Palantir Technologies (NYSE:PLTR) had its price objective hoisted by investment analysts at Citigroup from $15.00 to $170.00 in a research note issued on Wednesday, The Fly reports.
Several other equities research analysts have also recently weighed in on the company. William Blair cut Palantir Technologies from a “market perform” rating to an “underperform” rating in a research note on Tuesday, February 16th. The Goldman Sachs Group raised Palantir Technologies from a “neutral” rating to a “buy” rating and increased their price target for the company from $13.00 to $34.00 in a research note on Wednesday, February 17th. Credit Suisse Group assumed coverage on Palantir Technologies in a research note on Tuesday, March 16th. They issued an “underperform” rating and a $20.00 price target for the company. Jefferies Financial Group decreased their price target on Palantir Technologies from $40.00 to $28.00 and set a “buy” rating for the company in a research note on Wednesday. They noted that the move was a valuation call. Finally, Royal Bank of Canada cut their target price on Palantir Technologies from $27.00 to $20.00 and set a “sector perform” rating on the stock in a research report on Wednesday. Four investment analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. Palantir Technologies currently has an average rating of “Hold” and a consensus price target of $38.67.
Shares of Palantir Technologies stock traded down $1.32 during trading on Wednesday, reaching $18.89. 5,693,060 shares of the company’s stock were exchanged, compared to its average volume of 76,731,297. Palantir Technologies has a 1-year low of $8.90 and a 1-year high of $45.00. The firm’s 50-day moving average price is $22.68 and its 200 day moving average price is $24.21.
Palantir Technologies (NYSE:PLTR) last posted its quarterly earnings results on Tuesday, May 11th. The company reported $0.04 EPS for the quarter, hitting analysts’ consensus estimates of $0.04. The business had revenue of $341.20 million for the quarter, compared to analyst estimates of $332.22 million. Palantir Technologies’s quarterly revenue was up 48.8% on a year-over-year basis. On average, research analysts forecast that Palantir Technologies will post -1.35 earnings per share for the current year.
In other Palantir Technologies news, insider Ryan D. Taylor sold 218,255 shares of the stock in a transaction that occurred on Thursday, February 18th. The stock was sold at an average price of $25.17, for a total value of $5,493,478.35. Following the transaction, the insider now owns 1,799,189 shares in the company, valued at $45,285,587.13. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Stephen Andrew Cohen sold 300,000 shares of the stock in a transaction that occurred on Monday, February 22nd. The stock was sold at an average price of $30.03, for a total value of $9,009,000.00. Following the completion of the transaction, the insider now owns 2,203,647 shares in the company, valued at approximately $66,175,519.41. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,509,099 shares of company stock worth $125,875,655.
Large investors have recently made changes to their positions in the business. Disruptive Technology Advisers LLC bought a new position in shares of Palantir Technologies in the fourth quarter valued at approximately $965,814,000. BlackRock Inc. increased its position in shares of Palantir Technologies by 13.8% during the fourth quarter. BlackRock Inc. now owns 33,350,543 shares of the company’s stock valued at $785,406,000 after acquiring an additional 4,051,396 shares during the last quarter. P STS SPV GP IA LLC purchased a new stake in shares of Palantir Technologies during the fourth quarter valued at approximately $432,809,000. Blue Ridge Capital L.L.C. purchased a new stake in shares of Palantir Technologies during the fourth quarter valued at approximately $215,139,000. Finally, Morgan Stanley increased its position in shares of Palantir Technologies by 91.0% during the fourth quarter. Morgan Stanley now owns 5,780,677 shares of the company’s stock valued at $136,135,000 after acquiring an additional 2,753,985 shares during the last quarter. Institutional investors and hedge funds own 10.13% of the company’s stock.
About Palantir Technologies
Palantir Technologies Inc builds and deploys software platforms for the intelligence community in the United States to assist in counterterrorism investigations and operations. The company provides Palantir Gotham, a software platform for government operatives in the defense and intelligence sectors, 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.