Palantir Technologies Inc. (NASDAQ:PLTR) Receives $44.61 Consensus Price Target from Analysts

Palantir Technologies Inc. (NASDAQ:PLTR) has been given a consensus rating of “Reduce” by the twenty-one brokerages that are presently covering the firm, MarketBeat reports. Seven research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating on the company. The average 12-month price target among analysts that have covered the stock in the last year is $44.61.

Several brokerages recently commented on PLTR. Argus lowered shares of Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Mizuho boosted their target price on shares of Palantir Technologies from $37.00 to $44.00 and gave the stock an “underperform” rating in a research note on Friday, December 13th. Bank of America raised their price target on shares of Palantir Technologies from $55.00 to $75.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Robert W. Baird initiated coverage on Palantir Technologies in a research note on Thursday, December 12th. They set a “neutral” rating and a $70.00 price objective for the company. Finally, UBS Group began coverage on Palantir Technologies in a research note on Thursday, December 19th. They issued a “neutral” rating and a $80.00 price target on the stock.

Insider Buying and Selling

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 8,054 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $50.49, for a total value of $406,646.46. Following the transaction, the director now owns 130,250 shares of the company’s stock, valued at $6,576,322.50. This represents a 5.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Alexandra W. Schiff sold 4,000 shares of Palantir Technologies stock in a transaction dated Tuesday, January 7th. The shares were 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 of the company’s stock, valued at approximately $13,996,000.59. This represents 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 sold 20,181,807 shares of company stock worth $1,288,448,522. Company 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 company. Northwest Investment Counselors LLC acquired a new position in Palantir Technologies during the 3rd quarter worth about $25,000. Prestige Wealth Management Group LLC increased its stake in Palantir Technologies by 747.1% during the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after purchasing an additional 650 shares during the period. First PREMIER Bank acquired a new stake in shares of Palantir Technologies during the fourth quarter worth about $28,000. Wolff Wiese Magana LLC boosted its stake in shares of Palantir Technologies by 230.4% in the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock valued at $29,000 after purchasing an additional 265 shares during the period. Finally, University of Texas Texas AM Investment Management Co. acquired a new position in shares of Palantir Technologies in the second quarter valued at approximately $30,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Palantir Technologies Stock Performance

Shares of Palantir Technologies stock opened at $78.98 on Friday. The firm has a 50-day simple moving average of $71.96 and a two-hundred day simple moving average of $49.04. Palantir Technologies has a fifty-two week low of $16.03 and a fifty-two week high of $84.80. The company has a market cap of $179.92 billion, a P/E ratio of 394.92, a price-to-earnings-growth ratio of 7.08 and a beta of 2.82.

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

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.