Analysts Set Palantir Technologies Inc. (NYSE:PLTR) Price Target at $35.64

Shares of Palantir Technologies Inc. (NYSE:PLTRGet Free Report) have received a consensus recommendation of “Reduce” from the sixteen analysts that are covering the stock, MarketBeat reports. Six investment 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 price objective among brokerages that have issued ratings on the stock in the last year is $35.64.

PLTR has been the subject of a number of analyst reports. Jefferies Financial Group downgraded shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price target for the company. in a research report on Thursday, November 7th. Raymond James downgraded Palantir Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. Northland Securities increased their price target on shares of Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 5th. The Goldman Sachs Group lifted their target price on Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, Northland Capmk upgraded shares of Palantir Technologies to a “hold” rating in a report on Thursday, August 22nd.

View Our Latest Analysis on Palantir Technologies

Insiders Place Their Bets

In related news, insider Ryan D. Taylor sold 155,539 shares of Palantir Technologies stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $35.02, for a total value of $5,446,975.78. Following the completion of the sale, the insider now owns 331,369 shares of the company’s stock, valued at approximately $11,604,542.38. This trade represents a 31.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 6,050 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $33.19, for a total transaction of $200,799.50. Following the completion of the transaction, the director now directly owns 158,280 shares in the company, valued at approximately $5,253,313.20. The trade was a 3.68 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 39,423,181 shares of company stock worth $1,972,588,658. 12.93% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Palantir Technologies

Several institutional investors have recently bought and sold shares of PLTR. Summit Securities Group LLC bought a new position in Palantir Technologies in the 2nd quarter valued at $25,000. Farmers & Merchants Investments Inc. purchased a new position in Palantir Technologies in the second quarter valued at approximately $25,000. Northwest Investment Counselors LLC bought a new position in Palantir Technologies during the third quarter valued at $25,000. Prestige Wealth Management Group LLC increased its holdings in Palantir Technologies by 747.1% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after acquiring an additional 650 shares during the last quarter. Finally, University of Texas Texas AM Investment Management Co. purchased a new position in shares of Palantir Technologies in the second quarter worth about $30,000. Institutional investors own 45.65% of the company’s stock.

Palantir Technologies Trading Up 6.2 %

Palantir Technologies stock opened at $76.34 on Thursday. The company has a market capitalization of $173.90 billion, a price-to-earnings ratio of 381.72, a PEG ratio of 9.41 and a beta of 2.87. The stock’s 50 day moving average is $52.25 and its 200-day moving average is $36.58. Palantir Technologies has a 12 month low of $15.66 and a 12 month high of $76.82.

Palantir Technologies (NYSE:PLTRGet Free Report) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The firm had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The company’s revenue for the quarter was up 30.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.03 EPS. As a group, equities research analysts predict that Palantir Technologies will post 0.21 earnings per share for the current fiscal year.

Palantir Technologies Company Profile

(Get Free Report

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.

Further Reading

Analyst Recommendations for Palantir Technologies (NYSE:PLTR)

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