Palantir Technologies (NYSE:PLTR) Upgraded at Monness Crespi & Hardt

Palantir Technologies (NYSE:PLTR) was upgraded by equities researchers at Monness Crespi & Hardt from a “sell” rating to a “neutral” rating in a note issued to investors on Friday, MarketBeat Ratings reports.

Other equities research analysts also recently issued reports about the stock. Mizuho boosted their target price on shares of Palantir Technologies from $18.00 to $21.00 and gave the company a “neutral” rating in a report on Thursday, March 7th. Jefferies Financial Group upgraded shares of Palantir Technologies from an “underperform” rating to a “hold” rating and boosted their target price for the company from $13.00 to $22.00 in a report on Tuesday, February 6th. Raymond James boosted their target price on shares of Palantir Technologies from $22.00 to $25.00 and gave the company an “outperform” rating in a report on Tuesday, February 6th. Royal Bank of Canada restated an “underperform” rating and issued a $5.00 target price on shares of Palantir Technologies in a report on Tuesday, February 6th. Finally, Bank of America boosted their target price on shares of Palantir Technologies from $24.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Palantir Technologies currently has a consensus rating of “Hold” and a consensus target price of $18.35.

Palantir Technologies Price Performance

NYSE:PLTR opened at $22.52 on Friday. The firm has a 50 day simple moving average of $23.45 and a 200-day simple moving average of $20.06. The firm has a market cap of $49.83 billion, a PE ratio of 250.25, a P/E/G ratio of 5.52 and a beta of 2.78. Palantir Technologies has a 1-year low of $7.28 and a 1-year high of $27.50.

Palantir Technologies (NYSE:PLTR) last released its earnings results on Monday, February 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Palantir Technologies had a net margin of 9.43% and a return on equity of 6.17%. The company had revenue of $608.35 million during the quarter, compared to analysts’ expectations of $603.48 million. As a group, sell-side analysts expect that Palantir Technologies will post 0.16 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Palantir Technologies news, Director Peter Thiel sold 7,044,756 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $24.79, for a total transaction of $174,639,501.24. Following the completion of the sale, the director now directly owns 70,806,432 shares in the company, valued at $1,755,291,449.28. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Ryan D. Taylor sold 120,000 shares of the business’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $22.00, for a total transaction of $2,640,000.00. Following the transaction, the insider now directly owns 181,460 shares of the company’s stock, valued at $3,992,120. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Peter Thiel sold 7,044,756 shares of the business’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $24.79, for a total transaction of $174,639,501.24. Following the transaction, the director now directly owns 70,806,432 shares in the company, valued at $1,755,291,449.28. The disclosure for this sale can be found here. Insiders sold a total of 7,456,273 shares of company stock worth $184,343,202 over the last ninety days. 13.96% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. West Paces Advisors Inc. lifted its position in shares of Palantir Technologies by 110.7% during the first quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock worth $27,000 after purchasing an additional 620 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its holdings in Palantir Technologies by 105.3% in the first quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock valued at $31,000 after acquiring an additional 691 shares in the last quarter. Bogart Wealth LLC raised its holdings in Palantir Technologies by 332.8% in the first quarter. Bogart Wealth LLC now owns 1,385 shares of the company’s stock valued at $32,000 after acquiring an additional 1,065 shares in the last quarter. Halpern Financial Inc. raised its holdings in Palantir Technologies by 44.0% in the first quarter. Halpern Financial Inc. now owns 1,440 shares of the company’s stock valued at $33,000 after acquiring an additional 440 shares in the last quarter. Finally, Pacifica Partners Inc. acquired a new stake in Palantir Technologies in the fourth quarter valued at $27,000. 45.65% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Company Profile

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.