Fintel reports that on June 17, 2024, Argus Research initiated coverage of Palantir Technologies (NYSE:PLTR) with a Buy recommendation.
Analyst Price Forecast Suggests 12.55% Downside
As of June 12, 2024, the average one-year price target for Palantir Technologies is 21.88. The forecasts range from a low of 9.09 to a high of $36.75. The average price target represents a decrease of 12.55% from its latest reported closing price of 25.02.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Palantir Technologies is 2,979MM, an increase of 27.63%. The projected annual non-GAAP EPS is 0.23.
What is the Fund Sentiment?
There are 1,527 funds or institutions reporting positions in Palantir Technologies. This is an increase of 146 owner(s) or 10.57% in the last quarter. Average portfolio weight of all funds dedicated to PLTR is 0.30%, an increase of 7.93%. Total shares owned by institutions increased in the last three months by 2.71% to 924,028K shares. 
The put/call ratio of PLTR is 0.68, indicating a bullish outlook.
What are Other Shareholders Doing?
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 63,057K shares representing 2.83% ownership of the company. In its prior filing, the firm reported owning 61,736K shares , representing an increase of 2.10%. The firm increased its portfolio allocation in PLTR by 24.79% over the last quarter.
Renaissance Technologies holds 47,355K shares representing 2.13% ownership of the company. In its prior filing, the firm reported owning 43,591K shares , representing an increase of 7.95%. The firm increased its portfolio allocation in PLTR by 47.83% over the last quarter.
VIMSX - Vanguard Mid-Cap Index Fund Investor Shares holds 43,303K shares representing 1.94% ownership of the company. In its prior filing, the firm reported owning 43,795K shares , representing a decrease of 1.14%. The firm increased its portfolio allocation in PLTR by 23.71% over the last quarter.
Geode Capital Management holds 29,463K shares representing 1.32% ownership of the company. In its prior filing, the firm reported owning 28,174K shares , representing an increase of 4.38%. The firm increased its portfolio allocation in PLTR by 23.97% over the last quarter.
VEXMX - Vanguard Extended Market Index Fund Investor Shares holds 28,750K shares representing 1.29% ownership of the company. In its prior filing, the firm reported owning 28,504K shares , representing an increase of 0.85%. The firm increased its portfolio allocation in PLTR by 27.07% over the last quarter.
Palantir Technologies Background Information
(This description is provided by the company.)
Palantir Technologies Inc. is a software company that builds enterprise data platforms for use by organizations with complex and sensitive data environments. From building safer cars and planes, to discovering new drugs and combating terrorism, Palantir helps customers across the public, private, and non-profit sectors transform the way they use their data.
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
