Palantir Technologies (NYSE:PLTR) Stock Price Up 0% – Should You Buy?

Palantir Technologies Inc. (NYSE:PLTR)’s stock price was up 0% during trading on Wednesday . The stock traded as high as $67.56 and last traded at $65.75. Approximately 22,105,993 shares traded hands during trading, a decline of 62% from the average daily volume of 58,676,020 shares. The stock had previously closed at $65.74.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on PLTR shares. DA Davidson boosted their price objective on shares of Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Royal Bank of Canada reissued an “underperform” rating and issued a $9.00 price objective on shares of Palantir Technologies in a research report on Tuesday, August 6th. Wedbush upped their price target on shares of Palantir Technologies from $57.00 to $75.00 and gave the stock an “outperform” rating in a research report on Monday. Monness Crespi & Hardt lowered their price target on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating for the company in a research report on Tuesday, August 6th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Palantir Technologies from $20.00 to $21.00 and gave the stock a “sell” rating in a research report on Tuesday, August 6th. Six investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Palantir Technologies presently has a consensus rating of “Hold” and an average price target of $35.64.

Palantir Technologies Price Performance

The stock has a market cap of $149.76 billion, a price-to-earnings ratio of 328.77 and a beta of 2.70. The business’s fifty day moving average is $47.09 and its two-hundred day moving average is $34.10.

Palantir Technologies (NYSE:PLTR) last issued 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 company had revenue of $725.52 million during the quarter, compared to the consensus estimate of $705.11 million. During the same quarter in the previous year, the firm earned $0.03 earnings per share. The firm’s quarterly revenue was up 30.0% on a year-over-year basis. As a group, sell-side analysts expect that Palantir Technologies Inc. will post 0.21 earnings per share for the current year.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Heather A. Planishek sold 14,016 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $30.67, for a total value of $429,870.72. Following the transaction, the insider now directly 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 6,000 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $36.35, for a total transaction of $218,100.00. Following the completion of the transaction, the director now directly owns 152,280 shares in the company, valued at $5,535,378. This represents a 3.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,167,451 shares of company stock worth $1,603,067,889. 12.93% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Palantir Technologies

Institutional investors have recently bought and sold shares of the company. Northwest Investment Counselors LLC acquired a new position in Palantir Technologies in the 3rd quarter valued at $25,000. Prestige Wealth Management Group LLC increased its stake in Palantir Technologies by 747.1% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after buying an additional 650 shares during the period. Summit Securities Group LLC acquired a new position in Palantir Technologies in the 2nd quarter valued at $25,000. Farmers & Merchants Investments Inc. acquired a new position in shares of Palantir Technologies during the 2nd quarter worth $25,000. Finally, Creekmur Asset Management LLC grew its stake in shares of Palantir Technologies by 46.0% during the 3rd quarter. Creekmur Asset Management LLC now owns 1,063 shares of the company’s stock worth $40,000 after purchasing an additional 335 shares during the period. 45.65% of the stock is 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.