Palantir Technologies Inc. (NASDAQ:PLTR) Receives Average Recommendation of “Moderate Buy” from Brokerages

Palantir Technologies Inc. (NASDAQ:PLTR) has been given a consensus rating of “Moderate Buy” by the thirty-one analysts that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation, seventeen have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $192.76.

A number of research analysts have recently commented on the company. Oppenheimer assumed coverage on Palantir Technologies in a research note on Thursday, April 30th. They issued an “outperform” rating and a $200.00 target price for the company. Phillip Securities raised their target price on Palantir Technologies from $190.00 to $202.00 in a research note on Monday, May 11th. DZ Bank initiated coverage on Palantir Technologies in a research note on Thursday, April 23rd. They issued a “buy” rating and a $175.00 target price for the company. Rosenblatt Securities reiterated a “buy” rating and issued a $225.00 price target on shares of Palantir Technologies in a research note on Friday, June 5th. Finally, UBS Group increased their price target on shares of Palantir Technologies from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, March 18th.

Palantir Technologies Stock Performance

Shares of PLTR stock opened at $127.99 on Monday. The firm has a market cap of $306.83 billion, a P/E ratio of 143.81, a P/E/G ratio of 2.03 and a beta of 1.53. Palantir Technologies has a fifty-two week low of $122.68 and a fifty-two week high of $207.52. The business’s 50 day moving average price is $139.54 and its 200-day moving average price is $153.70.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings data on Monday, May 4th. The company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.05. The firm had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.54 billion. Palantir Technologies had a return on equity of 28.34% and a net margin of 43.67%.The business’s quarterly revenue was up 84.7% compared to the same quarter last year. During the same period last year, the company earned $0.13 EPS. As a group, equities analysts predict that Palantir Technologies will post 1.18 EPS for the current year.

Insider Buying and Selling

In related news, insider Stephen Andrew Cohen sold 319,934 shares of the stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total value of $43,523,821.36. Following the completion of the transaction, the insider directly owned 592 shares in the company, valued at $80,535.68. This trade represents a 99.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Ryan D. Taylor sold 19,662 shares of the stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total transaction of $2,674,818.48. Following the completion of the transaction, the insider owned 199,759 shares of the company’s stock, valued at approximately $27,175,214.36. The trade was a 8.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 925,789 shares of company stock worth $126,007,032 over the last 90 days. Corporate insiders own 9.53% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Palantir Technologies by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 215,444,098 shares of the company’s stock valued at $38,295,188,000 after buying an additional 1,557,828 shares during the last quarter. State Street Corp raised its stake in Palantir Technologies by 1.1% during the fourth quarter. State Street Corp now owns 102,385,317 shares of the company’s stock valued at $18,198,990,000 after buying an additional 1,126,418 shares during the last quarter. Geode Capital Management LLC raised its stake in Palantir Technologies by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 54,200,265 shares of the company’s stock valued at $9,599,882,000 after buying an additional 805,047 shares during the last quarter. Norges Bank purchased a new position in Palantir Technologies during the fourth quarter valued at $5,149,641,000. Finally, Invesco Ltd. raised its stake in Palantir Technologies by 2.8% during the fourth quarter. Invesco Ltd. now owns 22,415,082 shares of the company’s stock valued at $3,984,281,000 after buying an additional 616,297 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies Company Profile

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.