Palantir Technologies Inc. (NASDAQ:PLTR) Receives Consensus Rating of “Reduce” from Analysts

Shares of Palantir Technologies Inc. (NASDAQ:PLTR) have been given an average rating of “Reduce” by the twenty-one analysts that are presently covering the stock, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $44.61.

Several research firms have issued reports on PLTR. Argus lowered shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. DA Davidson upped their price target on shares of Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Wedbush upped their price target on shares of Palantir Technologies from $75.00 to $90.00 and gave the stock an “outperform” rating in a research report on Thursday, January 23rd. Jefferies Financial Group lowered shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price target on the stock. in a research report on Thursday, November 7th. Finally, Bank of America upped their price target on shares of Palantir Technologies from $55.00 to $75.00 and gave the stock a “buy” rating in a research report on Monday, November 25th.

Palantir Technologies Stock Up 6.3 %

Shares of PLTR stock opened at $80.23 on Friday. The company’s fifty day simple moving average is $72.25 and its 200-day simple moving average is $49.52. The firm has a market cap of $182.77 billion, a PE ratio of 401.17, a P/E/G ratio of 7.08 and a beta of 2.82. Palantir Technologies has a 12 month low of $16.03 and a 12 month high of $84.80.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The business had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The firm’s revenue for the quarter was up 30.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.03 earnings per share. On average, equities analysts predict that Palantir Technologies will post 0.2 earnings per share for the current fiscal year.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 8,054 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $50.49, for a total transaction of $406,646.46. Following the sale, the director now directly owns 130,250 shares in the company, valued at $6,576,322.50. This represents a 5.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Alexandra W. Schiff sold 4,000 shares of the stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $71.63, for a total transaction of $286,520.00. Following the sale, the director now owns 195,393 shares in the company, valued at $13,996,000.59. The trade was a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,181,807 shares of company stock worth $1,288,448,522. Corporate insiders own 12.93% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Tritonpoint Wealth LLC lifted its holdings in shares of Palantir Technologies by 1.9% in the fourth quarter. Tritonpoint Wealth LLC now owns 7,100 shares of the company’s stock worth $537,000 after acquiring an additional 132 shares during the last quarter. Kennebec Savings Bank lifted its holdings in shares of Palantir Technologies by 29.5% in the fourth quarter. Kennebec Savings Bank now owns 698 shares of the company’s stock worth $53,000 after acquiring an additional 159 shares during the last quarter. RMR Wealth Builders lifted its holdings in shares of Palantir Technologies by 2.4% in the fourth quarter. RMR Wealth Builders now owns 7,201 shares of the company’s stock worth $545,000 after acquiring an additional 167 shares during the last quarter. Bay Rivers Group lifted its holdings in shares of Palantir Technologies by 2.7% in the fourth quarter. Bay Rivers Group now owns 6,406 shares of the company’s stock worth $484,000 after acquiring an additional 171 shares during the last quarter. Finally, Christensen King & Associates Investment Services Inc. lifted its holdings in shares of Palantir Technologies by 3.0% in the fourth quarter. Christensen King & Associates Investment Services Inc. now owns 5,897 shares of the company’s stock worth $486,000 after acquiring an additional 174 shares during the last quarter. Institutional investors own 45.65% of the company’s stock.

About Palantir Technologies

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.