Palantir Technologies (NYSE:PLTR) Reaches New 12-Month High – Should You Buy?

Palantir Technologies Inc. (NYSE:PLTR) hit a new 52-week high on Monday . The company traded as high as $67.88 and last traded at $66.95, with a volume of 13099574 shares traded. The stock had previously closed at $67.08.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PLTR. Raymond James lowered shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. Jefferies Financial Group downgraded shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 target price for the company. in a report on Thursday, November 7th. Bank of America lifted their target price on shares of Palantir Technologies from $55.00 to $75.00 and gave the stock a “buy” rating in a report on Monday, November 25th. DA Davidson boosted their price objective on shares of Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Finally, Monness Crespi & Hardt cut their price target on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating for the company in a report on Tuesday, August 6th. Six analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $35.64.

Palantir Technologies Stock Down 0.4 %

The firm has a market capitalization of $152.19 billion, a P/E ratio of 332.85, a price-to-earnings-growth ratio of 9.07 and a beta of 2.70. The company’s 50 day moving average is $48.86 and its 200-day moving average is $35.05.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, beating 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 firm had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. During the same period last year, the firm earned $0.03 earnings per share. The business’s quarterly revenue was up 30.0% compared to the same quarter last year. On average, analysts predict that Palantir Technologies Inc. will post 0.21 EPS for the current fiscal year.

Insider Activity

In other news, Director Lauren Elaina Friedman Stat sold 6,050 shares of Palantir Technologies stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $33.19, for a total value of $200,799.50. Following the completion of the transaction, the director now owns 158,280 shares in the company, valued at $5,253,313.20. This trade represents a 3.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Alexander D. Moore sold 20,000 shares of Palantir Technologies stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $30.89, for a total transaction of $617,800.00. Following the completion of the transaction, the director now owns 1,510,630 shares of the company’s stock, valued at $46,663,360.70. The trade was a 1.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,163,181 shares of company stock worth $1,603,288,758 over the last quarter. Insiders own 12.93% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

A number of large investors have recently modified their holdings of the company. Northwest Investment Counselors LLC purchased a new position in Palantir Technologies in the 3rd quarter worth approximately $25,000. Prestige Wealth Management Group LLC boosted its stake in shares of Palantir Technologies by 747.1% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after purchasing an additional 650 shares in the last quarter. Summit Securities Group LLC purchased a new stake in shares of Palantir Technologies in the 2nd quarter valued at $25,000. Farmers & Merchants Investments Inc. purchased a new stake in shares of Palantir Technologies in the 2nd quarter valued at $25,000. Finally, Creekmur Asset Management LLC boosted its stake in shares of Palantir Technologies by 46.0% in the 3rd quarter. Creekmur Asset Management LLC now owns 1,063 shares of the company’s stock valued at $40,000 after purchasing an additional 335 shares in the last quarter. 45.65% of the stock is currently 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.