Palantir Technologies Inc. (NASDAQ:PLTR) Receives $136.61 Consensus Target Price from Brokerages

Shares of Palantir Technologies Inc. (NASDAQ:PLTR) have earned a consensus rating of “Hold” from the twenty-three research firms that are covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, seventeen have issued a hold rating and four have given a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $136.6111.

PLTR has been the topic of several research analyst reports. Citigroup reaffirmed a “neutral” rating and issued a $177.00 price target (up previously from $158.00) on shares of Palantir Technologies in a report on Tuesday, August 5th. The Goldman Sachs Group lifted their price objective on shares of Palantir Technologies from $90.00 to $141.00 and gave the stock a “neutral” rating in a report on Wednesday, August 6th. Wall Street Zen raised shares of Palantir Technologies from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. Mizuho raised shares of Palantir Technologies from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $116.00 to $135.00 in a report on Wednesday, July 16th. Finally, Wedbush set a $200.00 price objective on shares of Palantir Technologies and gave the stock an “outperform” rating in a report on Tuesday, August 5th.

Palantir Technologies Stock Performance

Palantir Technologies stock opened at $181.02 on Tuesday. The stock has a market cap of $427.19 billion, a P/E ratio of 603.42, a PEG ratio of 10.39 and a beta of 2.60. Palantir Technologies has a fifty-two week low of $29.31 and a fifty-two week high of $190.00. The firm’s fifty day moving average price is $150.04 and its 200-day moving average price is $118.54.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings results on Monday, August 4th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.02. The firm had revenue of $1 billion for the quarter, compared to analysts’ expectations of $939.29 million. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The business’s quarterly revenue was up 48.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.09 earnings per share. Sell-side analysts predict that Palantir Technologies will post 0.31 earnings per share for the current year.

Insider Activity at Palantir Technologies

In related news, insider Ryan D. Taylor sold 30,000 shares of the company’s stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $175.00, for a total transaction of $5,250,000.00. Following the completion of the sale, the insider directly owned 363,755 shares in the company, valued at $63,657,125. This represents a 7.62% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Eric H. Woersching sold 10,214 shares of the company’s stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $130.95, for a total transaction of $1,337,523.30. Following the sale, the director owned 2,348 shares of the company’s stock, valued at $307,470.60. This represents a 81.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,515,632 shares of company stock worth $196,472,623 over the last ninety days. Insiders own 9.23% of the company’s stock.

Institutional Trading of Palantir Technologies

Several large investors have recently added to or reduced their stakes in PLTR. Mechanics Financial Corp bought a new position in Palantir Technologies in the first quarter worth $25,000. Signature Resources Capital Management LLC bought a new position in Palantir Technologies in the second quarter worth $25,000. Wealth Preservation Advisors LLC bought a new position in Palantir Technologies in the first quarter worth $27,000. 1248 Management LLC bought a new position in Palantir Technologies in the first quarter worth $27,000. Finally, Briaud Financial Planning Inc bought a new position in Palantir Technologies in the second quarter worth $27,000. Institutional investors own 45.65% of the company’s stock.

Palantir Technologies Company Profile

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.