Monness Crespi & Hardt Upgrades Palantir Technologies (NYSE:PLTR) to “Neutral”

Palantir Technologies (NYSE:PLTR) was upgraded by Monness Crespi & Hardt from a “sell” rating to a “neutral” rating in a research report issued on Friday, Briefing.com reports.

Several other brokerages also recently weighed in on PLTR. Citigroup upgraded Palantir Technologies from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $10.00 to $20.00 in a research report on Tuesday, February 6th. Royal Bank of Canada reiterated an “underperform” rating and issued a $5.00 target price on shares of Palantir Technologies in a research report on Tuesday, February 6th. HSBC downgraded Palantir Technologies from a “buy” rating to a “hold” rating and set a $22.00 price objective for the company. in a research report on Wednesday, February 14th. Jefferies Financial Group upgraded Palantir Technologies from an “underperform” rating to a “hold” rating and raised their price objective for the stock from $13.00 to $22.00 in a research report on Tuesday, February 6th. Finally, Raymond James raised their target price on Palantir Technologies from $22.00 to $25.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 6th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $18.35.

Palantir Technologies Stock Performance

PLTR opened at $22.08 on Friday. Palantir Technologies has a 52-week low of $7.28 and a 52-week high of $27.50. The firm has a market cap of $48.86 billion, a P/E ratio of 241.25, a price-to-earnings-growth ratio of 5.29 and a beta of 2.78. The business’s fifty day moving average is $23.49 and its 200-day moving average is $20.01.

Palantir Technologies (NYSE:PLTR) last announced its quarterly earnings data on Monday, February 5th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.01). Palantir Technologies had a return on equity of 6.17% and a net margin of 9.43%. The business had revenue of $608.35 million for the quarter, compared to the consensus estimate of $603.48 million. On average, research analysts predict that Palantir Technologies will post 0.16 earnings per share for the current fiscal year.

Insider Activity at Palantir Technologies

In related news, insider Ryan D. Taylor sold 120,000 shares of Palantir Technologies stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $22.00, for a total transaction of $2,640,000.00. Following the sale, the insider now directly owns 181,460 shares in the company, valued at $3,992,120. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Palantir Technologies news, Director Alexandra W. Schiff sold 5,000 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $24.91, for a total value of $124,550.00. Following the sale, the director now directly owns 191,783 shares in the company, valued at $4,777,314.53. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Ryan D. Taylor sold 120,000 shares of the business’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $22.00, for a total value of $2,640,000.00. Following the completion of the sale, the insider now owns 181,460 shares in the company, valued at $3,992,120. The disclosure for this sale can be found here. Insiders have sold a total of 7,456,273 shares of company stock valued at $184,343,202 over the last 90 days. Insiders own 13.96% of the company’s stock.

Institutional Trading of Palantir Technologies

Hedge funds have recently made changes to their positions in the company. Truvestments Capital LLC grew its position in shares of Palantir Technologies by 74.9% in the third quarter. Truvestments Capital LLC now owns 1,635 shares of the company’s stock valued at $26,000 after purchasing an additional 700 shares in the last quarter. First United Bank & Trust purchased a new position in Palantir Technologies during the fourth quarter worth about $26,000. Pacifica Partners Inc. purchased a new position in Palantir Technologies during the fourth quarter worth about $27,000. West Paces Advisors Inc. grew its position in Palantir Technologies by 110.7% during the first quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock worth $27,000 after buying an additional 620 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV grew its position in Palantir Technologies by 105.3% during the first quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock worth $31,000 after buying an additional 691 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Company Profile

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.