Palantir Technologies (NYSE:PLTR) Receives New Coverage from Analysts at Argus

Investment analysts at Argus began coverage on shares of Palantir Technologies (NYSE:PLTR - Get Free Report) in a report issued on Monday, Marketbeat reports. The firm set a "buy" rating and a $29.00 price target on the stock. Argus' target price suggests a potential upside of 15.91% from the company's previous close.

PLTR has been the topic of a number of other reports. Citigroup upped their price objective on Palantir Technologies from $23.00 to $25.00 and gave the company a "neutral" rating in a report on Tuesday, May 7th. Wedbush reiterated an "outperform" rating and issued a $35.00 price objective on shares of Palantir Technologies in a report on Monday, May 6th. DA Davidson boosted their target price on Palantir Technologies from $19.00 to $24.00 and gave the company a "neutral" rating in a research report on Tuesday, May 7th. Monness Crespi & Hardt raised Palantir Technologies from a "sell" rating to a "neutral" rating in a research report on Friday, April 26th. Finally, Royal Bank of Canada boosted their target price on Palantir Technologies from $5.00 to $9.00 and gave the company an "underperform" rating in a research report on Tuesday, May 7th. Five investment analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $21.25.

Palantir Technologies Stock Up 6.2 %

Shares of Palantir Technologies stock traded up $1.45 on Monday, hitting $25.02. 53,898,494 shares of the company were exchanged, compared to its average volume of 57,611,500. The stock has a market capitalization of $55.72 billion, a price-to-earnings ratio of 208.52, a price-to-earnings-growth ratio of 5.44 and a beta of 2.70. The company has a 50-day moving average price of $22.09 and a 200 day moving average price of $21.10. Palantir Technologies has a 1-year low of $13.56 and a 1-year high of $27.50.

Palantir Technologies (NYSE:PLTR - Get Free Report) last issued its earnings results on Monday, May 6th. The company reported $0.04 earnings per share for the quarter, hitting the consensus estimate of $0.04. The business had revenue of $634.34 million for the quarter, compared to analysts' expectations of $614.88 million. Palantir Technologies had a return on equity of 8.28% and a net margin of 12.79%. Research analysts forecast that Palantir Technologies will post 0.16 EPS for the current year.

Insider Transactions at Palantir Technologies

In other news, Director Alexandra W. Schiff sold 5,000 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $22.74, for a total transaction of $113,700.00. Following the completion of the sale, the director now owns 186,783 shares in the company, valued at $4,247,445.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Heather A. Planishek sold 2,398 shares of the firm's stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $21.30, for a total value of $51,077.40. Following the completion of the sale, the insider now owns 639,696 shares in the company, valued at $13,625,524.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Alexandra W. Schiff sold 5,000 shares of the firm's stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $22.74, for a total transaction of $113,700.00. Following the completion of the sale, the director now owns 186,783 shares of the company's stock, valued at approximately $4,247,445.42. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,374,153 shares of company stock worth $239,976,945. Company insiders own 12.93% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Halpern Financial Inc. increased its stake in shares of Palantir Technologies by 44.0% during the 1st quarter. Halpern Financial Inc. now owns 1,440 shares of the company's stock worth $33,000 after purchasing an additional 440 shares in the last quarter. Harbor Investment Advisory LLC increased its stake in shares of Palantir Technologies by 16.9% during the 1st quarter. Harbor Investment Advisory LLC now owns 3,208 shares of the company's stock worth $74,000 after purchasing an additional 463 shares in the last quarter. Principle Wealth Partners LLC increased its stake in shares of Palantir Technologies by 4.8% during the 1st quarter. Principle Wealth Partners LLC now owns 10,481 shares of the company's stock worth $241,000 after purchasing an additional 481 shares in the last quarter. GSB Wealth Management LLC increased its stake in shares of Palantir Technologies by 4.6% during the 1st quarter. GSB Wealth Management LLC now owns 13,475 shares of the company's stock worth $310,000 after purchasing an additional 595 shares in the last quarter. Finally, Fiduciary Alliance LLC increased its stake in shares of Palantir Technologies by 1.0% during the 4th quarter. Fiduciary Alliance LLC now owns 60,776 shares of the company's stock worth $1,044,000 after purchasing an additional 618 shares in the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

About Palantir Technologies

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.