Palantir Technologies (NYSE:PLTR) Stock Rating Reaffirmed by Wedbush

Wedbush reaffirmed their outperform rating on shares of Palantir Technologies (NYSE:PLTR) in a research note issued to investors on Monday morning, Benzinga reports. The firm currently has a $35.00 target price on the stock.

Other equities analysts have also issued reports about the stock. Mizuho raised 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. Monness Crespi & Hardt raised Palantir Technologies from a sell rating to a neutral rating in a report on Friday, April 26th. Citigroup raised Palantir Technologies from a sell rating to a neutral rating and boosted their price target for the stock from $10.00 to $20.00 in a report on Tuesday, February 6th. Jefferies Financial Group raised Palantir Technologies from an underperform rating to a hold rating and raised their price objective for the company from $13.00 to $22.00 in a research note on Tuesday, February 6th. Finally, Royal Bank of Canada reaffirmed an underperform rating and set a $5.00 price target on shares of Palantir Technologies in a report on Tuesday, February 6th. Five equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Palantir Technologies has a consensus rating of Hold and an average target price of $20.65.

Palantir Technologies Trading Down 1.9 %

Shares of PLTR stock opened at $21.14 on Monday. The stock has a market cap of $46.78 billion, a P/E ratio of 237.47, a price-to-earnings-growth ratio of 5.72 and a beta of 2.76. Palantir Technologies has a 1 year low of $9.02 and a 1 year high of $27.50. The stock has a 50 day simple moving average of $23.28 and a 200 day simple moving average of $20.36.

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 the consensus estimate of $0.04 by ($0.01). Palantir Technologies had a return on equity of 6.17% and a net margin of 9.43%. The company had revenue of $608.35 million for the quarter, compared to analyst estimates of $603.48 million. Analysts forecast that Palantir Technologies will post 0.16 EPS for the current year.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Heather A. Planishek sold 8,521 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $23.27, for a total value of $198,283.67. Following the completion of the sale, the insider now directly owns 703,485 shares in the company, valued at $16,370,095.95. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Palantir Technologies news, Director Alexandra W. Schiff sold 5,000 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $24.91, for a total value of $124,550.00. Following the transaction, the director now owns 191,783 shares in the company, valued at $4,777,314.53. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Heather A. Planishek sold 8,521 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $23.27, for a total value of $198,283.67. Following the sale, the insider now owns 703,485 shares of the company’s stock, valued at approximately $16,370,095.95. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,201,273 shares of company stock valued at $178,418,102. Corporate insiders own 13.96% of the company’s stock.

Institutional Trading of Palantir Technologies

Several hedge funds have recently bought and sold shares of PLTR. Raymond James & Associates increased its position in shares of Palantir Technologies by 18.8% during the third quarter. Raymond James & Associates now owns 1,563,991 shares of the company’s stock worth $25,024,000 after acquiring an additional 247,595 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Palantir Technologies by 1.0% in the third quarter. Bank of New York Mellon Corp now owns 7,537,415 shares of the company’s stock valued at $120,599,000 after purchasing an additional 72,889 shares in the last quarter. Brown Advisory Inc. boosted its position in shares of Palantir Technologies by 9.9% during the third quarter. Brown Advisory Inc. now owns 14,425 shares of the company’s stock valued at $231,000 after buying an additional 1,300 shares during the last quarter. Mackenzie Financial Corp grew its holdings in Palantir Technologies by 26.0% during the third quarter. Mackenzie Financial Corp now owns 125,145 shares of the company’s stock worth $1,865,000 after buying an additional 25,852 shares in the last quarter. Finally, Brighton Jones LLC raised its position in Palantir Technologies by 12.2% in the 3rd quarter. Brighton Jones LLC now owns 30,191 shares of the company’s stock valued at $483,000 after buying an additional 3,294 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

About Palantir Technologies

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.