Analysts Set Palantir Technologies Inc. (NASDAQ:PLTR) PT at $172.28

Shares of Palantir Technologies Inc. (NASDAQ:PLTRGet Free Report) have earned an average rating of “Hold” from the twenty-three brokerages that are presently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and five have issued a buy rating on the company. The average 1-year price target among analysts that have covered the stock in the last year is $172.2750.

Several equities research analysts have recently weighed in on PLTR shares. Wall Street Zen downgraded shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Friday, November 28th. Citigroup upped their price target on shares of Palantir Technologies from $190.00 to $210.00 and gave the company a “neutral” rating in a report on Wednesday, November 5th. Robert W. Baird boosted their target price on Palantir Technologies from $170.00 to $200.00 and gave the company a “neutral” rating in a research report on Tuesday, November 4th. Mizuho upped their target price on Palantir Technologies from $165.00 to $205.00 and gave the company a “neutral” rating in a research note on Tuesday, November 4th. Finally, Piper Sandler increased their price target on Palantir Technologies from $201.00 to $225.00 and gave the stock an “overweight” rating in a report on Tuesday, November 4th.

Check Out Our Latest Analysis on Palantir Technologies

Key Palantir Technologies News

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

Palantir Technologies Price Performance

NASDAQ:PLTR opened at $193.38 on Monday. The firm has a market capitalization of $460.91 billion, a price-to-earnings ratio of 460.44, a PEG ratio of 7.20 and a beta of 1.49. The business has a 50 day simple moving average of $179.74 and a 200-day simple moving average of $165.42. Palantir Technologies has a 1 year low of $63.40 and a 1 year high of $207.52.

Palantir Technologies (NASDAQ:PLTRGet Free Report) last released its quarterly earnings results on Monday, November 3rd. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.04. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.09 billion. Palantir Technologies had a return on equity of 15.48% and a net margin of 28.11%.Palantir Technologies’s quarterly revenue was up 62.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.10 EPS. As a group, analysts expect that Palantir Technologies will post 0.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Ryan D. Taylor sold 36,048 shares of Palantir Technologies stock in a transaction on Monday, November 24th. The stock was sold at an average price of $162.36, for a total transaction of $5,852,753.28. Following the completion of the sale, the insider directly owned 251,409 shares in the company, valued at approximately $40,818,765.24. This trade represents a 12.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Shyam Sankar sold 149,872 shares of the business’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $163.99, for a total transaction of $24,577,509.28. Following the sale, the insider directly owned 642,786 shares of the company’s stock, valued at $105,410,476.14. This represents a 18.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,008,844 shares of company stock worth $164,750,951 over the last ninety days. Corporate insiders own 9.23% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

A number of institutional investors have recently modified their holdings of the stock. AIA Group Ltd boosted its holdings in shares of Palantir Technologies by 5.7% in the third quarter. AIA Group Ltd now owns 48,297 shares of the company’s stock valued at $8,810,000 after purchasing an additional 2,606 shares during the period. Strategic Investment Advisors MI lifted its holdings in shares of Palantir Technologies by 78.1% in the 3rd quarter. Strategic Investment Advisors MI now owns 3,499 shares of the company’s stock worth $638,000 after buying an additional 1,534 shares during the period. Keel Point LLC grew its position in shares of Palantir Technologies by 1.4% during the 3rd quarter. Keel Point LLC now owns 17,560 shares of the company’s stock worth $3,203,000 after buying an additional 250 shares in the last quarter. Mirabella Financial Services LLP increased its stake in shares of Palantir Technologies by 123.1% during the third quarter. Mirabella Financial Services LLP now owns 21,255 shares of the company’s stock valued at $3,870,000 after buying an additional 11,728 shares during the period. Finally, New Mexico Educational Retirement Board increased its stake in shares of Palantir Technologies by 7.2% during the third quarter. New Mexico Educational Retirement Board now owns 102,700 shares of the company’s stock valued at $18,735,000 after buying an additional 6,900 shares during the period. 45.65% of the stock is owned by hedge funds and other institutional investors.

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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