Palantir Technologies Inc. (NASDAQ:PLTR) Receives $41.00 Average Price Target from Brokerages

Palantir Technologies Inc. (NASDAQ:PLTR) has earned a consensus recommendation of “Reduce” from the nineteen analysts that are currently covering the stock, Marketbeat.com reports. Six research analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation and two have issued a buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $41.00.

Several research analysts have recently commented on PLTR shares. Baird R W raised Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. The Goldman Sachs Group boosted their price target on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Northland Securities raised their price objective on shares of Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a research report on Tuesday, November 5th. DA Davidson upped their target price on shares of Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Finally, Argus downgraded Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th.

Palantir Technologies Trading Up 6.3 %

Shares of NASDAQ:PLTR opened at $79.89 on Monday. The company has a 50 day moving average of $66.28 and a 200 day moving average of $44.12. The stock has a market cap of $181.99 billion, a P/E ratio of 399.47, a P/E/G ratio of 10.18 and a beta of 2.87. Palantir Technologies has a 12 month low of $15.66 and a 12 month high of $84.80.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.01. The firm had revenue of $725.52 million for the quarter, compared to analysts’ expectations of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The business’s quarterly revenue was up 30.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.03 earnings per share. On average, equities analysts forecast that Palantir Technologies will post 0.21 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 416,053 shares of the company’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $74.17, for a total value of $30,858,651.01. Following the completion of the transaction, the insider now directly owns 592 shares in the company, valued at approximately $43,908.64. This represents a 99.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alexander C. Karp sold 3,337,048 shares of Palantir Technologies stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $45.02, for a total transaction of $150,233,900.96. Following the sale, the insider now directly owns 6,432,258 shares in the company, valued at $289,580,255.16. The trade was a 34.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,160,723 shares of company stock valued at $1,408,158,941 in the last quarter. Insiders own 12.93% of the company’s stock.

Institutional Trading of Palantir Technologies

Several large investors have recently bought and sold shares of the company. Farmers & Merchants Investments Inc. purchased a new stake in Palantir Technologies in the second quarter worth $25,000. Northwest Investment Counselors LLC purchased a new stake in shares of Palantir Technologies in the 3rd quarter worth about $25,000. Prestige Wealth Management Group LLC increased its stake in shares of Palantir Technologies by 747.1% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after acquiring an additional 650 shares in the last quarter. University of Texas Texas AM Investment Management Co. purchased a new position in Palantir Technologies during the 2nd quarter valued at about $30,000. Finally, Ashburton Jersey Ltd bought a new stake in Palantir Technologies during the second quarter worth about $36,000. 45.65% of the stock is owned by institutional investors.

Palantir Technologies Company Profile

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.