Palantir Technologies (NYSE:PLTR) Coverage Initiated by Analysts at Robert W. Baird

Robert W. Baird started coverage on shares of Palantir Technologies (NYSE:PLTR) in a research note issued to investors on Thursday morning, MarketBeat Ratings reports. The brokerage issued a neutral rating and a $70.00 price target on the stock.

Other equities analysts also recently issued reports about the stock. Bank of America increased their target price on shares of Palantir Technologies from $55.00 to $75.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Jefferies Financial Group downgraded shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 target price on the stock. in a research report on Thursday, November 7th. Northland Capmk raised shares of Palantir Technologies to a “hold” rating in a research report on Thursday, August 22nd. Raymond James downgraded shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. Finally, Mizuho increased their target price on shares of Palantir Technologies from $30.00 to $37.00 and gave the stock an “underperform” rating in a research report on Tuesday, November 5th. Six equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $38.40.

Palantir Technologies Trading Up 0.7 %

NYSE PLTR opened at $73.70 on Thursday. Palantir Technologies has a 1-year low of $15.66 and a 1-year high of $80.91. The company has a market capitalization of $167.89 billion, a PE ratio of 366.02, a price-to-earnings-growth ratio of 9.70 and a beta of 2.87. The firm’s fifty day simple moving average is $55.02 and its 200-day simple moving average is $38.01.

Palantir Technologies (NYSE:PLTR) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The business had revenue of $725.52 million for the quarter, compared to the consensus estimate of $705.11 million. During the same period in the prior year, the business posted $0.03 earnings per share. Palantir Technologies’s revenue for the quarter was up 30.0% compared to the same quarter last year. As a group, analysts predict that Palantir Technologies will post 0.21 EPS for the current year.

Insider Activity at Palantir Technologies

In related news, insider Heather A. Planishek sold 20,000 shares of the stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $39.95, for a total value of $799,000.00. Following the completion of the transaction, the insider now owns 562,006 shares of the company’s stock, valued at $22,452,139.70. This represents a 3.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 10,721 shares of the stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $76.78, for a total transaction of $823,158.38. Following the completion of the transaction, the director now directly owns 100,923 shares of the company’s stock, valued at $7,748,867.94. This trade represents a 9.60 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 39,252,313 shares of company stock worth $1,967,089,241. Company insiders own 12.93% of the company’s stock.

Institutional Trading of Palantir Technologies

Several hedge funds have recently modified their holdings of PLTR. Summit Securities Group LLC acquired a new stake in shares of Palantir Technologies during the second quarter worth approximately $25,000. Farmers & Merchants Investments Inc. acquired a new stake in shares of Palantir Technologies during the second quarter worth approximately $25,000. Northwest Investment Counselors LLC acquired a new stake in shares of Palantir Technologies during the third quarter worth approximately $25,000. Prestige Wealth Management Group LLC increased its holdings in shares of Palantir Technologies by 747.1% during the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after buying an additional 650 shares in the last quarter. Finally, University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Palantir Technologies during the second quarter worth approximately $30,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

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.