Palantir Technologies (NASDAQ:PLTR) Given “Underweight” Rating at Morgan Stanley

Palantir Technologies (NASDAQ:PLTR)‘s stock had its “underweight” rating reaffirmed by investment analysts at Morgan Stanley in a research report issued on Monday,Benzinga reports. They currently have a $60.00 target price on the stock. Morgan Stanley’s price target would suggest a potential downside of 24.90% from the company’s current price.

PLTR has been the subject of a number of other reports. DA Davidson raised their price target on Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Robert W. Baird began coverage on shares of Palantir Technologies in a report on Thursday, December 12th. They set a “neutral” rating and a $70.00 target price on the stock. Mizuho increased their price target on shares of Palantir Technologies from $37.00 to $44.00 and gave the company an “underperform” rating in a research note on Friday, December 13th. Bank of America lifted their price objective on shares of Palantir Technologies from $55.00 to $75.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Finally, William Blair reaffirmed an “underperform” rating on shares of Palantir Technologies in a report on Wednesday, December 18th. Seven equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Palantir Technologies currently has an average rating of “Hold” and a consensus target price of $42.12.

Palantir Technologies Stock Up 6.3 %

Shares of PLTR opened at $79.89 on Monday. Palantir Technologies has a twelve month low of $15.66 and a twelve month high of $84.80. The stock has a market capitalization of $181.99 billion, a P/E ratio of 399.47, a P/E/G ratio of 10.18 and a beta of 2.82. The company has a 50 day moving average of $66.28 and a 200-day moving average of $44.38.

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, beating the consensus estimate of $0.09 by $0.01. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The firm had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. During the same period in the previous year, the business earned $0.03 EPS. The company’s revenue was up 30.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Palantir Technologies will post 0.21 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 7,321 shares of Palantir Technologies stock in a transaction on Friday, October 11th. The stock was sold at an average price of $43.90, for a total value of $321,391.90. Following the completion of the transaction, the director now directly owns 138,304 shares of the company’s stock, valued at $6,071,545.60. The trade was a 5.03 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Alexander C. Karp sold 3,337,048 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $45.02, for a total value of $150,233,900.96. Following the sale, the insider now directly owns 6,432,258 shares in the company, valued at approximately $289,580,255.16. This trade represents a 34.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,160,723 shares of company stock worth $1,408,158,941 in the last quarter. 12.93% of the stock is currently owned by corporate insiders.

Institutional Trading of Palantir Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Northwest Investment Counselors LLC bought a new stake in Palantir Technologies during the third quarter worth $25,000. Prestige Wealth Management Group LLC lifted its position in shares of Palantir Technologies by 747.1% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after buying an additional 650 shares during the last quarter. Creekmur Asset Management LLC boosted its stake in Palantir Technologies by 46.0% in the third quarter. Creekmur Asset Management LLC now owns 1,063 shares of the company’s stock valued at $40,000 after buying an additional 335 shares in the last quarter. Ritter Daniher Financial Advisory LLC DE grew its position in Palantir Technologies by 47.5% in the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,180 shares of the company’s stock valued at $44,000 after acquiring an additional 380 shares during the last quarter. Finally, University of Texas Texas AM Investment Management Co. acquired a new position in Palantir Technologies during the second quarter worth about $30,000. Institutional investors 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.