Palantir Technologies (NYSE:PLTR) Rating Reiterated by Wedbush

Palantir Technologies (NYSE:PLTR)‘s stock had its “outperform” rating reaffirmed by research analysts at Wedbush in a research report issued to clients and investors on Monday, Benzinga reports. They currently have a $35.00 price target on the stock. Wedbush’s price objective points to a potential upside of 63.51% from the company’s current price.

Several other equities analysts have also recently commented on PLTR. Jefferies Financial Group raised Palantir Technologies from an “underperform” rating to a “hold” rating and upped their price target for the company from $13.00 to $22.00 in a report on Tuesday, February 6th. Monness Crespi & Hardt upgraded shares of Palantir Technologies from a “sell” rating to a “neutral” rating in a research note on Friday, April 26th. HSBC lowered shares of Palantir Technologies from a “buy” rating to a “hold” rating and set a $22.00 price target on the stock. in a report on Wednesday, February 14th. Bank of America raised their price objective on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Finally, Mizuho upped their target price on shares of Palantir Technologies from $18.00 to $21.00 and gave the company a “neutral” rating in a research note on Thursday, March 7th. Five equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $20.65.

Palantir Technologies Trading Down 15.1 %

Shares of Palantir Technologies stock opened at $21.41 on Monday. Palantir Technologies has a 1 year low of $7.59 and a 1 year high of $27.50. The company’s fifty day simple moving average is $23.40 and its 200-day simple moving average is $20.31. The company has a market cap of $47.36 billion, a price-to-earnings ratio of 237.86, a PEG ratio of 5.72 and a beta of 2.76.

Palantir Technologies (NYSE:PLTR) last posted its quarterly earnings results on Monday, February 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.01). The company had revenue of $608.35 million during the quarter, compared to analyst estimates of $603.48 million. Palantir Technologies had a return on equity of 6.17% and a net margin of 9.43%. As a group, research analysts forecast that Palantir Technologies will post 0.16 earnings per share for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In other news, Director Lauren Elaina Friedman Stat sold 5,000 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $25.10, for a total transaction of $125,500.00. Following the sale, the director now owns 181,830 shares in the company, valued at $4,563,933. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Lauren Elaina Friedman Stat sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $25.10, for a total transaction of $125,500.00. Following the transaction, the director now directly owns 181,830 shares in the company, valued at $4,563,933. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ryan D. Taylor sold 150,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $24.00, for a total transaction of $3,600,000.00. Following the completion of the sale, the insider now directly owns 181,460 shares of the company’s stock, valued at approximately $4,355,040. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,356,273 shares of company stock worth $182,143,602. 13.96% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Palantir Technologies

Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Palantir Technologies by 11.1% in the 3rd quarter. Vanguard Group Inc. now owns 187,338,667 shares of the company’s stock valued at $2,997,419,000 after purchasing an additional 18,756,392 shares during the last quarter. Morgan Stanley grew its holdings in Palantir Technologies by 26.1% during the 3rd quarter. Morgan Stanley now owns 22,614,555 shares of the company’s stock worth $361,833,000 after acquiring an additional 4,675,824 shares during the period. KEYWISE CAPITAL MANAGEMENT HK Ltd raised its position in shares of Palantir Technologies by 314.7% during the 3rd quarter. KEYWISE CAPITAL MANAGEMENT HK Ltd now owns 5,285,700 shares of the company’s stock valued at $84,571,000 after acquiring an additional 4,011,100 shares during the last quarter. Quadrature Capital Ltd acquired a new position in shares of Palantir Technologies in the 3rd quarter valued at $55,719,000. Finally, International Assets Investment Management LLC boosted its position in shares of Palantir Technologies by 1,784.0% in the 4th quarter. International Assets Investment Management LLC now owns 2,895,772 shares of the company’s stock worth $49,720,000 after purchasing an additional 2,742,071 shares during the last quarter. 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.