Palantir Technologies Inc. (NASDAQ:PLTR) Receives $172.28 Average Price Target from Analysts

Shares of Palantir Technologies Inc. (NASDAQ:PLTR) have earned a consensus rating of “Hold” from the twenty-three research firms that are covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, sixteen have given a hold recommendation and five have given a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $172.2750.

PLTR has been the subject of a number of recent analyst reports. Mizuho lifted their price objective on Palantir Technologies from $165.00 to $205.00 and gave the company a “neutral” rating in a research report on Tuesday, November 4th. HSBC raised their price target on Palantir Technologies from $181.00 to $197.00 and gave the stock a “hold” rating in a research note on Wednesday, November 5th. Raymond James Financial restated a “market perform” rating on shares of Palantir Technologies in a report on Tuesday, November 4th. Royal Bank Of Canada raised their target price on shares of Palantir Technologies from $45.00 to $50.00 and gave the stock an “underperform” rating in a research report on Tuesday, November 4th. Finally, Robert W. Baird boosted their target price on shares of Palantir Technologies from $170.00 to $200.00 and gave the company a “neutral” rating in a report on Tuesday, November 4th.

Insider Activity at Palantir Technologies

In other news, insider Stephen Andrew Cohen sold 39,136 shares of the company’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $156.25, for a total transaction of $6,115,000.00. Following the completion of the sale, the insider directly owned 592 shares in the company, valued at $92,500. This represents a 98.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider David A. Glazer sold 9,000 shares of the stock in a transaction on Friday, December 12th. The stock was sold at an average price of $185.91, for a total value of $1,673,190.00. Following the completion of the transaction, the insider directly owned 413,639 shares in the company, valued at $76,899,626.49. This trade represents a 2.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 1,008,844 shares of company stock worth $164,750,951. 9.23% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Palantir Technologies

Several hedge funds and other institutional investors have recently modified their holdings of PLTR. Strategic Investment Advisors MI increased its position in Palantir Technologies by 78.1% during the 3rd quarter. Strategic Investment Advisors MI now owns 3,499 shares of the company’s stock worth $638,000 after purchasing an additional 1,534 shares in the last quarter. Keel Point LLC lifted its position in Palantir Technologies by 1.4% during the third quarter. Keel Point LLC now owns 17,560 shares of the company’s stock valued at $3,203,000 after buying an additional 250 shares in the last quarter. Mirabella Financial Services LLP grew its stake in Palantir Technologies by 123.1% during the third quarter. Mirabella Financial Services LLP now owns 21,255 shares of the company’s stock worth $3,870,000 after buying an additional 11,728 shares during the period. New Mexico Educational Retirement Board grew its stake in Palantir Technologies by 7.2% during the third quarter. New Mexico Educational Retirement Board now owns 102,700 shares of the company’s stock worth $18,735,000 after buying an additional 6,900 shares during the period. Finally, Strategic Investment Solutions Inc. IL increased its position in shares of Palantir Technologies by 28.0% in the third quarter. Strategic Investment Solutions Inc. IL now owns 13,819 shares of the company’s stock worth $2,521,000 after acquiring an additional 3,021 shares in the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Stock Performance

Shares of PLTR opened at $177.29 on Monday. Palantir Technologies has a 1 year low of $63.40 and a 1 year high of $207.52. The company’s 50 day simple moving average is $179.37 and its 200 day simple moving average is $164.85. The company has a market capitalization of $422.56 billion, a price-to-earnings ratio of 422.13, a PEG ratio of 7.28 and a beta of 1.49.

Palantir Technologies (NASDAQ:PLTR) last released its earnings results on Monday, November 3rd. The company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.17 by $0.04. The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Palantir Technologies had a net margin of 28.11% and a return on equity of 15.48%. Palantir Technologies’s revenue for the quarter was up 62.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.10 EPS. Equities analysts expect that Palantir Technologies will post 0.31 EPS for the current fiscal year.

Palantir Technologies Company Profile

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.