Palantir Technologies Inc. (NYSE:PLTR) Receives Average Recommendation of “Hold” from Analysts

Posted by on Jun 19th, 2022

Shares of Palantir Technologies Inc. (NYSE:PLTR – Get Rating) have earned an average rating of “Hold” from the nine brokerages that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $14.89.

A number of equities analysts have weighed in on PLTR shares. Royal Bank of Canada lowered Palantir Technologies from a “sector perform” rating to an “underperform” rating and decreased their target price for the stock from $12.00 to $6.00 in a research note on Monday, May 9th. Piper Sandler increased their target price on Palantir Technologies from $15.00 to $16.00 and gave the company an “overweight” rating in a report on Friday, April 22nd. Deutsche Bank Aktiengesellschaft dropped their price objective on Palantir Technologies from $15.00 to $11.00 in a report on Tuesday, May 10th. Citigroup dropped their price objective on Palantir Technologies from $10.00 to $7.00 in a report on Tuesday, May 10th. Finally, Morgan Stanley upgraded Palantir Technologies from an “underweight” rating to an “equal weight” rating and lowered their target price for the company from $24.00 to $16.00 in a research note on Monday, March 7th.

NYSE PLTR opened at $8.24 on Friday. The business has a 50 day moving average price of $9.57 and a 200-day moving average price of $12.87. Palantir Technologies has a 52 week low of $6.44 and a 52 week high of $29.29. The company has a market cap of $16.73 billion, a price-to-earnings ratio of -32.96 and a beta of 5.05.

Palantir Technologies (NYSE:PLTR – Get Rating) last posted its quarterly earnings data on Monday, May 9th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.02). Palantir Technologies had a positive return on equity of 12.04% and a negative net margin of 30.25%. The business had revenue of $446.36 million during the quarter, compared to analysts’ expectations of $443.51 million. During the same period in the prior year, the firm posted $0.04 EPS. The firm’s revenue for the quarter was up 30.8% on a year-over-year basis. On average, equities analysts expect that Palantir Technologies will post -0.07 EPS for the current year.

In related news, Director Alexander D. Moore sold 36,500 shares of the business’s stock in a transaction dated Friday, April 1st. The stock was sold at an average price of $13.75, for a total value of $501,875.00. Following the sale, the director now directly owns 1,939,626 shares in the company, valued at $26,669,857.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Ryan D. Taylor sold 48,656 shares of the business’s stock in a transaction dated Friday, May 20th. The stock was sold at an average price of $8.09, for a total value of $393,627.04. Following the completion of the sale, the insider now owns 720,370 shares in the company, valued at $5,827,793.30. The disclosure for this sale can be found here. Insiders sold 119,199 shares of company stock worth $1,178,652 over the last 90 days. Company insiders own 17.00% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Palantir Technologies by 26.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 488,940 shares of the company’s stock worth $8,904,000 after acquiring an additional 100,741 shares during the last quarter. Allen Investment Management LLC grew its stake in shares of Palantir Technologies by 368.9% during the fourth quarter. Allen Investment Management LLC now owns 469,132 shares of the company’s stock valued at $8,543,000 after buying an additional 369,083 shares during the last quarter. abrdn plc grew its stake in shares of Palantir Technologies by 4.3% during the fourth quarter. abrdn plc now owns 140,819 shares of the company’s stock valued at $2,564,000 after buying an additional 5,744 shares during the last quarter. Byrne Asset Management LLC bought a new position in shares of Palantir Technologies during the fourth quarter valued at approximately $101,000. Finally, Bouvel Investment Partners LLC grew its stake in shares of Palantir Technologies by 1.2% during the fourth quarter. Bouvel Investment Partners LLC now owns 99,153 shares of the company’s stock valued at $1,806,000 after buying an additional 1,209 shares during the last quarter. 40.02% of the stock is currently owned by institutional investors.

Palantir Technologies Company Profile (Get Rating)

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 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.

Further Reading

Analyst Recommendations for Palantir Technologies (NYSE:PLTR)

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