Fintel reports that on June 20, 2023, Raymond James downgraded their outlook for Palantir Technologies Inc – (NYSE:PLTR) from Strong Buy to Outperform.

Analyst Price Forecast Suggests 44.79% Downside

As of June 1, 2023, the average one-year price target for Palantir Technologies Inc – is 9.00. The forecasts range from a low of 5.05 to a high of $15.75. The average price target represents a decrease of 44.79% from its latest reported closing price of 16.30.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Palantir Technologies Inc – is 2,370MM, an increase of 19.41%. The projected annual non-GAAP EPS is 0.17.

What is the Fund Sentiment?

There are 1076 funds or institutions reporting positions in Palantir Technologies Inc -. This is an increase of 12 owner(s) or 1.13% in the last quarter. Average portfolio weight of all funds dedicated to PLTR is 0.16%, an increase of 37.27%. Total shares owned by institutions decreased in the last three months by 2.50% to 694,635K shares. The put/call ratio of PLTR is 0.61, indicating a bullish outlook.

What are Other Shareholders Doing?

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 52,521K shares representing 2.48% ownership of the company. In it’s prior filing, the firm reported owning 51,073K shares, representing an increase of 2.76%. The firm increased its portfolio allocation in PLTR by 24.98% over the last quarter.

Renaissance Technologies holds 40,614K shares representing 1.92% ownership of the company. In it’s prior filing, the firm reported owning 43,000K shares, representing a decrease of 5.88%. The firm increased its portfolio allocation in PLTR by 20.58% over the last quarter.

VIMSX – Vanguard Mid-Cap Index Fund Investor Shares holds 39,393K shares representing 1.86% ownership of the company. In it’s prior filing, the firm reported owning 38,853K shares, representing an increase of 1.37%. The firm increased its portfolio allocation in PLTR by 29.17% over the last quarter.

VEXMX – Vanguard Extended Market Index Fund Investor Shares holds 24,512K shares representing 1.16% ownership of the company. In it’s prior filing, the firm reported owning 23,962K shares, representing an increase of 2.24%. The firm increased its portfolio allocation in PLTR by 27.23% over the last quarter.

Geode Capital Management holds 23,712K shares representing 1.12% ownership of the company. In it’s prior filing, the firm reported owning 22,965K shares, representing an increase of 3.15%. The firm increased its portfolio allocation in PLTR by 25.72% 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.

Key filings for this company:

• UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-K

This article originally appeared on Fintel

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