Palantir Technologies (NYSE:PLTR) Now Covered by Analysts at Bank of America

Bank of America initiated coverage on shares of Palantir Technologies (NYSE:PLTRGet Rating) in a research report released on Tuesday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $13.00 price objective on the stock.

Other research analysts also recently issued reports about the stock. Piper Sandler increased their price target on shares of Palantir Technologies from $15.00 to $16.00 and gave the stock an overweight rating in a research report on Friday, April 22nd. Citigroup decreased their price target on shares of Palantir Technologies from $10.00 to $7.00 in a research report on Tuesday, May 10th. Royal Bank of Canada cut shares of Palantir Technologies from a sector perform rating to an underperform rating and reduced their price objective for the stock from $12.00 to $6.00 in a research note on Monday, May 9th. Monness Crespi & Hardt initiated coverage on shares of Palantir Technologies in a research note on Monday, April 11th. They issued a buy rating and a $20.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Palantir Technologies from $15.00 to $11.00 in a research note on Tuesday, May 10th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Palantir Technologies has a consensus rating of Hold and an average target price of $14.27.

Shares of NYSE PLTR opened at $9.46 on Tuesday. The firm’s 50 day moving average price is $9.27 and its 200-day moving average price is $12.63. The company has a market cap of $19.20 billion, a PE ratio of -37.84 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:PLTRGet Rating) last issued its quarterly earnings data 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 company had revenue of $446.36 million for 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 revenue for the quarter was up 30.8% on a year-over-year basis. During the same quarter last year, the company earned $0.04 EPS. As a group, equities research analysts forecast that Palantir Technologies will post -0.07 earnings per share for the current year.

In other news, insider Ryan D. Taylor sold 22,666 shares of the firm’s 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ryan D. Taylor sold 48,656 shares of the firm’s stock in a transaction dated Friday, May 20th. The stock was sold at an average price of $8.09, for a total transaction of $393,627.04. Following the completion of the sale, the insider now owns 720,370 shares of the company’s stock, valued at approximately $5,827,793.30. The disclosure for this sale can be found here. Insiders have sold 119,199 shares of company stock valued at $1,178,652 in the last quarter. 17.00% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in PLTR. Endurance Wealth Management Inc. bought a new stake in Palantir Technologies during the 1st quarter valued at about $27,000. IndexIQ Advisors LLC purchased a new position in Palantir Technologies during the 1st quarter valued at about $27,000. Herold Advisors Inc. purchased a new position in Palantir Technologies during the 1st quarter valued at about $35,000. UMB Bank N A MO purchased a new position in Palantir Technologies during the 4th quarter valued at about $37,000. Finally, TAP Consulting LLC purchased a new position in Palantir Technologies during the 4th quarter valued at about $38,000. Institutional investors own 40.02% of the company’s stock.

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.

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Analyst Recommendations for Palantir Technologies (NYSE:PLTR)

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