Palantir Technologies (NYSE:PLTR) Receives New Coverage from Analysts at HSBC

Investment analysts at HSBC initiated coverage on shares of Palantir Technologies (NYSE:PLTR) in a research report issued to clients and investors on Friday, FlyOnTheWall reports. The brokerage set a “hold” rating on the stock.

A number of other equities analysts have also recently commented on the company. Raymond James lifted their target price on Palantir Technologies from $18.00 to $22.00 and gave the stock an “outperform” rating in a report on Tuesday, August 8th. Bank of America lifted their target price on Palantir Technologies from $13.00 to $18.00 and gave the stock a “buy” rating in a report on Monday, June 12th. DA Davidson raised their price target on Palantir Technologies from $8.50 to $15.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 8th. Mizuho raised their price target on Palantir Technologies from $14.00 to $16.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 8th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Palantir Technologies from $7.00 to $9.00 in a research note on Tuesday, August 8th. Six analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Palantir Technologies currently has an average rating of “Hold” and a consensus target price of $13.04.

Palantir Technologies Price Performance

NYSE PLTR opened at $15.83 on Friday. The stock has a market capitalization of $34.06 billion, a PE ratio of -527.67, a P/E/G ratio of 3.92 and a beta of 2.80. The business has a 50 day simple moving average of $16.17 and a two-hundred day simple moving average of $12.60. Palantir Technologies has a 1-year low of $5.84 and a 1-year high of $20.24.

Palantir Technologies (NYSE:PLTR) last announced its earnings results on Monday, August 7th. The company reported $0.01 EPS for the quarter, hitting analysts’ consensus estimates of $0.01. The firm had revenue of $533.32 million during the quarter, compared to analysts’ expectations of $533.88 million. Palantir Technologies had a negative return on equity of 4.37% and a negative net margin of 2.35%. On average, analysts anticipate that Palantir Technologies will post 0.07 EPS for the current fiscal year.

Insider Transactions at Palantir Technologies

In other news, Director Lauren Elaina Friedman Stat sold 3,595 shares of the business’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $15.71, for a total value of $56,477.45. Following the completion of the transaction, the director now directly owns 61,479 shares of the company’s stock, valued at approximately $965,835.09. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Alexander D. Moore sold 37,076 shares of the business’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $15.38, for a total value of $570,228.88. Following the completion of the transaction, the director now owns 1,808,819 shares of the company’s stock, valued at approximately $27,819,636.22. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Lauren Elaina Friedman Stat sold 3,595 shares of the business’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $15.71, for a total value of $56,477.45. Following the completion of the transaction, the director now directly owns 61,479 shares of the company’s stock, valued at approximately $965,835.09. The disclosure for this sale can be found here. In the last three months, insiders sold 2,613,619 shares of company stock valued at $49,214,052. Corporate insiders own 13.96% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

Several institutional investors and hedge funds have recently modified their holdings of the stock. Bank Julius Baer & Co. Ltd Zurich lifted its holdings in shares of Palantir Technologies by 98,784.2% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 306,971,211 shares of the company’s stock valued at $4,705,869,000 after buying an additional 306,660,776 shares during the period. Vanguard Group Inc. raised its holdings in Palantir Technologies by 22.4% in the 1st quarter. Vanguard Group Inc. now owns 156,003,743 shares of the company’s stock worth $2,141,931,000 after purchasing an additional 28,563,749 shares during the period. BlackRock Inc. boosted its position in Palantir Technologies by 4.5% during the second quarter. BlackRock Inc. now owns 103,052,030 shares of the company’s stock worth $1,579,788,000 after purchasing an additional 4,420,419 shares in the last quarter. Renaissance Technologies LLC boosted its position in Palantir Technologies by 29.8% during the fourth quarter. Renaissance Technologies LLC now owns 43,000,160 shares of the company’s stock worth $276,061,000 after purchasing an additional 9,870,113 shares in the last quarter. Finally, State Street Corp boosted its position in Palantir Technologies by 0.9% during the second quarter. State Street Corp now owns 35,816,153 shares of the company’s stock worth $549,062,000 after purchasing an additional 312,531 shares in the last quarter. Institutional investors and hedge funds own 34.21% of the company’s stock.

Palantir Technologies Company Profile

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.