Palantir Technologies (NYSE:PLTR) Coverage Initiated at Argus

Argus began coverage on shares of Palantir Technologies (NYSE:PLTRGet Free Report) in a note issued to investors on Monday, Marketbeat reports. The firm set a “buy” rating and a $29.00 price target on the stock. Argus’ price objective would suggest a potential upside of 12.32% from the stock’s current price.

A number of other brokerages also recently weighed in on PLTR. Mizuho upped their price target on shares of Palantir Technologies from $18.00 to $21.00 and gave the stock a “neutral” rating in a report on Thursday, March 7th. HSBC upped their price target on shares of Palantir Technologies from $22.00 to $23.00 and gave the stock a “hold” rating in a report on Tuesday, May 7th. Bank of America upped their price target on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. DA Davidson increased their price objective on shares of Palantir Technologies from $19.00 to $24.00 and gave the company a “neutral” rating in a research note on Tuesday, May 7th. Finally, Monness Crespi & Hardt raised shares of Palantir Technologies from a “sell” rating to a “neutral” rating in a research note on Friday, April 26th. Five investment analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Palantir Technologies currently has an average rating of “Hold” and an average target price of $21.25.

Get Our Latest Analysis on PLTR

Palantir Technologies Stock Performance

Shares of PLTR opened at $25.82 on Monday. Palantir Technologies has a 52 week low of $13.56 and a 52 week high of $27.50. The firm has a market cap of $57.50 billion, a P/E ratio of 215.18, a price-to-earnings-growth ratio of 5.44 and a beta of 2.70. The firm’s 50-day simple moving average is $22.15 and its 200 day simple moving average is $21.14.

Palantir Technologies (NYSE:PLTRGet Free Report) last announced its quarterly earnings results on Monday, May 6th. The company reported $0.04 EPS for the quarter, meeting analysts’ consensus estimates of $0.04. Palantir Technologies had a net margin of 12.79% and a return on equity of 8.28%. The business had revenue of $634.34 million for the quarter, compared to analyst estimates of $614.88 million. As a group, equities analysts forecast that Palantir Technologies will post 0.16 earnings per share for the current year.

Insider Activity at Palantir Technologies

In related news, Director Eric H. Woersching sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $24.24, for a total transaction of $72,720.00. Following the completion of the sale, the director now owns 35,843 shares in the company, valued at $868,834.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Eric H. Woersching sold 3,000 shares of Palantir Technologies stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $24.24, for a total value of $72,720.00. Following the completion of the transaction, the director now owns 35,843 shares in the company, valued at $868,834.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Peter Thiel sold 6,285,833 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $21.33, for a total transaction of $134,076,817.89. Following the transaction, the director now directly owns 64,520,599 shares of the company’s stock, valued at approximately $1,376,224,376.67. The disclosure for this sale can be found here. Insiders have sold 11,374,153 shares of company stock valued at $239,976,945 over the last ninety days. Corporate insiders own 12.93% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in PLTR. Pursue Wealth Partners LLC purchased a new stake in shares of Palantir Technologies in the 4th quarter worth about $1,741,000. Vanguard Group Inc. lifted its stake in shares of Palantir Technologies by 3.5% in the 4th quarter. Vanguard Group Inc. now owns 193,805,263 shares of the company’s stock worth $3,327,636,000 after purchasing an additional 6,466,596 shares during the period. Trexquant Investment LP bought a new position in shares of Palantir Technologies in the 3rd quarter worth approximately $4,446,000. Raymond James Financial Services Advisors Inc. lifted its stake in shares of Palantir Technologies by 10.8% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 1,196,790 shares of the company’s stock worth $20,549,000 after purchasing an additional 116,220 shares during the period. Finally, Korea Investment CORP lifted its stake in shares of Palantir Technologies by 148.4% in the 3rd quarter. Korea Investment CORP now owns 193,957 shares of the company’s stock worth $3,103,000 after purchasing an additional 115,876 shares during the period. 45.65% of the stock is owned by hedge funds and other institutional investors.

About Palantir Technologies

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Palantir Technologies (NYSE:PLTR)

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