Palantir Technologies (NYSE:PLTR) Rating Reiterated by Wedbush

Palantir Technologies (NYSE:PLTR)‘s stock had its “outperform” rating reaffirmed by investment analysts at Wedbush in a research report issued on Monday, Benzinga reports. They presently have a $35.00 price objective on the stock. Wedbush’s target price points to a potential upside of 50.02% from the stock’s previous close.

A number of other research firms have also commented on PLTR. Citigroup upgraded Palantir Technologies from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $10.00 to $20.00 in a research note on Tuesday, February 6th. Mizuho raised their target price on Palantir Technologies from $18.00 to $21.00 and gave the company a “neutral” rating in a report on Thursday, March 7th. Raymond James raised their target price on Palantir Technologies from $22.00 to $25.00 and gave the company an “outperform” rating in a report on Tuesday, February 6th. Monness Crespi & Hardt raised Palantir Technologies from a “sell” rating to a “neutral” rating in a report on Friday, April 26th. Finally, Royal Bank of Canada reaffirmed an “underperform” rating and issued a $5.00 target price on shares of Palantir Technologies in a report on Tuesday, February 6th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $18.35.

Palantir Technologies Price Performance

Palantir Technologies stock opened at $23.33 on Monday. The stock’s fifty day moving average price is $23.36 and its two-hundred day moving average price is $20.25. Palantir Technologies has a one year low of $7.28 and a one year high of $27.50. The firm has a market cap of $51.62 billion, a PE ratio of 259.25, a price-to-earnings-growth ratio of 5.72 and a beta of 2.76.

Palantir Technologies (NYSE:PLTR) last posted its quarterly earnings data on Monday, February 5th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $603.48 million. Sell-side analysts expect that Palantir Technologies will post 0.16 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Palantir Technologies news, insider Ryan D. Taylor sold 120,000 shares of Palantir Technologies stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $22.00, for a total transaction of $2,640,000.00. Following the transaction, the insider now directly owns 181,460 shares of the company’s stock, valued at approximately $3,992,120. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Palantir Technologies news, insider Ryan D. Taylor sold 120,000 shares of Palantir Technologies stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $22.00, for a total transaction of $2,640,000.00. Following the transaction, the insider now directly owns 181,460 shares of the company’s stock, valued at approximately $3,992,120. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Alexander D. Moore sold 20,000 shares of Palantir Technologies stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $22.02, for a total value of $440,400.00. Following the transaction, the director now directly owns 1,595,519 shares in the company, valued at $35,133,328.38. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,476,273 shares of company stock valued at $184,783,602. 13.96% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Truvestments Capital LLC raised its position in shares of Palantir Technologies by 74.9% in the 3rd quarter. Truvestments Capital LLC now owns 1,635 shares of the company’s stock worth $26,000 after acquiring an additional 700 shares in the last quarter. First United Bank & Trust bought a new stake in Palantir Technologies in the 4th quarter valued at about $26,000. Pacifica Partners Inc. bought a new stake in Palantir Technologies in the 4th quarter valued at about $27,000. West Paces Advisors Inc. increased its position in Palantir Technologies by 110.7% in the 1st quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock valued at $27,000 after buying an additional 620 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its position in Palantir Technologies by 105.3% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock valued at $31,000 after buying an additional 691 shares in the last quarter. 45.65% of the stock is owned by institutional investors.

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.