Palantir Technologies Inc. (NASDAQ:PLTR) Receives $44.61 Consensus Price Target from Analysts

Shares of Palantir Technologies Inc. (NASDAQ:PLTR) have earned a consensus rating of “Reduce” from the twenty-one research firms that are covering the company, MarketBeat.com reports. Seven investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have given a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $44.61.

PLTR has been the subject of several research analyst reports. Northland Securities boosted their price target on shares of Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a report on Tuesday, November 5th. The Goldman Sachs Group boosted their price target on shares of Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. William Blair reissued an “underperform” rating on shares of Palantir Technologies in a report on Wednesday, December 18th. Mizuho upped their target price on shares of Palantir Technologies from $37.00 to $44.00 and gave the stock an “underperform” rating in a research note on Friday, December 13th. Finally, Wedbush upped their target price on shares of Palantir Technologies from $75.00 to $90.00 and gave the stock an “outperform” rating in a research note on Thursday, January 23rd.

Palantir Technologies Stock Performance

Shares of Palantir Technologies stock opened at $81.22 on Friday. The firm has a fifty day moving average of $72.94 and a two-hundred day moving average of $50.10. The stock has a market capitalization of $185.02 billion, a price-to-earnings ratio of 406.12, a PEG ratio of 7.29 and a beta of 2.82. Palantir Technologies has a 52 week low of $16.03 and a 52 week high of $84.80.

Palantir Technologies (NASDAQ:PLTR) last issued its earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, beating the consensus estimate 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 analysts’ expectations of $705.11 million. During the same quarter in the previous year, the company posted $0.03 EPS. The business’s revenue for the quarter was up 30.0% compared to the same quarter last year. As a group, research analysts forecast that Palantir Technologies will post 0.19 EPS for the current fiscal year.

Insider Activity

In other news, Director Lauren Elaina Friedman Stat sold 8,054 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $50.49, for a total value of $406,646.46. Following the sale, the director now directly owns 130,250 shares of the company’s stock, valued at approximately $6,576,322.50. This represents a 5.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Stephen Andrew Cohen sold 450,000 shares of the stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $70.95, for a total transaction of $31,927,500.00. Following the completion of the transaction, the insider now directly owns 592 shares in the company, valued at approximately $42,002.40. This represents a 99.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,181,807 shares of company stock valued at $1,288,448,522. 12.93% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Valmark Advisers Inc. boosted its position in shares of Palantir Technologies by 5.0% during the 4th quarter. Valmark Advisers Inc. now owns 7,030 shares of the company’s stock worth $532,000 after acquiring an additional 337 shares in the last quarter. L.M. Kohn & Company acquired a new stake in shares of Palantir Technologies during the 4th quarter worth approximately $550,000. Game Plan Financial Advisors LLC boosted its position in shares of Palantir Technologies by 2.5% during the 4th quarter. Game Plan Financial Advisors LLC now owns 16,848 shares of the company’s stock worth $1,286,000 after acquiring an additional 408 shares in the last quarter. Lee Financial Co acquired a new stake in shares of Palantir Technologies during the 4th quarter worth approximately $207,000. Finally, Tcfg Wealth Management LLC boosted its position in shares of Palantir Technologies by 31.0% during the 4th quarter. Tcfg Wealth Management LLC now owns 7,058 shares of the company’s stock worth $534,000 after acquiring an additional 1,672 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

About Palantir Technologies

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.