Palantir Technologies Inc. (NYSE:PLTR) Given Average Recommendation of “Reduce” by Brokerages

Shares of Palantir Technologies Inc. (NYSE:PLTR) have been given an average rating of “Reduce” by the sixteen analysts that are currently covering the stock, Marketbeat Ratings reports. Five investment analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and four have issued a buy recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $26.79.

PLTR has been the topic of several research analyst reports. Citigroup increased their price target on shares of Palantir Technologies from $25.00 to $28.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Wedbush reissued an “outperform” rating and set a $38.00 price target on shares of Palantir Technologies in a report on Monday, September 9th. Raymond James upped their price objective on Palantir Technologies from $25.00 to $30.00 and gave the company an “outperform” rating in a report on Tuesday, August 6th. Mizuho downgraded Palantir Technologies from a “neutral” rating to an “underperform” rating and lifted their target price for the stock from $21.00 to $22.00 in a report on Tuesday, July 16th. Finally, Bank of America upped their price target on shares of Palantir Technologies from $30.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th.

Insider Buying and Selling at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 2,000 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $28.97, for a total value of $57,940.00. Following the sale, the director now directly owns 69,039 shares of the company’s stock, valued at $2,000,059.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Eric H. Woersching sold 3,026 shares of the business’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $28.00, for a total transaction of $84,728.00. Following the sale, the director now owns 29,817 shares in the company, valued at approximately $834,876. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 2,000 shares of the stock in a transaction dated Monday, July 15th. The shares were 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 of the company’s stock, valued at $2,000,059.83. The disclosure for this sale can be found here. Insiders sold a total of 5,383,238 shares of company stock worth $190,231,672 over the last three months. Corporate insiders own 12.93% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Evolution Wealth Advisors LLC increased its position in Palantir Technologies by 0.5% in the 2nd quarter. Evolution Wealth Advisors LLC now owns 73,144 shares of the company’s stock valued at $1,853,000 after acquiring an additional 360 shares during the period. First Horizon Advisors Inc. raised its position in Palantir Technologies by 2.6% during the 2nd quarter. First Horizon Advisors Inc. now owns 15,235 shares of the company’s stock worth $386,000 after purchasing an additional 379 shares during the last quarter. Gradient Investments LLC lifted its holdings in Palantir Technologies by 21.4% during the 2nd quarter. Gradient Investments LLC now owns 2,306 shares of the company’s stock worth $58,000 after buying an additional 406 shares during the period. Apella Capital LLC grew its position in shares of Palantir Technologies by 3.7% in the 2nd quarter. Apella Capital LLC now owns 11,791 shares of the company’s stock valued at $323,000 after buying an additional 416 shares during the last quarter. Finally, Valeo Financial Advisors LLC increased its stake in shares of Palantir Technologies by 1.2% in the second quarter. Valeo Financial Advisors LLC now owns 36,177 shares of the company’s stock valued at $916,000 after buying an additional 416 shares during the period. Institutional investors own 45.65% of the company’s stock.

Palantir Technologies Stock Up 1.0 %

PLTR opened at $37.20 on Friday. The stock has a market cap of $83.31 billion, a price-to-earnings ratio of 310.03 and a beta of 2.72. Palantir Technologies has a 12-month low of $13.68 and a 12-month high of $37.35. The business has a 50 day moving average of $30.57 and a 200-day moving average of $25.90.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings data on Monday, August 5th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01). The company had revenue of $678.13 million during the quarter, compared to analyst estimates of $653.23 million. Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. Palantir Technologies’s revenue for the quarter was up 27.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.01 earnings per share. As a group, analysts expect that Palantir Technologies will post 0.19 earnings per share for the current year.

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.