Palantir Technologies’ (PLTR) Outperform Rating Reiterated at Wedbush

Wedbush restated their outperform rating on shares of Palantir Technologies (NYSE:PLTR) in a research report sent to investors on Monday morning, Benzinga reports. Wedbush currently has a $35.00 price objective on the stock.

Other research analysts have also issued reports about the company. Royal Bank of Canada reiterated an underperform rating and issued a $5.00 price objective on shares of Palantir Technologies in a research report on Tuesday, February 6th. Jefferies Financial Group raised Palantir Technologies from an underperform rating to a hold rating and raised their price objective for the stock from $13.00 to $22.00 in a research report on Tuesday, February 6th. Raymond James upped their target price on shares of Palantir Technologies from $22.00 to $25.00 and gave the company an outperform rating in a research report on Tuesday, February 6th. Mizuho lifted their price target on shares of Palantir Technologies from $18.00 to $21.00 and gave the company a neutral rating in a research report on Thursday, March 7th. Finally, HSBC downgraded shares of Palantir Technologies from a buy rating to a hold rating and set a $22.00 price target on the stock. in a research note on Wednesday, February 14th. Five analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Palantir Technologies presently has a consensus rating of Hold and an average price target of $20.65.

Palantir Technologies Trading Up 0.7 %

Shares of PLTR opened at $21.56 on Monday. Palantir Technologies has a 12-month low of $8.65 and a 12-month high of $27.50. The firm has a market capitalization of $47.71 billion, a P/E ratio of 239.58, a P/E/G ratio of 5.72 and a beta of 2.76. The firm has a 50-day moving average price of $23.34 and a 200 day moving average price of $20.35.

Palantir Technologies (NYSE:PLTR) last posted its earnings results on Monday, February 5th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.01). The firm had revenue of $608.35 million during the quarter, compared to analyst estimates of $603.48 million. Palantir Technologies had a net margin of 9.43% and a return on equity of 6.17%. Equities research analysts predict that Palantir Technologies will post 0.16 earnings per share for the current fiscal year.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Heather A. Planishek sold 32,828 shares of the company’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $25.95, for a total transaction of $851,886.60. Following the sale, the insider now owns 662,006 shares in the company, valued at approximately $17,179,055.70. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Alexander D. Moore sold 20,000 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $22.02, for a total transaction of $440,400.00. Following the completion of the transaction, the director now owns 1,595,519 shares in the company, valued at $35,133,328.38. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Heather A. Planishek sold 32,828 shares of the stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $25.95, for a total value of $851,886.60. Following the completion of the transaction, the insider now directly owns 662,006 shares in the company, valued at approximately $17,179,055.70. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,206,273 shares of company stock worth $178,543,602. Company insiders own 13.96% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Truvestments Capital LLC lifted its stake in Palantir Technologies by 74.9% during the third quarter. Truvestments Capital LLC now owns 1,635 shares of the company’s stock worth $26,000 after purchasing an additional 700 shares during the last quarter. First United Bank & Trust purchased a new stake in shares of Palantir Technologies during the 4th quarter worth approximately $26,000. Pacifica Partners Inc. acquired a new position in shares of Palantir Technologies in the 4th quarter valued at $27,000. West Paces Advisors Inc. grew its position in shares of Palantir Technologies by 110.7% in the 1st quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock valued at $27,000 after buying an additional 620 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its stake in Palantir Technologies by 105.3% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock worth $31,000 after acquiring an additional 691 shares in the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

About Palantir Technologies

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.