Palantir Technologies’ (PLTR) Underweight Rating Reiterated at Morgan Stanley

Morgan Stanley restated their underweight rating on shares of Palantir Technologies (NASDAQ:PLTR) in a research note published on Monday morning, MarketBeat Ratings reports. The firm currently has a $60.00 target price on the stock.

A number of other equities analysts also recently issued reports on the stock. DA Davidson lifted their price objective on shares of Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Bank of America boosted their price target on shares of Palantir Technologies from $55.00 to $75.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Northland Securities lifted their target price on shares of Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 5th. Jefferies Financial Group downgraded Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 target price on the stock. in a research note on Thursday, November 7th. Finally, Wedbush increased their price target on Palantir Technologies from $57.00 to $75.00 and gave the company an “outperform” rating in a research report on Monday, November 25th. Seven investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $42.12.

Palantir Technologies Price Performance

NASDAQ:PLTR opened at $68.23 on Monday. Palantir Technologies has a one year low of $16.03 and a one year high of $84.80. The company has a market cap of $155.43 billion, a PE ratio of 341.17, a PEG ratio of 10.18 and a beta of 2.82. The firm has a 50-day moving average of $67.89 and a 200-day moving average of $45.22.

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

Insider Buying and Selling

In other Palantir Technologies news, insider Ryan D. Taylor sold 123,334 shares of the firm’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $45.00, for a total value of $5,550,030.00. Following the completion of the transaction, the insider now owns 331,369 shares in the company, valued at $14,911,605. This trade represents a 27.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 7,321 shares of the company’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $43.90, for a total value of $321,391.90. Following the sale, the director now owns 138,304 shares in the company, valued at approximately $6,071,545.60. This represents a 5.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,645,510 shares of company stock valued at $1,444,267,325. Company insiders own 12.93% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Natixis Advisors LLC bought a new position in shares of Palantir Technologies in the second quarter worth approximately $274,000. TD Asset Management Inc raised its position in Palantir Technologies by 7.1% during the second quarter. TD Asset Management Inc now owns 468,890 shares of the company’s stock valued at $11,877,000 after purchasing an additional 31,047 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Palantir Technologies by 18.4% during the second quarter. Victory Capital Management Inc. now owns 660,076 shares of the company’s stock worth $16,720,000 after purchasing an additional 102,758 shares during the last quarter. Private Advisor Group LLC boosted its holdings in shares of Palantir Technologies by 12.2% in the 2nd quarter. Private Advisor Group LLC now owns 364,841 shares of the company’s stock worth $9,241,000 after purchasing an additional 39,632 shares in the last quarter. Finally, Candriam S.C.A. raised its holdings in shares of Palantir Technologies by 4.6% during the 2nd quarter. Candriam S.C.A. now owns 97,668 shares of the company’s stock valued at $2,474,000 after buying an additional 4,285 shares in the last quarter. 45.65% of the stock is currently owned by hedge funds and other 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.