Palantir Technologies (NYSE:PLTR) Research Coverage Started at Bank of America

Bank of America began coverage on shares of Palantir Technologies (NYSE:PLTRGet Rating) in a report issued on Tuesday morning, Marketbeat Ratings reports. The brokerage issued a buy rating and a $13.00 target price on the stock.

Other analysts also recently issued research reports about the company. Morgan Stanley raised Palantir Technologies from an underweight rating to an equal weight rating and lowered their target price for the company from $24.00 to $16.00 in a research report on Monday, March 7th. Citigroup cut their price target on Palantir Technologies from $10.00 to $7.00 in a research note on Tuesday, May 10th. Deutsche Bank Aktiengesellschaft dropped their price target on Palantir Technologies from $15.00 to $11.00 in a research note on Tuesday, May 10th. Royal Bank of Canada cut Palantir Technologies from a sector perform rating to an underperform rating and dropped their price target for the company from $12.00 to $6.00 in a research note on Monday, May 9th. Finally, Monness Crespi & Hardt started coverage on Palantir Technologies in a report on Monday, April 11th. They issued a buy rating and a $20.00 price objective for the company. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Hold and an average target price of $14.27.

PLTR stock opened at $9.46 on Tuesday. The business has a fifty day moving average price of $9.27 and a 200 day moving average price of $12.63. Palantir Technologies has a fifty-two week low of $6.44 and a fifty-two week high of $29.29. The stock has a market capitalization of $19.20 billion, a price-to-earnings ratio of -37.84 and a beta of 5.05.

Palantir Technologies (NYSE:PLTRGet Rating) last released its earnings results on Monday, May 9th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.02). Palantir Technologies had a negative net margin of 30.25% and a positive return on equity of 12.04%. The firm had revenue of $446.36 million during the quarter, compared to analyst estimates of $443.51 million. During the same period last year, the business posted $0.04 earnings per share. The firm’s quarterly revenue was up 30.8% on a year-over-year basis. As a group, equities research analysts forecast that Palantir Technologies will post -0.07 earnings per share for the current year.

In related news, Director Alexander D. Moore sold 36,500 shares of the firm’s stock in a transaction dated Friday, April 1st. The shares were sold at an average price of $13.75, for a total value of $501,875.00. Following the transaction, the director now owns 1,939,626 shares of the company’s stock, valued at approximately $26,669,857.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Alexander D. Moore sold 11,377 shares of Palantir Technologies stock in a transaction that occurred on Thursday, June 9th. The stock was sold at an average price of $8.89, for a total transaction of $101,141.53. Following the transaction, the director now directly owns 1,960,928 shares in the company, valued at approximately $17,432,649.92. The disclosure for this sale can be found here. In the last ninety days, insiders sold 119,199 shares of company stock worth $1,178,652. 17.00% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of the business. Clear Creek Financial Management LLC lifted its position in shares of Palantir Technologies by 2.6% during the 4th quarter. Clear Creek Financial Management LLC now owns 27,081 shares of the company’s stock worth $493,000 after buying an additional 684 shares in the last quarter. Archford Capital Strategies LLC increased its stake in shares of Palantir Technologies by 3.5% during the 4th quarter. Archford Capital Strategies LLC now owns 21,689 shares of the company’s stock worth $395,000 after purchasing an additional 743 shares during the last quarter. Laidlaw Wealth Management LLC increased its stake in shares of Palantir Technologies by 0.9% during the 4th quarter. Laidlaw Wealth Management LLC now owns 81,979 shares of the company’s stock worth $1,493,000 after purchasing an additional 745 shares during the last quarter. Profund Advisors LLC increased its stake in shares of Palantir Technologies by 5.2% during the 4th quarter. Profund Advisors LLC now owns 15,665 shares of the company’s stock worth $285,000 after purchasing an additional 775 shares during the last quarter. Finally, Utah Retirement Systems increased its stake in shares of Palantir Technologies by 1.0% during the 3rd quarter. Utah Retirement Systems now owns 84,700 shares of the company’s stock worth $2,036,000 after purchasing an additional 800 shares during the last quarter. 40.02% of the stock is currently owned by hedge funds and other institutional investors.

About Palantir Technologies (Get Rating)

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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Analyst Recommendations for Palantir Technologies (NYSE:PLTR)

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