Palantir Technologies (NASDAQ:PLTR) Now Covered by Benchmark

Research analysts at Benchmark assumed coverage on shares of Palantir Technologies (NASDAQ:PLTRGet Free Report) in a research report issued to clients and investors on Wednesday,MarketScreener reports. The firm set a “hold” rating on the stock.

PLTR has been the subject of a number of other reports. Phillip Securities cut their price objective on Palantir Technologies from $208.00 to $190.00 and set a “buy” rating for the company in a research report on Wednesday. Robert W. Baird upgraded Palantir Technologies from a “neutral” rating to an “outperform” rating and set a $200.00 target price for the company in a research report on Tuesday, February 3rd. Citigroup lifted their price target on Palantir Technologies from $235.00 to $260.00 and gave the company a “buy” rating in a research note on Tuesday, February 3rd. Mizuho raised shares of Palantir Technologies from a “neutral” rating to an “outperform” rating and set a $195.00 price target on the stock in a report on Wednesday, February 18th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $200.00 price target on shares of Palantir Technologies in a report on Tuesday, February 3rd. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Palantir Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $197.77.

View Our Latest Research Report on PLTR

Palantir Technologies Stock Performance

Palantir Technologies stock traded up $0.98 during midday trading on Wednesday, reaching $147.26. The stock had a trading volume of 11,397,551 shares, compared to its average volume of 49,377,254. Palantir Technologies has a 1-year low of $66.12 and a 1-year high of $207.52. The firm’s fifty day simple moving average is $146.95 and its 200-day simple moving average is $168.18. The stock has a market capitalization of $352.21 billion, a P/E ratio of 233.62, a price-to-earnings-growth ratio of 2.73 and a beta of 1.70.

Palantir Technologies (NASDAQ:PLTRGet Free Report) last issued its quarterly earnings results on Monday, February 2nd. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.02. The firm had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.34 billion. Palantir Technologies had a net margin of 36.31% and a return on equity of 23.81%. The company’s revenue was up 70.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.14 EPS. On average, sell-side analysts anticipate that Palantir Technologies will post 0.31 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Ryan D. Taylor sold 19,988 shares of the stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $133.72, for a total value of $2,672,795.36. Following the completion of the sale, the insider owned 219,421 shares in the company, valued at $29,340,976.12. This represents a 8.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Stephen Andrew Cohen sold 327,088 shares of the stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $133.72, for a total value of $43,738,207.36. Following the sale, the insider directly owned 592 shares of the company’s stock, valued at $79,162.24. The trade was a 99.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 1,045,279 shares of company stock valued at $140,539,043. 12.93% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PLTR. J. Derek Lewis & Associates Inc. bought a new position in Palantir Technologies during the fourth quarter valued at $2,165,000. Up Capital Management Inc. purchased a new position in Palantir Technologies during the fourth quarter worth about $10,269,000. Purpose Unlimited Inc. bought a new position in shares of Palantir Technologies in the fourth quarter worth approximately $20,089,000. Cornerstone Planning LLC bought a new stake in Palantir Technologies during the fourth quarter valued at approximately $5,651,000. Finally, AMG Asset Management Group Inc. bought a new position in shares of Palantir Technologies in the 4th quarter worth $249,000. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting Palantir Technologies

Here are the key news stories impacting Palantir Technologies this week:

Palantir Technologies Company Profile

(Get Free Report)

Palantir Technologies is a software company that develops data integration, analytics and operational decision-making platforms for government and commercial customers. Founded in 2003 by a team that included Alex Karp and Peter Thiel, Palantir has grown into a provider of enterprise-scale software designed to help organizations integrate disparate data sources, build analytic models and drive operational workflows. The company went public in 2020 and continues to position its products around large, complex data projects where security, provenance and real-time collaboration are important.

Palantir’s product portfolio centers on a small number of core platforms.

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