Palantir Technologies Inc. (NYSE:PLTR) Receives Average Rating of “Reduce” from Brokerages

Palantir Technologies Inc. (NYSE:PLTR) has been given a consensus recommendation of “Reduce” by the sixteen research firms that are currently covering the stock, Marketbeat reports. Five investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating on the company. The average 1-year target price among brokers that have covered the stock in the last year is $27.29.

PLTR has been the subject of several research analyst reports. Jefferies Financial Group upped their target price on shares of Palantir Technologies from $24.00 to $28.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Mizuho cut shares of Palantir Technologies from a “neutral” rating to an “underperform” rating and increased their target price for the company from $21.00 to $22.00 in a research note on Tuesday, July 16th. Raymond James lowered Palantir Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. DA Davidson raised their target price on Palantir Technologies from $24.00 to $28.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 6th. Finally, Northland Capmk raised shares of Palantir Technologies to a “hold” rating in a report on Thursday, August 22nd.

Insiders Place Their Bets

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 2,000 shares of Palantir Technologies stock in a transaction on Monday, July 15th. The stock was sold at an average price of $28.97, for a total value of $57,940.00. Following the completion of the transaction, the director now owns 69,039 shares in the company, valued at approximately $2,000,059.83. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 2,000 shares of the company’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $28.97, for a total transaction of $57,940.00. Following the transaction, the director now owns 69,039 shares of the company’s stock, valued at approximately $2,000,059.83. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Eric H. Woersching sold 3,026 shares of the firm’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $28.00, for a total value of $84,728.00. Following the completion of the transaction, the director now owns 29,817 shares in the company, valued at approximately $834,876. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,644,559 shares of company stock valued at $346,929,762. 12.93% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Palantir Technologies

A number of institutional investors and hedge funds have recently modified their holdings of PLTR. Summit Securities Group LLC acquired a new stake in Palantir Technologies during the 2nd quarter worth $25,000. Farmers & Merchants Investments Inc. bought a new position in shares of Palantir Technologies in the 2nd quarter worth $25,000. West Paces Advisors Inc. grew its stake in shares of Palantir Technologies by 110.7% during the first quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock worth $27,000 after purchasing an additional 620 shares during the period. University of Texas Texas AM Investment Management Co. bought a new stake in Palantir Technologies in the second quarter valued at about $30,000. Finally, Massmutual Trust Co. FSB ADV lifted its stake in Palantir Technologies by 105.3% in the first quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock valued at $31,000 after buying an additional 691 shares during the period. 45.65% of the stock is owned by institutional investors.

Palantir Technologies Price Performance

PLTR stock opened at $36.86 on Friday. The company has a 50-day moving average of $31.43 and a two-hundred day moving average of $26.31. The stock has a market capitalization of $82.08 billion, a price-to-earnings ratio of 307.17 and a beta of 2.72. Palantir Technologies has a 52-week low of $14.48 and a 52-week high of $38.19.

Palantir Technologies (NYSE:PLTR) last announced its earnings results on Monday, August 5th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.01). Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. The business had revenue of $678.13 million for the quarter, compared to the consensus estimate of $653.23 million. During the same quarter in the previous year, the company earned $0.01 EPS. Palantir Technologies’s revenue for the quarter was up 27.2% compared to the same quarter last year. Equities analysts expect that Palantir Technologies will post 0.19 EPS for the current fiscal year.

About Palantir Technologies

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.