Palantir Technologies (NASDAQ:PLTR) Upgraded to “Strong-Buy” at Daiwa America

Palantir Technologies (NASDAQ:PLTRGet Free Report) was upgraded by stock analysts at Daiwa America from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Tuesday,Zacks.com reports.

Other analysts also recently issued research reports about the company. Cantor Fitzgerald reiterated a “neutral” rating on shares of Palantir Technologies in a research note on Tuesday, February 3rd. Citigroup increased their price objective on shares of Palantir Technologies from $235.00 to $260.00 and gave the company a “buy” rating in a report on Tuesday, February 3rd. The Goldman Sachs Group dropped their price target on Palantir Technologies from $188.00 to $182.00 in a research report on Tuesday, February 3rd. HSBC raised shares of Palantir Technologies from a “hold” rating to a “buy” rating and set a $205.00 price target on the stock in a research note on Tuesday, February 3rd. Finally, Jefferies Financial Group set a $208.00 price target on Palantir Technologies in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Palantir Technologies presently has an average rating of “Hold” and an average price target of $191.05.

Get Our Latest Stock Analysis on PLTR

Palantir Technologies Stock Down 2.4%

NASDAQ PLTR opened at $139.45 on Tuesday. The stock’s 50 day moving average is $172.72 and its 200 day moving average is $173.16. The firm has a market capitalization of $332.37 billion, a PE ratio of 221.35, a P/E/G ratio of 2.74 and a beta of 1.64. Palantir Technologies has a twelve month low of $66.12 and a twelve month high of $207.52.

Palantir Technologies (NASDAQ:PLTRGet Free Report) last announced its earnings results on Monday, February 2nd. The company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.02. Palantir Technologies had a net margin of 36.31% and a return on equity of 23.81%. The business had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same period in the previous year, the business earned $0.14 EPS. The company’s quarterly revenue was up 70.0% compared to the same quarter last year. On average, research analysts anticipate that Palantir Technologies will post 0.31 earnings per share for the current year.

Insider Activity at Palantir Technologies

In other news, insider David A. Glazer sold 15,557 shares of the firm’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $163.99, for a total value of $2,551,192.43. Following the completion of the sale, the insider directly owned 415,612 shares of the company’s stock, valued at approximately $68,156,211.88. This trade represents a 3.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Shyam Sankar sold 149,872 shares of the business’s stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $163.99, for a total value of $24,577,509.28. Following the completion of the transaction, the insider directly owned 642,786 shares in the company, valued at approximately $105,410,476.14. This represents a 18.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 1,023,844 shares of company stock worth $167,455,085. 12.93% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Palantir Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PLTR. Viewpoint Capital Management LLC lifted its stake in shares of Palantir Technologies by 8.1% in the 4th quarter. Viewpoint Capital Management LLC now owns 2,264 shares of the company’s stock worth $402,000 after acquiring an additional 170 shares during the period. Arsenal Capital Advisors LLC bought a new stake in shares of Palantir Technologies during the 4th quarter valued at approximately $3,629,000. Flagship Wealth Advisors LLC lifted its holdings in Palantir Technologies by 228.6% during the 4th quarter. Flagship Wealth Advisors LLC now owns 575 shares of the company’s stock worth $102,000 after buying an additional 400 shares during the period. Total Wealth Planning & Management Inc. bought a new position in shares of Palantir Technologies during the 4th quarter worth approximately $329,000. Finally, SlateStone Wealth LLC boosted its holdings in Palantir Technologies by 0.4% during the fourth quarter. SlateStone Wealth LLC now owns 64,963 shares of the company’s stock worth $11,547,000 after purchasing an additional 263 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies News Roundup

Here are the key news stories impacting Palantir Technologies this week:

Palantir Technologies Company Profile

(Get Free Report)

Palantir Technologies is a software company that develops data integration, analytics and operational decision-making platforms for government and commercial customers. Founded in 2003 by a team that included Alex Karp and Peter Thiel, Palantir has grown into a provider of enterprise-scale software designed to help organizations integrate disparate data sources, build analytic models and drive operational workflows. The company went public in 2020 and continues to position its products around large, complex data projects where security, provenance and real-time collaboration are important.

Palantir’s product portfolio centers on a small number of core platforms.

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