Palantir Technologies (NYSE:PLTR) Raised to “Buy” at Zacks Investment Research


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Palantir Technologies (NYSE:PLTR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday, Zacks.com reports. The firm presently has a $27.00 price target on the stock. Zacks Investment Research‘s price objective would indicate a potential upside of 16.63% from the stock’s current price.

According to Zacks, “Palantir Technologies Inc. builds and deploys software platforms for the intelligence community principally in the United States. Palantir Technologies Inc. is based in Denver, Colorado. “

A number of other research analysts have also commented on the stock. The Goldman Sachs Group upgraded shares of Palantir Technologies from a “neutral” rating to a “buy” rating and upped their price target for the company from $13.00 to $34.00 in a research note on Wednesday, February 17th. William Blair lowered shares of Palantir Technologies from a “market perform” rating to an “underperform” rating in a research note on Tuesday, February 16th. Jefferies Financial Group boosted their price objective on shares of Palantir Technologies from $30.00 to $40.00 and gave the company a “buy” rating in a report on Friday, February 12th. Citigroup downgraded shares of Palantir Technologies from a “neutral” rating to a “sell” rating and boosted their price objective for the company from $10.00 to $15.00 in a report on Wednesday, January 13th. Finally, Royal Bank of Canada boosted their price objective on shares of Palantir Technologies from $15.00 to $27.00 and gave the company a “sector perform” rating in a report on Wednesday, February 17th. They noted that the move was a valuation call. Four analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $24.00.

Palantir Technologies stock opened at $23.15 on Wednesday. The company’s 50-day moving average is $24.03 and its 200-day moving average is $22.71. Palantir Technologies has a fifty-two week low of $8.90 and a fifty-two week high of $45.00.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings data on Tuesday, February 16th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.05. The firm had revenue of $322.09 million for the quarter, compared to analyst estimates of $300.40 million. Research analysts expect that Palantir Technologies will post -1.35 EPS for the current fiscal year.

In other Palantir Technologies news, insider Alexander C. Karp sold 237,779 shares of the company’s stock in a transaction that occurred on Tuesday, March 30th. The shares were sold at an average price of $21.68, for a total value of $5,155,048.72. Following the completion of the transaction, the insider now directly owns 402,603 shares in the company, valued at approximately $8,728,433.04. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Alexander D. Moore sold 12,000 shares of the company’s stock in a transaction that occurred on Monday, March 1st. The shares were sold at an average price of $24.97, for a total transaction of $299,640.00. Following the completion of the transaction, the director now owns 2,259,249 shares of the company’s stock, valued at $56,413,447.53. The disclosure for this sale can be found here. In the last three months, insiders sold 4,228,706 shares of company stock valued at $111,494,796.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Kathmere Capital Management LLC increased its position in shares of Palantir Technologies by 133.3% during the fourth quarter. Kathmere Capital Management LLC now owns 1,050 shares of the company’s stock worth $25,000 after buying an additional 600 shares during the period. Vanguard Capital Wealth Advisors increased its position in shares of Palantir Technologies by 5.5% during the first quarter. Vanguard Capital Wealth Advisors now owns 11,600 shares of the company’s stock worth $266,000 after buying an additional 600 shares during the period. PARK CIRCLE Co increased its position in shares of Palantir Technologies by 140.0% during the fourth quarter. PARK CIRCLE Co now owns 1,200 shares of the company’s stock worth $28,000 after buying an additional 700 shares during the period. Winfield Associates Inc. increased its position in shares of Palantir Technologies by 1.7% during the first quarter. Winfield Associates Inc. now owns 42,575 shares of the company’s stock worth $992,000 after buying an additional 700 shares during the period. Finally, Benjamin F. Edwards & Company Inc. increased its position in shares of Palantir Technologies by 442.5% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,085 shares of the company’s stock worth $26,000 after buying an additional 885 shares during the period. Hedge funds and other institutional investors 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.

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