Palantir Technologies (NYSE:PLTR) Rating Reiterated by Wedbush

Palantir Technologies (NYSE:PLTR)‘s stock had its “outperform” rating reissued by research analysts at Wedbush in a report issued on Monday, Benzinga reports. They currently have a $35.00 price target on the stock. Wedbush’s price target points to a potential upside of 50.02% from the stock’s current price.

PLTR has been the topic of several other reports. Royal Bank of Canada reiterated an “underperform” rating and set a $5.00 target price on shares of Palantir Technologies in a research report on Tuesday, February 6th. HSBC downgraded shares of Palantir Technologies from a “buy” rating to a “hold” rating and set a $22.00 price objective on the stock. in a research report on Wednesday, February 14th. Monness Crespi & Hardt upgraded shares of Palantir Technologies from a “sell” rating to a “neutral” rating in a report on Friday, April 26th. Citigroup upgraded shares of Palantir Technologies from a “sell” rating to a “neutral” rating and increased their price target for the stock from $10.00 to $20.00 in a research note on Tuesday, February 6th. Finally, Raymond James increased their price target on shares of Palantir Technologies from $22.00 to $25.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 6th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, Palantir Technologies has a consensus rating of “Hold” and a consensus target price of $18.35.

Palantir Technologies Price Performance

PLTR stock opened at $23.33 on Monday. The company has a market cap of $51.62 billion, a P/E ratio of 259.25, a price-to-earnings-growth ratio of 5.72 and a beta of 2.76. Palantir Technologies has a 1 year low of $7.28 and a 1 year high of $27.50. The stock’s fifty day moving average price is $23.36 and its 200-day moving average price is $20.25.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings results on Monday, February 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The firm had revenue of $608.35 million during the quarter, compared to analysts’ expectations of $603.48 million. Palantir Technologies had a return on equity of 6.17% and a net margin of 9.43%. As a group, analysts expect that Palantir Technologies will post 0.16 earnings per share for the current year.

Insider Activity

In related news, insider Ryan D. Taylor sold 120,000 shares of the stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $22.00, for a total value of $2,640,000.00. Following the completion of the sale, the insider now directly owns 181,460 shares in the company, valued at approximately $3,992,120. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Ryan D. Taylor sold 120,000 shares of the stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $22.00, for a total value of $2,640,000.00. Following the completion of the sale, the insider now directly owns 181,460 shares in the company, valued at approximately $3,992,120. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Alexander D. Moore sold 20,000 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $22.02, for a total value of $440,400.00. Following the completion of the sale, the director now owns 1,595,519 shares of the company’s stock, valued at $35,133,328.38. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,476,273 shares of company stock valued at $184,783,602. Company insiders own 13.96% of the company’s stock.

Institutional Trading of Palantir Technologies

Several large investors have recently modified their holdings of the business. Geneos Wealth Management Inc. grew its stake in shares of Palantir Technologies by 7.5% during the first quarter. Geneos Wealth Management Inc. now owns 12,118 shares of the company’s stock valued at $279,000 after acquiring an additional 842 shares in the last quarter. Signaturefd LLC grew its stake in Palantir Technologies by 8.5% in the first quarter. Signaturefd LLC now owns 39,999 shares of the company’s stock worth $920,000 after purchasing an additional 3,136 shares in the last quarter. Mediolanum International Funds Ltd acquired a new position in Palantir Technologies in the first quarter worth about $597,000. RIA Advisory Group LLC acquired a new position in Palantir Technologies in the first quarter worth about $287,000. Finally, Wellington Shields Capital Management LLC acquired a new position in Palantir Technologies in the first quarter worth about $121,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Palantir Technologies Company Profile

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. 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.