PLTR Stock – Palantir Technologies Inc. (NYSE:PLTR) Given Consensus Recommendation of “Hold” by Analysts
Shares of Palantir Technologies Inc. (NYSE:PLTR) have earned an average recommendation of “Hold” from the ten brokerages that are currently covering the firm, Marketbeat reports. Four analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and two have issued a buy recommendation on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $40.13.
PLTR has been the topic of several research reports. Credit Suisse Group began coverage on shares of Palantir Technologies in a research report on Tuesday, March 16th. They issued an “underperform” rating and a $20.00 price target on the stock. Zacks Investment Research downgraded shares of Palantir Technologies from a “hold” rating to a “sell” rating in a research note on Friday. Morgan Stanley lifted their price target on shares of Palantir Technologies from $17.00 to $19.00 and gave the stock an “underweight” rating in a research note on Wednesday, February 17th. They noted that the move was a valuation call. Jefferies Financial Group dropped their price target on shares of Palantir Technologies from $40.00 to $28.00 and set a “buy” rating on the stock in a research note on Wednesday. They noted that the move was a valuation call. Finally, The Goldman Sachs Group raised shares of Palantir Technologies from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $13.00 to $34.00 in a report on Wednesday, February 17th.
In other Palantir Technologies news, insider Ryan D. Taylor sold 218,255 shares of the business’s stock in a transaction dated Thursday, February 18th. The shares were sold at an average price of $25.17, for a total transaction of $5,493,478.35. Following the completion of the transaction, the insider now directly owns 1,799,189 shares of the company’s stock, valued at approximately $45,285,587.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Alexander C. Karp sold 638,629 shares of the business’s stock in a transaction dated Thursday, May 6th. The shares were sold at an average price of $20.14, for a total transaction of $12,861,988.06. Following the transaction, the insider now directly owns 7,068,787 shares of the company’s stock, valued at $142,365,370.18. The disclosure for this sale can be found here. Insiders sold a total of 5,509,099 shares of company stock valued at $125,875,655 over the last ninety days.
Institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC acquired a new position in Palantir Technologies during the 4th quarter valued at about $1,105,000. BlackRock Inc. raised its position in shares of Palantir Technologies by 13.8% during the 4th quarter. BlackRock Inc. now owns 33,350,543 shares of the company’s stock worth $785,406,000 after buying an additional 4,051,396 shares in the last quarter. Glassman Wealth Services raised its position in shares of Palantir Technologies by 689.5% during the 4th quarter. Glassman Wealth Services now owns 7,145 shares of the company’s stock worth $168,000 after buying an additional 6,240 shares in the last quarter. Glynn Capital Management LLC bought a new stake in shares of Palantir Technologies during the 1st quarter worth about $55,565,000. Finally, Chicago Capital LLC bought a new stake in shares of Palantir Technologies during the 1st quarter worth about $3,186,000. 10.13% of the stock is owned by hedge funds and other institutional investors.
Shares of Palantir Technologies stock opened at $20.08 on Friday. Palantir Technologies has a 12-month low of $8.90 and a 12-month high of $45.00. The company has a 50-day moving average of $22.44 and a two-hundred day moving average of $24.36.
Palantir Technologies (NYSE:PLTR) last issued its earnings results on Tuesday, May 11th. The company reported $0.04 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.04. The company had revenue of $341.20 million during the quarter, compared to analysts’ expectations of $332.22 million. The firm’s revenue was up 48.8% compared to the same quarter last year. As a group, sell-side analysts predict that Palantir Technologies will post -1.35 earnings per share for the current year.
About Palantir Technologies
Palantir Technologies Inc builds and deploys software platforms for the intelligence community in the United States to assist in counterterrorism investigations and operations. The company provides Palantir Gotham, a software platform for government operatives in the defense and intelligence sectors, 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.
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