Palantir Technologies Inc. Receives $35.64 Consensus Target Price from Brokerages

As of December 8, 2024, Palantir Technologies Inc. (NYSE:PLTR) has been given an average rating of "Reduce" from the sixteen brokerage firms analyzing its stock. According to Marketbeat Ratings, six analysts have rated the shares as a sell, while eight recommend holding onto the stock and two see it as a buy. The consensus price target set by these brokers for Palantir's shares over the next twelve months is $35.64.

Recently, various analysts have provided their insights regarding Palantir's stock. On November 7, Argus downgraded the company's rating from "buy" to "hold." William Blair also reaffirmed an "underperform" rating for Palantir shares on Wednesday. Additionally, Raymond James reduced its rating from "outperform" to "market perform" on September 23. Northland Securities has increased its price target for Palantir from $35.00 to $38.00, maintaining a "market perform" rating as of November 5. Meanwhile, Bank of America raised its target price from $55.00 to $75.00 while assigning a "buy" rating on November 25.

Palantir Technologies Stock Performance

On the day of reporting, Palantir's stock opened at $76.34. Over the past 52 weeks, the shares have ranged from a low of $15.66 to a high of $76.82. The market capitalization for the company stands at $173.90 billion, complemented by a PE ratio of 381.72 and a price-to-earnings-growth ratio of 9.41. The stock possesses a beta of 2.87, indicating it's quite volatile. Additionally, its fifty-day moving average is at $52.25, while the 200-day average sits at $36.58.

Palantir Technologies most recently announced its earnings on November 4. The company reported earnings per share (EPS) of $0.10 for the quarter, slightly surpassing the consensus estimate of $0.09. In this period, Palantir achieved a net margin of 18.01% and a return on equity of 9.94%. The revenue generated during the quarter was reported at $725.52 million, exceeding analysts' expectations of $705.11 million. This marks a significant year-over-year increase of 30%. Analysts predict an EPS of $0.21 for Palantir in the current fiscal year.

Insider Transactions

In recent insider trading news, Alexander C. Karp, the company's CEO, sold 4.5 million shares at an average price of $36.07 on September 16, amounting to a total of $162,315,000. This sale reduced his holdings in Palantir by 41.16%, leaving him with approximately 6.43 million shares valued at around $232 million. Additionally, on September 9, insider Heather A. Planishek sold 20,000 shares for a total of $674,800, representing a 3.36% decrease in her ownership. In total, insiders have sold 39.42 million shares worth nearly $1.97 billion in the past three months, with 12.93% of the company now owned by insiders.

Institutional Holdings

Institutional investors have also made notable changes to their stakes in Palantir. State Street Corp recently increased its position by 96.4%, now holding over 82.5 million shares valued at approximately $3.07 billion after purchasing an additional 40.5 million shares. Geode Capital Management boosted its holdings by 52.9%, owning about 47.9 million shares worth around $1.78 billion. Other notable buyers include Sumitomo Mitsui Trust Group, which grew its stake by 5.7%, and ARK Investment Management, which raised its holdings by 2.2%. Overall, institutional investors own around 45.65% of Palantir's shares.

About Palantir Technologies

Palantir Technologies Inc. specializes in developing and deploying software solutions aimed at supporting the intelligence community in counterterrorism efforts across the United States, the United Kingdom, and beyond. The firm offers Palantir Gotham, which enables users to detect hidden patterns within vast datasets, facilitating analytically driven decision-making to contribute to operational responses against identified threats.

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