Palantir Technologies (NYSE:PLTR) Receives “Outperform” Rating from Wedbush

Wedbush reaffirmed their outperform rating on shares of Palantir Technologies (NYSE:PLTR) in a report published on Monday, Benzinga reports. They currently have a $35.00 price objective on the stock.

PLTR has been the topic of a number of other reports. Raymond James boosted their target price on shares of Palantir Technologies from $22.00 to $25.00 and gave the company an outperform rating in a research note on Tuesday, February 6th. Mizuho boosted their target price on shares of Palantir Technologies from $18.00 to $21.00 and gave the company a neutral rating in a research note on Thursday, March 7th. Royal Bank of Canada reiterated an underperform rating and issued a $5.00 target price on shares of Palantir Technologies in a research note on Tuesday, February 6th. Jefferies Financial Group raised shares of Palantir Technologies from an underperform rating to a hold rating and boosted their price target for the company from $13.00 to $22.00 in a research report on Tuesday, February 6th. Finally, Bank of America boosted their price target on shares of Palantir Technologies from $24.00 to $28.00 and gave the company a buy rating in a research report on Wednesday, March 6th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Palantir Technologies presently has an average rating of Hold and an average price target of $19.19.

Palantir Technologies Stock Performance

Palantir Technologies stock opened at $22.65 on Monday. The stock has a market cap of $50.12 billion, a PE ratio of 251.69, a price-to-earnings-growth ratio of 5.72 and a beta of 2.76. Palantir Technologies has a fifty-two week low of $7.59 and a fifty-two week high of $27.50. The firm’s 50-day simple moving average is $23.36 and its 200 day simple moving average is $20.25.

Palantir Technologies (NYSE:PLTR) last released its earnings results on Monday, February 5th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The company had revenue of $608.35 million during the quarter, compared to analysts’ expectations of $603.48 million. Palantir Technologies had a net margin of 9.43% and a return on equity of 6.17%. As a group, analysts predict that Palantir Technologies will post 0.16 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Alexander D. Moore sold 20,000 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $22.02, for a total value of $440,400.00. Following the transaction, the director now owns 1,595,519 shares of the company’s stock, valued at approximately $35,133,328.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Palantir Technologies news, insider Shyam Sankar sold 29,168 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $25.00, for a total value of $729,200.00. Following the completion of the transaction, the insider now directly owns 752,786 shares in the company, valued at approximately $18,819,650. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Alexander D. Moore sold 20,000 shares of Palantir Technologies stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $22.02, for a total transaction of $440,400.00. Following the transaction, the director now directly owns 1,595,519 shares of the company’s stock, valued at $35,133,328.38. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,356,273 shares of company stock valued at $182,143,602. Company insiders own 13.96% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Truvestments Capital LLC lifted its position in Palantir Technologies by 74.9% during the 3rd quarter. Truvestments Capital LLC now owns 1,635 shares of the company’s stock valued at $26,000 after acquiring an additional 700 shares during the period. First United Bank & Trust purchased a new position in Palantir Technologies during the 4th quarter valued at about $26,000. Pacifica Partners Inc. purchased a new position in Palantir Technologies during the 4th quarter valued at about $27,000. West Paces Advisors Inc. lifted its position in Palantir Technologies by 110.7% during the 1st quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock valued at $27,000 after acquiring an additional 620 shares during the period. Finally, Massmutual Trust Co. FSB ADV lifted its position in Palantir Technologies by 105.3% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock valued at $31,000 after acquiring an additional 691 shares during the period. 45.65% of the stock is owned by hedge funds and other 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.