Palantir Technologies (NASDAQ:PLTR) Upgraded to Hold at Argus

Palantir Technologies (NASDAQ:PLTRGet Free Report) was upgraded by Argus to a “hold” rating in a report issued on Monday,Zacks.com reports.

A number of other research analysts also recently issued reports on the stock. Citigroup lifted their price objective on shares of Palantir Technologies from $235.00 to $260.00 and gave the stock a “buy” rating in a research report on Tuesday, February 3rd. Loop Capital decreased their price objective on Palantir Technologies from $230.00 to $220.00 and set a “buy” rating for the company in a report on Friday, January 30th. Cantor Fitzgerald restated a “neutral” rating on shares of Palantir Technologies in a research note on Tuesday, February 3rd. Weiss Ratings lowered Palantir Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, January 15th. Finally, The Goldman Sachs Group lowered their price target on Palantir Technologies from $188.00 to $182.00 in a report on Tuesday, February 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $191.05.

Read Our Latest Report on Palantir Technologies

Palantir Technologies Trading Down 2.4%

Shares of NASDAQ PLTR opened at $139.45 on Monday. Palantir Technologies has a 12-month low of $66.12 and a 12-month high of $207.52. The stock’s fifty day simple moving average is $172.72 and its two-hundred day simple moving average is $173.16. The stock has a market capitalization of $332.37 billion, a PE ratio of 221.35, a price-to-earnings-growth ratio of 2.74 and a beta of 1.64.

Palantir Technologies (NASDAQ:PLTRGet Free Report) last issued its quarterly earnings data on Monday, February 2nd. The company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.02. Palantir Technologies had a return on equity of 23.81% and a net margin of 36.31%.The firm had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same period in the prior year, the business posted $0.14 EPS. The firm’s quarterly revenue was up 70.0% on a year-over-year basis. On average, equities analysts predict that Palantir Technologies will post 0.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider David A. Glazer sold 15,557 shares of the stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $163.99, for a total value of $2,551,192.43. Following the transaction, the insider owned 415,612 shares in the company, valued at approximately $68,156,211.88. This represents a 3.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ryan D. Taylor sold 36,048 shares of the firm’s stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $162.36, for a total transaction of $5,852,753.28. Following the transaction, the insider directly owned 251,409 shares of the company’s stock, valued at $40,818,765.24. This represents a 12.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 1,023,844 shares of company stock valued at $167,455,085. Insiders own 12.93% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Briaud Financial Planning Inc acquired a new stake in Palantir Technologies in the second quarter valued at approximately $27,000. LFA Lugano Financial Advisors SA purchased a new position in shares of Palantir Technologies during the 2nd quarter valued at approximately $27,000. Bare Financial Services Inc lifted 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 valued at $28,000 after buying an additional 55 shares in the last quarter. Delos Wealth Advisors LLC acquired a new stake in Palantir Technologies in the 2nd quarter valued at $29,000. Finally, Basepoint Wealth LLC purchased a new stake in Palantir Technologies in the 4th quarter worth $29,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies News Roundup

Here are the key news stories impacting Palantir Technologies this week:

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.

Further Reading

Analyst Recommendations for Palantir Technologies (NASDAQ:PLTR)

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