Brokerages Set Palantir Technologies Inc. (NYSE:PLTR) Price Target at $26.79

Palantir Technologies Inc. (NYSE:PLTR) has been given a consensus rating of “Reduce” by the sixteen brokerages that are presently covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $26.79.

A number of research analysts have recently weighed in on the stock. Mizuho downgraded shares of Palantir Technologies from a “neutral” rating to an “underperform” rating and raised their price target for the company from $21.00 to $22.00 in a report on Tuesday, July 16th. Argus began coverage on Palantir Technologies in a research report on Monday, June 17th. They issued a “buy” rating and a $29.00 price target for the company. Deutsche Bank Aktiengesellschaft upped their price target on Palantir Technologies from $20.00 to $21.00 and gave the stock a “sell” rating in a research note on Tuesday, August 6th. The Goldman Sachs Group raised their price objective on Palantir Technologies from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Finally, Wedbush reiterated an “outperform” rating and set a $38.00 price target on shares of Palantir Technologies in a report on Monday, September 9th.

Insider Buying and Selling

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 3,050 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $26.43, for a total value of $80,611.50. Following the sale, the director now owns 65,989 shares of the company’s stock, valued at approximately $1,744,089.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Lauren Elaina Friedman Stat sold 3,050 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $26.43, for a total value of $80,611.50. Following the sale, the director now directly owns 65,989 shares in the company, valued at approximately $1,744,089.27. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Eric H. Woersching sold 3,026 shares of the stock in a transaction that occurred on Tuesday, July 9th. The stock was 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 directly owns 29,817 shares of the company’s stock, valued at $834,876. The disclosure for this sale can be found here. Insiders sold a total of 5,383,238 shares of company stock valued at $190,231,672 over the last ninety days. 12.93% of the stock is owned by company insiders.

Institutional Investors Weigh In On Palantir Technologies

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vantage Financial Partners LLC grew its stake in Palantir Technologies by 20.2% during the fourth quarter. Vantage Financial Partners LLC now owns 60,124 shares of the company’s stock worth $1,032,000 after buying an additional 10,124 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Palantir Technologies by 9.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,567,409 shares of the company’s stock valued at $44,091,000 after purchasing an additional 228,428 shares in the last quarter. Norges Bank bought a new position in Palantir Technologies in the 4th quarter valued at $46,542,000. PNC Financial Services Group Inc. boosted its stake in Palantir Technologies by 11.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 57,069 shares of the company’s stock worth $980,000 after purchasing an additional 5,759 shares in the last quarter. Finally, Balentine LLC bought a new stake in shares of Palantir Technologies during the fourth quarter worth $179,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Stock Performance

Shares of PLTR opened at $37.93 on Friday. Palantir Technologies has a 52 week low of $13.82 and a 52 week high of $38.19. The company has a market capitalization of $84.47 billion, a PE ratio of 316.08 and a beta of 2.72. The company’s 50 day moving average price is $30.57 and its 200 day moving average price is $25.92.

Palantir Technologies (NYSE:PLTR) last issued 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 return on equity of 8.88% and a net margin of 16.32%. The firm had revenue of $678.13 million during the quarter, compared to analyst estimates of $653.23 million. During the same period in the previous year, the company earned $0.01 earnings per share. The business’s revenue for the quarter was up 27.2% on a year-over-year basis. On average, equities analysts forecast that Palantir Technologies will post 0.19 earnings per share 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.