Raymond James Lowers Palantir Technologies (NYSE:PLTR) to Market Perform

Raymond James downgraded shares of Palantir Technologies (NYSE:PLTR) from an outperform rating to a market perform rating in a research report sent to investors on Monday morning, Marketbeat reports.

Several other research analysts have also recently commented on PLTR. Citigroup boosted their price target on Palantir Technologies from $25.00 to $28.00 and gave the stock a neutral rating in a research note on Tuesday, July 30th. The Goldman Sachs Group increased their target price on Palantir Technologies from $14.00 to $16.00 and gave the company a neutral rating in a research note on Wednesday, August 7th. Argus started coverage on shares of Palantir Technologies in a research note on Monday, June 17th. They issued a buy rating and a $29.00 price target for the company. Northland Capmk upgraded shares of Palantir Technologies to a hold rating in a research note on Thursday, August 22nd. Finally, DA Davidson raised their price objective on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a neutral rating in a report on Tuesday, August 6th. Five investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, Palantir Technologies currently has an average rating of Hold and an average target price of $27.29.

Palantir Technologies Stock Down 0.1 %

Shares of NYSE:PLTR opened at $37.08 on Monday. The company has a market capitalization of $83.04 billion, a price-to-earnings ratio of 309.03 and a beta of 2.72. The company has a 50 day moving average of $31.27 and a two-hundred day moving average of $26.23. Palantir Technologies has a 52-week low of $14.16 and a 52-week high of $38.19.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings results on Monday, August 5th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. The firm had revenue of $678.13 million for the quarter, compared to analyst estimates of $653.23 million. During the same period in the previous year, the business posted $0.01 earnings per share. Palantir Technologies’s revenue for the quarter was up 27.2% on a year-over-year basis. On average, equities analysts anticipate that Palantir Technologies will post 0.19 earnings per share for the current year.

Insider Activity

In related news, Director Lauren Elaina Friedman Stat sold 6,655 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $38.17, for a total value of $254,021.35. Following the sale, the director now owns 145,625 shares of the company’s stock, valued at approximately $5,558,506.25. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Lauren Elaina Friedman Stat sold 6,655 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $38.17, for a total value of $254,021.35. Following the sale, the director now owns 145,625 shares of the company’s stock, valued at approximately $5,558,506.25. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Eric H. Woersching sold 3,026 shares of the business’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $28.00, for a total transaction of $84,728.00. Following the transaction, the director now directly owns 29,817 shares of the company’s stock, valued at $834,876. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,644,559 shares of company stock valued at $346,929,762. 12.93% of the stock is currently owned by insiders.

Institutional Trading of Palantir Technologies

Several hedge funds have recently added to or reduced their stakes in PLTR. Summit Securities Group LLC acquired a new position in shares of Palantir Technologies during the second quarter valued at $25,000. Farmers & Merchants Investments Inc. bought a new stake in shares of Palantir Technologies during the 2nd quarter worth about $25,000. West Paces Advisors Inc. lifted its stake in shares of Palantir Technologies by 110.7% in the 1st quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock worth $27,000 after acquiring an additional 620 shares during the period. University of Texas Texas AM Investment Management Co. bought a new position in shares of Palantir Technologies in the second quarter valued at approximately $30,000. Finally, Massmutual Trust Co. FSB ADV increased its stake in shares of Palantir Technologies by 105.3% during the first quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock valued at $31,000 after acquiring an additional 691 shares during the period. Institutional investors own 45.65% of the company’s stock.

Palantir Technologies Company Profile

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.