Palantir Technologies (NASDAQ:PLTR) Earns “Outperform” Rating from Wedbush

Palantir Technologies (NASDAQ:PLTR)‘s stock had its “outperform” rating reaffirmed by stock analysts at Wedbush in a research note issued to investors on Monday,Benzinga reports. They presently have a $230.00 price objective on the stock. Wedbush’s price target points to a potential upside of 52.37% from the stock’s previous close.

Other equities research analysts have also issued reports about the company. Phillip Securities initiated coverage on Palantir Technologies in a research report on Thursday, January 22nd. They set a “buy” rating and a $208.00 price objective for the company. Piper Sandler reissued an “overweight” rating and issued a $230.00 price target on shares of Palantir Technologies in a research report on Tuesday, February 3rd. Northland Securities upgraded shares of Palantir Technologies from a “market perform” rating to an “outperform” rating and set a $190.00 price target for the company in a report on Tuesday, February 3rd. Rosenblatt Securities initiated coverage on shares of Palantir Technologies in a research note on Friday, February 27th. They issued a “buy” rating and a $150.00 price objective on the stock. Finally, Zacks Research lowered shares of Palantir Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 30th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $194.05.

Palantir Technologies Stock Down 1.7%

Shares of NASDAQ:PLTR opened at $150.95 on Monday. The company’s fifty day moving average is $152.99 and its two-hundred day moving average is $168.89. The company has a market cap of $361.02 billion, a P/E ratio of 239.61, a price-to-earnings-growth ratio of 2.99 and a beta of 1.70. Palantir Technologies has a 12-month low of $66.12 and a 12-month high of $207.52.

Palantir Technologies (NASDAQ:PLTR) last issued its earnings results on Monday, February 2nd. The company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.23 by $0.02. The business had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.34 billion. Palantir Technologies had a return on equity of 23.81% and a net margin of 36.31%.Palantir Technologies’s revenue was up 70.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.14 earnings per share. Equities research analysts anticipate that Palantir Technologies will post 0.31 earnings per share for the current year.

Insider Buying and Selling at Palantir Technologies

In related news, insider David A. Glazer sold 17,438 shares of the business’s stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $133.72, for a total value of $2,331,809.36. Following the completion of the sale, the insider owned 392,370 shares of the company’s stock, valued at approximately $52,467,716.40. The trade was a 4.26% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Alexander C. Karp sold 493,025 shares of the stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $133.78, for a total value of $65,956,884.50. Following the completion of the transaction, the insider owned 6,432,258 shares in the company, valued at $860,507,475.24. This represents a 7.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,045,279 shares of company stock worth $140,539,043 over the last quarter. Insiders own 12.93% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Revolve Wealth Partners LLC bought a new position in Palantir Technologies during the fourth quarter valued at about $450,000. Bison Wealth LLC increased its holdings in shares of Palantir Technologies by 37.4% during the 4th quarter. Bison Wealth LLC now owns 17,130 shares of the company’s stock valued at $1,296,000 after acquiring an additional 4,667 shares during the last quarter. Capstone Wealth Management Group LLC increased its holdings in shares of Palantir Technologies by 38.0% during the 1st quarter. Capstone Wealth Management Group LLC now owns 17,147 shares of the company’s stock valued at $1,447,000 after acquiring an additional 4,722 shares during the last quarter. Schnieders Capital Management LLC. raised its stake in shares of Palantir Technologies by 36.8% in the 2nd quarter. Schnieders Capital Management LLC. now owns 6,294 shares of the company’s stock valued at $858,000 after acquiring an additional 1,694 shares in the last quarter. Finally, Citizens Financial Group Inc. RI lifted its holdings in Palantir Technologies by 81.0% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 19,518 shares of the company’s stock worth $2,661,000 after purchasing an additional 8,732 shares during the last quarter. Institutional investors own 45.65% of the company’s stock.

Palantir Technologies Company Profile

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.