Palantir Technologies Inc. (NYSE:PLTR) Receives Consensus Recommendation of “Reduce” from Analysts

Shares of Palantir Technologies Inc. (NYSE:PLTR) have been assigned an average recommendation of “Reduce” from the sixteen ratings firms that are presently covering the stock, Marketbeat.com reports. Six analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $31.71.

PLTR has been the topic of several research reports. Wedbush lifted their price objective on shares of Palantir Technologies from $38.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. Northland Securities lifted their price target on Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a report on Tuesday, November 5th. Royal Bank of Canada restated an “underperform” rating and set a $9.00 price objective on shares of Palantir Technologies in a research note on Tuesday, August 6th. Raymond James downgraded Palantir Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. Finally, Jefferies Financial Group downgraded shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 target price for the company. in a report on Thursday, November 7th.

Palantir Technologies Trading Down 2.5 %

PLTR opened at $59.19 on Friday. The company has a market capitalization of $132.55 billion, a price-to-earnings ratio of 295.95 and a beta of 2.70. Palantir Technologies has a 12-month low of $15.66 and a 12-month high of $63.39. The business’s fifty day simple moving average is $41.90 and its 200-day simple moving average is $31.45.

Palantir Technologies (NYSE:PLTR) last issued its earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.01. The company had revenue of $725.52 million for the quarter, compared to analysts’ expectations of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The firm’s quarterly revenue was up 30.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.03 EPS. On average, equities research analysts predict that Palantir Technologies will post 0.21 EPS for the current year.

Insider Buying and Selling

In other news, Director Alexander D. Moore sold 20,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $30.89, for a total value of $617,800.00. Following the sale, the director now owns 1,510,630 shares in the company, valued at $46,663,360.70. This represents a 1.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Heather A. Planishek sold 11,373 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $32.25, for a total value of $366,779.25. Following the sale, the insider now directly owns 600,633 shares in the company, valued at approximately $19,370,414.25. This trade represents a 1.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 25,239,238 shares of company stock worth $1,036,731,557. 12.93% of the stock is owned by company insiders.

Hedge Funds Weigh In On Palantir Technologies

Institutional investors have recently made changes to their positions in the company. Northwest Investment Counselors LLC acquired a new stake in Palantir Technologies during the third quarter valued at $25,000. Summit Securities Group LLC purchased a new stake in shares of Palantir Technologies during the 2nd quarter worth about $25,000. Farmers & Merchants Investments Inc. acquired a new stake in shares of Palantir Technologies during the 2nd quarter valued at about $25,000. Creekmur Asset Management LLC increased its stake in shares of Palantir Technologies by 46.0% in the 3rd quarter. Creekmur Asset Management LLC now owns 1,063 shares of the company’s stock valued at $40,000 after purchasing an additional 335 shares in the last quarter. Finally, Ritter Daniher Financial Advisory LLC DE raised its holdings in Palantir Technologies by 47.5% in the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,180 shares of the company’s stock worth $44,000 after purchasing an additional 380 shares during the period. 45.65% of the stock is owned by hedge funds and other institutional investors.

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.