$Palantir Technologies(PLTR.US)$ had its price target lowered by Morgan Stanley from $13.00 to $11.00 in a report released on Tuesday, The Fly reports. The brokerage currently has an equal weight rating on the stock.
PLTR has been the topic of several other research reports. Royal Bank of Canada lowered Palantir Technologies from a sector perform rating to an underperform rating and decreased their price objective for the stock from $12.00 to $6.00 in a report on Monday, May 9th. Raymond James initiated coverage on shares of Palantir Technologies in a research note on Thursday, July 21st. They set a strong-buy rating and a $20.00 price target on the stock. Piper Sandler raised their price objective on shares of Palantir Technologies from $15.00 to $16.00 and gave the stock an overweight rating in a report on Friday, April 22nd. The Goldman Sachs Group initiated coverage on shares of Palantir Technologies in a research note on Thursday, June 23rd. They issued a neutral rating and a $10.00 target price on the stock. Finally, Monness Crespi & Hardt cut shares of Palantir Technologies from a buy rating to a neutral rating in a research note on Friday, July 22nd. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Palantir Technologies has an average rating of Hold and an average price target of $14.00.
Palantir Technologies Price Performance
NYSE:PLTR opened at $9.91 on Tuesday. Palantir Technologies has a one year low of $6.44 and a one year high of $29.29. The company has a fifty day moving average price of $9.47 and a 200 day moving average price of $10.74. The stock has a market cap of $20.28 billion, a P/E ratio of -36.70 and a beta of 3.79.
Palantir Technologies (NYSE:PLTR – Get Rating) last announced its quarterly earnings data on Monday, August 8th. The company reported ($0.01) EPS for the quarter, missing analysts' consensus estimates of $0.03 by ($0.04). Palantir Technologies had a negative net margin of 30.90% and a positive return on equity of 0.06%. The company had revenue of $473.00 million for the quarter, compared to analyst estimates of $471.72 million. During the same period in the prior year, the company posted $0.04 EPS. The firm's quarterly revenue was up 25.9% on a year-over-year basis. As a group, equities research analysts anticipate that Palantir Technologies will post -0.07 EPS for the current year.
Insider Transactions at Palantir Technologies
In other news, insider Shyam Sankar sold 125,000 shares of the business's stock in a transaction that occurred on Friday, July 22nd. The stock was sold at an average price of $9.95, for a total value of $1,243,750.00. Following the transaction, the insider now directly owns 1,918,506 shares of the company's stock, valued at approximately $19,089,134.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Palantir Technologies news, Director Alexander D. Moore sold 11,377 shares of the stock in a transaction dated Thursday, June 9th. The shares were sold at an average price of $8.89, for a total transaction of $101,141.53. Following the sale, the director now owns 1,960,928 shares of the company's stock, valued at approximately $17,432,649.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Shyam Sankar sold 125,000 shares of the firm's stock in a transaction dated Friday, July 22nd. The shares were sold at an average price of $9.95, for a total transaction of $1,243,750.00. Following the completion of the sale, the insider now owns 1,918,506 shares of the company's stock, valued at approximately $19,089,134.70. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 427,935 shares of company stock valued at $4,209,427. Corporate insiders own 13.22% of the company's stock.
Institutional Trading of Palantir Technologies
Hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC bought a new position in Palantir Technologies in the 4th quarter worth approximately $827,000. Yousif Capital Management LLC bought a new stake in shares of Palantir Technologies during the fourth quarter worth $419,000. Pinnacle Associates Ltd. lifted its stake in shares of Palantir Technologies by 10.3% during the fourth quarter. Pinnacle Associates Ltd. now owns 51,575 shares of the company's stock valued at $939,000 after acquiring an additional 4,825 shares during the period. DekaBank Deutsche Girozentrale boosted its holdings in Palantir Technologies by 68.9% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 169,997 shares of the company's stock valued at $3,100,000 after acquiring an additional 69,345 shares during the last quarter. Finally, New York State Common Retirement Fund increased its position in Palantir Technologies by 2.6% in the fourth quarter. New York State Common Retirement Fund now owns 1,895,558 shares of the company's stock worth $34,518,000 after purchasing an additional 48,000 shares during the period. 40.02% of the stock is owned by institutional investors.
Palantir Technologies Company Profile
Palantir Technologies Inc builds and deploys software platforms for the intelligence community in the United States to assist in counterterrorism investigations and operations. 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.
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