Palantir Technologies (NYSE:PLTR) had its rating reaffirmed by Wedbush

Palantir Technologies (NYSE:PLTR – Get a Free Report)Its “outperform” rating on the stock was reaffirmed by equities research analysts at Wedbush in a research report issued to clients and investors on Monday, Benzinga reports. They currently have a $38.00 price objective on the stock. Wedbush’s price target would suggest a potential upside of 9.35% from the stock’s current price.

PLTR has been the subject of several other research reports. Northland Securities began coverage on shares of Palantir Technologies in a research report on Thursday, August 22nd. They issued a “market perform” rating and a $35.00 price target for the company. Northland Capmk upgraded shares of Palantir Technologies to a “hold” rating in a research report on Thursday, August 22nd. Royal Bank of Canada reissued an “underperform” rating and issued a $9.00 price objective on shares of Palantir Technologies in a research note on Tuesday, August 6th. Goldman Sachs Group upped their price objective on shares of Palantir Technologies from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Palantir Technologies from $20.00 to $21.00 and gave the company a “sell” rating in a research note on Tuesday, 6 August. Five research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat , the stock has an average rating of “Hold” and an average target price of $26.79.

Read our latest analysis of Palantir technologies

Palantir Technologies stock performance

Shares of PLTR opened at $34.75 on Monday. The stock has a market cap of $77.38 billion, a P/E ratio of 289.58, a price-to-earnings-growth ratio of 5.35 and a beta of 2.72. The company has a 50-day moving average price of $29.16 and a 200-day moving average price of $25.27. Palantir Technologies has a fifty-two week low of $13.68 and a fifty-two week high of $35.20.

Palantir Technologies (NYSE:PLTR – Get Your Free Report ) last posted its quarterly earnings results on Monday, August 5th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01). Palantir Technologies had a return on equity of 8.88% and a net margin of 16.32%. The firm had revenue of $678.13 million for the quarter, compared to analyst estimates of $653.23 million. In the same quarter last year, the firm earned $0.01 EPS. The company’s revenue increased by 27.2% year-on-year. On average, research analysts forecast that Palantir Technologies will post 0.19 EPS for the current fiscal year.

Insider Trading at Palantir Technologies

In other Palantir Technologies news, insider Shyam Sankar sold 50,000 shares of Palantir Technologies stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $32.35, for a total value of $1,617,500.00. Following the completion of the transaction, the insider now owns 752,786 shares of the company’s stock, valued at $24,352,627.10. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC’s website. In other Palantir Technologies news, insider Ryan D. Taylor sold 249,684 shares of the company’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $30.01, for a total value of $7,493,016.84. Following the sale, the insider now directly owns 372,565 shares in the company, valued at $11,180,675.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible via this link. Also, insider Shyam Sankar sold 50,000 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $32.35, for a total value of $1,617,500.00. Following the completion of the sale, the insider now owns 752,786 shares in the company, valued at $24,352,627.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 698,649 shares of company stock worth $21,453,996. 12.93% of shares are currently owned by corporate insiders.

Institutional investors are stepping into Palantir Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of PLTR. Sanctuary Advisors LLC acquired a new position in Palantir Technologies in the second quarter valued at about $3,587,000. Strategic Investment Solutions Inc. IL purchased a new position in Palantir Technologies in the second quarter valued at about $125,000. Cetera Investment Advisers boosted its holdings in Palantir Technologies by 25.2% in the second quarter. Cetera Investment Advisers now owns 707,674 shares of the company’s stock worth $17,925,000 after acquiring an additional 142,411 shares during the period. Granite Bay Wealth Management LLC acquired a new position in Palantir Technologies in the second quarter valued at about $319,000. Finally, Truist Financial Corp boosted its holdings in Palantir Technologies by 21.5% in the second quarter. Truist Financial Corp now owns 449,356 shares of the company’s stock worth $11,382,000 after acquiring an additional 79,618 shares during the period. 45.65% of shares are currently owned by institutional investors.

About Palantir Technologies

(Get a free report)

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counter-terrorism investigations and operations in the United States, United Kingdom and internationally. The company provides Palantir Gotham, a software platform that enables users to identify patterns hidden deep in data sets, from signals intelligence sources to reports from confidential informants, and facilitates handoff between analysts and operational users, helping operators plan and execute worldwide responses to threats that have been identified within the platform.

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