The Goldman Sachs Group Begins Coverage on Palantir Technologies (NYSE:PLTR) – MarketBeat

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Research analysts at The Goldman Sachs Group assumed coverage on shares of Palantir Technologies (NYSE:PLTR – Get Rating) in a research report issued on Thursday, The Fly reports. The firm set a “neutral” rating on the stock.
PLTR has been the topic of a number of other reports. Morgan Stanley upgraded Palantir Technologies from an “underweight” rating to an “equal weight” rating and decreased their target price for the stock from $24.00 to $16.00 in a research note on Monday, March 7th. Bank of America assumed coverage on Palantir Technologies in a research note on Tuesday. They issued a “buy” rating and a $13.00 target price on the stock. Piper Sandler upped their target price on Palantir Technologies from $15.00 to $16.00 and gave the stock an “overweight” rating in a research note on Friday, April 22nd. Deutsche Bank Aktiengesellschaft reduced their price objective on Palantir Technologies from $15.00 to $11.00 in a research report on Tuesday, May 10th. Finally, Royal Bank of Canada lowered Palantir Technologies from a “sector perform” rating to an “underperform” rating and reduced their price objective for the company from $12.00 to $6.00 in a research report on Monday, May 9th. Two analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $14.70.
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Shares of PLTR opened at $9.01 on Thursday. The stock’s 50-day simple moving average is $9.33 and its 200 day simple moving average is $12.69. The stock has a market capitalization of $18.29 billion, a price-to-earnings ratio of -36.04 and a beta of 5.05. Palantir Technologies has a 52-week low of $6.44 and a 52-week high of $29.29.
Palantir Technologies (NYSE:PLTR – Get Rating) last announced its earnings results on Monday, May 9th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). The business had revenue of $446.36 million during the quarter, compared to the consensus estimate of $443.51 million. Palantir Technologies had a positive return on equity of 12.04% and a negative net margin of 30.25%. Palantir Technologies’s revenue was up 30.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.04 earnings per share. As a group, research analysts predict that Palantir Technologies will post -0.07 earnings per share for the current year.
In related news, Director Alexander D. Moore sold 36,500 shares of the stock in a transaction dated Friday, April 1st. The stock was sold at an average price of $13.75, for a total transaction of $501,875.00. Following the completion of the sale, the director now directly owns 1,939,626 shares in the company, valued at approximately $26,669,857.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Alexander D. Moore sold 11,377 shares of the stock in a transaction that occurred on Thursday, June 9th. The stock was sold at an average price of $8.89, for a total value of $101,141.53. Following the completion of the sale, the director now owns 1,960,928 shares of the company’s stock, valued at approximately $17,432,649.92. The disclosure for this sale can be found here. Insiders have sold a total of 119,199 shares of company stock valued at $1,178,652 over the last 90 days. 17.00% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. IndexIQ Advisors LLC purchased a new stake in Palantir Technologies in the 1st quarter worth approximately $27,000. Endurance Wealth Management Inc. purchased a new stake in Palantir Technologies in the 1st quarter worth approximately $27,000. UMB Bank N A MO purchased a new stake in Palantir Technologies in the 4th quarter worth approximately $37,000. TAP Consulting LLC purchased a new position in shares of Palantir Technologies in the 4th quarter valued at approximately $38,000. Finally, CarsonAllaria Wealth Management Ltd. purchased a new position in shares of Palantir Technologies in the 4th quarter valued at approximately $46,000. Institutional investors and hedge funds own 40.02% of the company’s stock.
About Palantir Technologies (Get Rating)
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 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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Analyst Recommendations for Palantir Technologies (NYSE:PLTR)
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