Investment Analysts’ Recent Ratings Updates for Palantir Technologies (PLTR)

Posted by Stephan Jacobs on Nov 22nd, 2024

Palantir Technologies (NYSE: PLTR) has recently received a number of price target changes and ratings updates:

11/7/2024 – Palantir Technologies was downgraded by analysts at Jefferies Financial Group Inc. from a “hold” rating to an “underperform” rating. They now have a $28.00 price target on the stock.
11/7/2024 – Palantir Technologies had its price target raised by analysts at The Goldman Sachs Group, Inc. from $16.00 to $41.00. They now have a “neutral” rating on the stock.
11/7/2024 – Palantir Technologies was downgraded by analysts at Argus from a “buy” rating to a “hold” rating.
11/5/2024 – Palantir Technologies had its price target raised by analysts at Mizuho from $30.00 to $37.00. They now have an “underperform” rating on the stock.
11/5/2024 – Palantir Technologies had its price target raised by analysts at DA Davidson from $28.00 to $47.00. They now have a “neutral” rating on the stock.
11/5/2024 – Palantir Technologies had its price target raised by analysts at Northland Securities from $35.00 to $38.00. They now have a “market perform” rating on the stock.
10/17/2024 – Palantir Technologies had its price target raised by analysts at Mizuho from $24.00 to $30.00. They now have an “underperform” rating on the stock.
9/26/2024 – Palantir Technologies had its price target raised by analysts at Wedbush from $38.00 to $45.00. They now have an “outperform” rating on the stock.
9/23/2024 – Palantir Technologies was downgraded by analysts at Raymond James from an “outperform” rating to a “market perform” rating.

Palantir Technologies Stock Up 4.4 %

Shares of NYSE:PLTR traded up $2.68 during midday trading on Friday, reaching $64.04. The company’s stock had a trading volume of 31,513,375 shares, compared to its average volume of 58,687,398. The firm has a market capitalization of $145.88 billion, a PE ratio of 320.22 and a beta of 2.70. Palantir Technologies Inc. has a twelve month low of $15.66 and a twelve month high of $66.00. The stock has a fifty day moving average of $45.36 and a 200 day moving average of $33.04.

Palantir Technologies (NYSE:PLTR – Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The firm had revenue of $725.52 million for the quarter, compared to the consensus estimate of $705.11 million. During the same period in the prior year, the firm posted $0.03 earnings per share. The firm’s quarterly revenue was up 30.0% compared to the same quarter last year. Sell-side analysts anticipate that Palantir Technologies Inc. will post 0.21 earnings per share for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In other news, Director Alexander D. Moore sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $30.89, for a total value of $617,800.00. Following the transaction, the director now directly owns 1,510,630 shares of the company’s stock, valued at approximately $46,663,360.70. This trade represents a 1.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Heather A. Planishek sold 14,016 shares of the firm’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $30.67, for a total transaction of $429,870.72. Following the sale, the insider now owns 576,023 shares of the company’s stock, valued at approximately $17,666,625.41. The trade was a 2.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 32,547,056 shares of company stock valued at $1,500,642,721 over the last ninety days. Corporate insiders own 12.93% of the company’s stock.

Institutional Investors Weigh In On Palantir Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the company. Northwest Investment Counselors LLC acquired a new stake in shares of Palantir Technologies during the third quarter valued at about $25,000. Prestige Wealth Management Group LLC increased its position in shares of Palantir Technologies by 747.1% during the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after acquiring an additional 650 shares during the last quarter. Summit Securities Group LLC acquired a new stake in shares of Palantir Technologies during the second quarter valued at about $25,000. Farmers & Merchants Investments Inc. acquired a new stake in shares of Palantir Technologies during the second quarter valued at about $25,000. Finally, Creekmur Asset Management LLC grew its holdings in shares of Palantir Technologies by 46.0% in the third quarter. Creekmur Asset Management LLC now owns 1,063 shares of the company’s stock valued at $40,000 after purchasing an additional 335 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

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.