Cantor Fitzgerald Initiates Coverage on Palantir Technologies (NASDAQ:PLTR)

Equities researchers at Cantor Fitzgerald started coverage on shares of Palantir Technologies (NASDAQ:PLTR) in a research report issued on Friday, MarketBeat Ratings reports. The brokerage set a “neutral” rating and a $72.00 price target on the stock. Cantor Fitzgerald’s target price indicates a potential upside of 0.32% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. Argus cut Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Baird R W raised shares of Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. 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 note on Tuesday, November 5th. Morgan Stanley reiterated an “underweight” rating and set a $60.00 target price on shares of Palantir Technologies in a research report on Monday, January 6th. Finally, Robert W. Baird initiated coverage on Palantir Technologies in a report on Thursday, December 12th. They set a “neutral” rating and a $70.00 target price on the stock. Seven analysts have rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $43.78.

Palantir Technologies Stock Performance

PLTR opened at $71.77 on Friday. Palantir Technologies has a twelve month low of $16.03 and a twelve month high of $84.80. The firm has a market cap of $163.49 billion, a price-to-earnings ratio of 358.87, a PEG ratio of 6.24 and a beta of 2.82. The firm’s 50-day simple moving average is $70.49 and its 200-day simple moving average is $47.17.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The business had revenue of $725.52 million during the quarter, compared to analysts’ expectations of $705.11 million. During the same period in the previous year, the business posted $0.03 earnings per share. The firm’s revenue for the quarter was up 30.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Palantir Technologies will post 0.2 EPS for the current fiscal year.

Insider Activity

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 10,721 shares of Palantir Technologies stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $76.78, for a total value of $823,158.38. Following the completion of the sale, the director now owns 100,923 shares in the company, valued at $7,748,867.94. The trade was a 9.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ryan D. Taylor sold 123,334 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $45.00, for a total value of $5,550,030.00. Following the completion of the sale, the insider now owns 331,369 shares of the company’s stock, valued at approximately $14,911,605. This trade represents a 27.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,642,189 shares of company stock valued at $1,444,232,453. 12.93% of the stock is owned by insiders.

Institutional Investors Weigh In On Palantir Technologies

A number of large investors have recently bought and sold shares of PLTR. Dimensional Fund Advisors LP raised its holdings in shares of Palantir Technologies by 10.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,880,610 shares of the company’s stock worth $72,963,000 after buying an additional 278,544 shares in the last quarter. Edgestream Partners L.P. acquired a new position in Palantir Technologies during the second quarter worth about $350,000. Wealth Alliance bought a new position in shares of Palantir Technologies in the second quarter worth about $247,000. Mercer Global Advisors Inc. ADV boosted its stake in shares of Palantir Technologies by 18.8% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 189,550 shares of the company’s stock valued at $4,728,000 after purchasing an additional 30,030 shares in the last quarter. Finally, Amalgamated Bank grew its holdings in shares of Palantir Technologies by 5.0% during the 2nd quarter. Amalgamated Bank now owns 135,982 shares of the company’s stock valued at $3,444,000 after purchasing an additional 6,472 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

About Palantir Technologies

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.