Robert W. Baird Initiates Coverage on Palantir Technologies (NYSE:PLTR)

Analysts at Robert W. Baird initiated coverage on shares of Palantir Technologies (NYSE:PLTR) in a research report issued to clients and investors on Thursday, MarketBeat.com reports. The firm set a “neutral” rating and a $70.00 price target on the stock. Robert W. Baird’s target price would suggest a potential downside of 7.98% from the stock’s previous close.

A number of other equities analysts have also weighed in on the stock. DA Davidson boosted their price objective on shares of Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. William Blair restated an “underperform” rating on shares of Palantir Technologies in a research note on Wednesday, December 4th. Raymond James downgraded Palantir Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. Mizuho lifted their price objective on Palantir Technologies from $30.00 to $37.00 and gave the stock an “underperform” rating in a report on Tuesday, November 5th. Finally, Northland Securities boosted their target price on Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 5th. Six investment analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $38.40.

Palantir Technologies Trading Up 3.9 %

NYSE PLTR opened at $76.07 on Thursday. The stock’s fifty day moving average price is $55.75 and its 200-day moving average price is $38.39. The stock has a market cap of $173.29 billion, a P/E ratio of 380.35, a P/E/G ratio of 9.70 and a beta of 2.87. Palantir Technologies has a 12 month low of $15.66 and a 12 month high of $80.91.

Palantir Technologies (NYSE:PLTR) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.09 by $0.01. The company had revenue of $725.52 million for the quarter, compared to the consensus estimate of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. Palantir Technologies’s revenue for the quarter was up 30.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.03 EPS. As a group, analysts forecast that Palantir Technologies will post 0.21 earnings per share for the current fiscal year.

Insider Transactions at Palantir Technologies

In other news, Director Lauren Elaina Friedman Stat sold 6,000 shares of Palantir Technologies stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $36.35, for a total transaction of $218,100.00. Following the transaction, the director now directly owns 152,280 shares of the company’s stock, valued at $5,535,378. The trade was a 3.79 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Heather A. Planishek sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $39.95, for a total value of $799,000.00. Following the transaction, the insider now owns 562,006 shares of the company’s stock, valued at approximately $22,452,139.70. This trade represents a 3.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 40,118,366 shares of company stock worth $2,029,875,392 in the last 90 days. 12.93% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Summit Securities Group LLC bought a new stake in Palantir Technologies during the second quarter valued at about $25,000. Farmers & Merchants Investments Inc. purchased a new position in shares of Palantir Technologies during the 2nd quarter worth about $25,000. Northwest Investment Counselors LLC bought a new position in Palantir Technologies during the 3rd quarter valued at about $25,000. Prestige Wealth Management Group LLC raised its position in Palantir Technologies by 747.1% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after purchasing an additional 650 shares during the period. Finally, University of Texas Texas AM Investment Management Co. bought a new stake in Palantir Technologies in the second quarter worth about $30,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies Company Profile

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. The company provides Palantir Gotham, a software platform which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.