Palantir Technologies (NASDAQ:PLTR) Earns Buy Rating from Analysts at DZ Bank

Stock analysts at DZ Bank initiated coverage on shares of Palantir Technologies (NASDAQ:PLTRGet Free Report) in a research note issued on Thursday. The firm set a “buy” rating and a $175.00 price target on the stock. DZ Bank’s price objective would suggest a potential upside of 14.66% from the company’s previous close.

Several other analysts have also recently weighed in on PLTR. Phillip Securities reduced their target price on shares of Palantir Technologies from $208.00 to $190.00 and set a “buy” rating on the stock in a report on Wednesday, April 1st. Northland Securities raised shares of Palantir Technologies from a “market perform” rating to an “outperform” rating and set a $190.00 target price on the stock in a report on Tuesday, February 3rd. Rosenblatt Securities reissued a “buy” rating and set a $200.00 price objective on shares of Palantir Technologies in a report on Wednesday, March 25th. UBS Group raised their price objective on shares of Palantir Technologies from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, March 18th. Finally, Benchmark initiated coverage on shares of Palantir Technologies in a report on Wednesday, April 1st. They set a “hold” rating on the stock. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $196.35.

Read Our Latest Research Report on Palantir Technologies

Palantir Technologies Stock Performance

NASDAQ PLTR opened at $152.62 on Thursday. The firm has a 50 day simple moving average of $144.25 and a 200-day simple moving average of $164.28. Palantir Technologies has a one year low of $97.83 and a one year high of $207.52. The firm has a market cap of $365.02 billion, a price-to-earnings ratio of 242.26, a PEG ratio of 2.81 and a beta of 1.68.

Palantir Technologies (NASDAQ:PLTRGet Free Report) last posted its quarterly earnings data on Monday, February 2nd. The company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.23 by $0.02. Palantir Technologies had a net margin of 36.31% and a return on equity of 23.81%. The business had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same quarter last year, the firm posted $0.14 earnings per share. The business’s revenue for the quarter was up 70.0% compared to the same quarter last year. Equities analysts predict that Palantir Technologies will post 1.05 EPS for the current fiscal year.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Alexander C. Karp sold 493,025 shares of the firm’s stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $133.78, for a total transaction of $65,956,884.50. Following the sale, the insider owned 6,432,258 shares of the company’s stock, valued at approximately $860,507,475.24. This trade represents a 7.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jeffrey Buckley sold 1,232 shares of the firm’s stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $129.08, for a total transaction of $159,026.56. Following the transaction, the insider owned 43,108 shares in the company, valued at approximately $5,564,380.64. This trade represents a 2.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,029,879 shares of company stock valued at $137,746,253 in the last quarter. Company insiders own 9.23% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the company. Occidental Asset Management LLC boosted its position in shares of Palantir Technologies by 2.8% during the 3rd quarter. Occidental Asset Management LLC now owns 1,964 shares of the company’s stock worth $358,000 after purchasing an additional 53 shares in the last quarter. Gallacher Capital Management LLC boosted its position in shares of Palantir Technologies by 2.2% during the 3rd quarter. Gallacher Capital Management LLC now owns 2,452 shares of the company’s stock worth $447,000 after purchasing an additional 53 shares in the last quarter. Bare Financial Services Inc boosted its position in shares of Palantir Technologies by 54.5% during the 3rd quarter. Bare Financial Services Inc now owns 156 shares of the company’s stock worth $28,000 after purchasing an additional 55 shares in the last quarter. Traveka Wealth LLC boosted its position in shares of Palantir Technologies by 1.6% during the 3rd quarter. Traveka Wealth LLC now owns 3,695 shares of the company’s stock worth $674,000 after purchasing an additional 57 shares in the last quarter. Finally, AlphaQuest LLC boosted its position in shares of Palantir Technologies by 15.8% during the 3rd quarter. AlphaQuest LLC now owns 425 shares of the company’s stock worth $78,000 after purchasing an additional 58 shares in the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

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Palantir Technologies Company Profile

(Get Free Report)

Palantir Technologies is a software company that develops data integration, analytics and operational decision-making platforms for government and commercial customers. Founded in 2003 by a team that included Alex Karp and Peter Thiel, Palantir has grown into a provider of enterprise-scale software designed to help organizations integrate disparate data sources, build analytic models and drive operational workflows. The company went public in 2020 and continues to position its products around large, complex data projects where security, provenance and real-time collaboration are important.

Palantir’s product portfolio centers on a small number of core platforms.

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