Palantir Technologies (NYSE:PLTR) Coverage Initiated at Argus

Analysts at Argus began coverage on shares of Palantir Technologies (NYSE:PLTRGet Free Report) in a research report issued to clients and investors on Monday, Marketbeat.com reports. The firm set a “buy” rating and a $29.00 price target on the stock. Argus’ price target indicates a potential upside of 12.32% from the company’s current price.

Several other equities analysts have also recently weighed in on the company. Bank of America raised their price objective on Palantir Technologies from $24.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Monness Crespi & Hardt upgraded shares of Palantir Technologies from a “sell” rating to a “neutral” rating in a research report on Friday, April 26th. William Blair reaffirmed an “underperform” rating on shares of Palantir Technologies in a research note on Tuesday, May 7th. HSBC boosted their price objective on shares of Palantir Technologies from $22.00 to $23.00 and gave the stock a “hold” rating in a research note on Tuesday, May 7th. Finally, Mizuho upped their price objective 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. Five research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $21.25.

Get Our Latest Stock Analysis on PLTR

Palantir Technologies Stock Up 3.2 %

PLTR stock opened at $25.82 on Monday. The company has a market cap of $57.50 billion, a P/E ratio of 215.18, a price-to-earnings-growth ratio of 5.44 and a beta of 2.70. Palantir Technologies has a twelve month low of $13.56 and a twelve month high of $27.50. The business’s fifty day moving average is $22.15 and its 200-day moving average is $21.14.

Palantir Technologies (NYSE:PLTRGet Free Report) last issued its quarterly earnings data on Monday, May 6th. The company reported $0.04 EPS for the quarter, hitting the consensus estimate of $0.04. The business had revenue of $634.34 million for the quarter, compared to the consensus estimate of $614.88 million. Palantir Technologies had a return on equity of 8.28% and a net margin of 12.79%. Research analysts anticipate that Palantir Technologies will post 0.16 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Heather A. Planishek sold 10,907 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $21.43, for a total transaction of $233,737.01. Following the completion of the transaction, the insider now directly owns 651,099 shares of the company’s stock, valued at $13,953,051.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Heather A. Planishek sold 2,398 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $21.30, for a total transaction of $51,077.40. Following the completion of the sale, the insider now directly owns 639,696 shares in the company, valued at $13,625,524.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Heather A. Planishek sold 10,907 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $21.43, for a total transaction of $233,737.01. Following the sale, the insider now owns 651,099 shares of the company’s stock, valued at $13,953,051.57. The disclosure for this sale can be found here. Insiders sold 11,374,153 shares of company stock valued at $239,976,945 over the last three months. Insiders own 12.93% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

Hedge funds have recently modified their holdings of the company. Pursue Wealth Partners LLC bought a new position in shares of Palantir Technologies in the fourth quarter worth approximately $1,741,000. Vanguard Group Inc. boosted its position in shares of Palantir Technologies by 3.5% during the fourth quarter. Vanguard Group Inc. now owns 193,805,263 shares of the company’s stock worth $3,327,636,000 after acquiring an additional 6,466,596 shares during the last quarter. Trexquant Investment LP bought a new position in shares of Palantir Technologies during the third quarter worth $4,446,000. Raymond James Financial Services Advisors Inc. boosted its position in shares of Palantir Technologies by 10.8% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 1,196,790 shares of the company’s stock worth $20,549,000 after acquiring an additional 116,220 shares during the last quarter. Finally, Korea Investment CORP boosted its position in shares of Palantir Technologies by 148.4% during the third quarter. Korea Investment CORP now owns 193,957 shares of the company’s stock worth $3,103,000 after acquiring an additional 115,876 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Company Profile

(Get Free Report)

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.

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