Palantir Technologies (NYSE:PLTR) Rating Lowered to Neutral at Monness Crespi & Hardt – MarketBeat
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Palantir Technologies (NYSE:PLTR – Get Rating) was downgraded by stock analysts at Monness Crespi & Hardt from a “buy” rating to a “neutral” rating in a report released on Friday, Briefing.com reports.
Several other brokerages have also recently weighed in on PLTR. The Goldman Sachs Group began coverage on Palantir Technologies in a report on Thursday, June 23rd. They set a “neutral” rating and a $10.00 price objective for the company. Royal Bank of Canada downgraded shares of Palantir Technologies from a “sector perform” rating to an “underperform” rating and dropped their price target for the stock from $12.00 to $6.00 in a research note on Monday, May 9th. Citigroup reduced their price objective on shares of Palantir Technologies from $10.00 to $7.00 in a research note on Tuesday, May 10th. Bank of America assumed coverage on shares of Palantir Technologies in a research report on Tuesday, June 21st. They set a “buy” rating and a $13.00 target price for the company. Finally, Piper Sandler increased their target price on Palantir Technologies from $15.00 to $16.00 and gave the company an “overweight” rating in a research note on Friday, April 22nd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Palantir Technologies presently has an average rating of “Hold” and an average price target of $14.75.
Palantir Technologies Price Performance
PLTR opened at $10.49 on Friday. The stock has a market capitalization of $21.47 billion, a P/E ratio of -41.96 and a beta of 4.16. The company’s 50 day simple moving average is $8.89 and its 200-day simple moving average is $11.35. Palantir Technologies has a one year low of $6.44 and a one year high of $29.29.
Palantir Technologies (NYSE:PLTR – Get Rating) last announced its quarterly earnings data on Monday, May 9th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). The firm had revenue of $446.36 million during the quarter, compared to the consensus estimate of $443.51 million. Palantir Technologies had a negative net margin of 30.25% and a positive return on equity of 12.04%. The firm’s quarterly revenue was up 30.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.04 earnings per share. As a group, analysts anticipate that Palantir Technologies will post -0.07 EPS for the current year.
Insider Activity at Palantir Technologies
In other Palantir Technologies news, insider Ryan D. Taylor sold 22,666 shares of Palantir Technologies stock in a transaction dated Monday, May 23rd. The shares were sold at an average price of $8.03, for a total value of $182,007.98. Following the completion of the sale, the insider now owns 697,704 shares in the company, valued at approximately $5,602,563.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Ryan D. Taylor sold 22,666 shares of the stock in a transaction that occurred on Monday, May 23rd. The stock was sold at an average price of $8.03, for a total transaction of $182,007.98. Following the sale, the insider now owns 697,704 shares of the company’s stock, valued at $5,602,563.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Ryan D. Taylor sold 48,656 shares of Palantir Technologies stock in a transaction on Friday, May 20th. The shares were sold at an average price of $8.09, for a total value of $393,627.04. Following the completion of the transaction, the insider now directly owns 720,370 shares of the company’s stock, valued at $5,827,793.30. The disclosure for this sale can be found here. Insiders sold 197,382 shares of company stock worth $1,802,483 in the last ninety days. 13.22% of the stock is owned by company insiders.
Institutional Investors Weigh In On Palantir Technologies
A number of large investors have recently bought and sold shares of PLTR. Vanguard Group Inc. lifted its stake in shares of Palantir Technologies by 22.4% in the 1st quarter. Vanguard Group Inc. now owns 156,003,743 shares of the company’s stock valued at $2,141,931,000 after purchasing an additional 28,563,749 shares during the period. Norges Bank bought a new position in shares of Palantir Technologies during the 4th quarter valued at approximately $269,158,000. Bank of Montreal Can raised its holdings in shares of Palantir Technologies by 1,623.6% in the 4th quarter. Bank of Montreal Can now owns 10,157,313 shares of the company’s stock worth $189,840,000 after purchasing an additional 9,568,020 shares during the period. BlackRock Inc. lifted its stake in Palantir Technologies by 2.7% in the fourth quarter. BlackRock Inc. now owns 84,965,431 shares of the company’s stock valued at $1,547,221,000 after purchasing an additional 2,213,503 shares during the last quarter. Finally, Sozo Ventures GP I L.P. bought a new position in Palantir Technologies during the fourth quarter valued at $36,436,000. 40.02% of the stock is currently owned by institutional investors and hedge funds.
Palantir Technologies Company Profile
(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.
Further Reading
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