Brokerages Set Palantir Technologies Inc. (NASDAQ:PLTR) PT at $74.71

Palantir Technologies Inc. (NASDAQ:PLTR) has received an average rating of “Reduce” from the twenty-three research firms that are covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have issued a buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $83.70.

PLTR has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a “sell” rating on shares of Palantir Technologies in a research report on Tuesday. Robert W. Baird upped their target price on shares of Palantir Technologies from $70.00 to $100.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Daiwa America upgraded shares of Palantir Technologies to a “hold” rating in a research report on Tuesday, April 1st. DA Davidson upped their price objective on shares of Palantir Technologies from $100.00 to $115.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, Cantor Fitzgerald lifted their target price on Palantir Technologies from $98.00 to $110.00 and gave the stock a “neutral” rating in a research report on Tuesday.

Palantir Technologies Trading Down 12.0 %

Shares of Palantir Technologies stock opened at $108.86 on Friday. The firm has a fifty day simple moving average of $92.34 and a 200-day simple moving average of $80.74. The stock has a market capitalization of $255.32 billion, a price-to-earnings ratio of 572.98, a PEG ratio of 10.84 and a beta of 2.68. Palantir Technologies has a 1-year low of $20.50 and a 1-year high of $125.41.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings results on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.13. The company had revenue of $883.86 million during the quarter, compared to analysts’ expectations of $863.89 million. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. The business’s quarterly revenue was up 39.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.08 earnings per share. As a group, research analysts predict that Palantir Technologies will post 0.31 earnings per share for the current year.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Heather A. Planishek sold 13,891 shares of the company’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $115.96, for a total transaction of $1,610,800.36. Following the transaction, the insider now owns 512,006 shares of the company’s stock, valued at approximately $59,372,215.76. This represents a 2.64 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Shyam Sankar sold 30,000 shares of the business’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $92.43, for a total value of $2,772,900.00. Following the sale, the insider now owns 702,786 shares of the company’s stock, valued at approximately $64,958,509.98. The trade was a 4.09 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,978,181 shares of company stock worth $252,115,667. Insiders own 12.93% of the company’s stock.

Institutional Investors Weigh In On Palantir Technologies

Institutional investors have recently modified their holdings of the business. Mechanics Financial Corp acquired a new stake in shares of Palantir Technologies during the first quarter worth $25,000. Roxbury Financial LLC acquired a new position in shares of Palantir Technologies during the 4th quarter worth about $27,000. First PREMIER Bank acquired a new position in shares of Palantir Technologies during the 4th quarter worth about $28,000. Wolff Wiese Magana LLC raised its position in shares of Palantir Technologies by 230.4% in the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock valued at $29,000 after acquiring an additional 265 shares during the period. Finally, HighMark Wealth Management LLC boosted its stake in Palantir Technologies by 73.5% during the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock worth $30,000 after acquiring an additional 166 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Company Profile

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.