Palantir Technologies (NYSE:PLTR) Given New $47.00 Price Target at DA Davidson

Palantir Technologies (NYSE:PLTR) had its price objective boosted by DA Davidson from $28.00 to $47.00 in a report published on Tuesday,Benzinga reports. The firm currently has a neutral rating on the stock. DA Davidson also issued estimates for Palantir Technologies’ Q4 2024 earnings at $0.07 EPS, FY2024 earnings at $0.21 EPS and FY2025 earnings at $0.29 EPS.

PLTR has been the topic of a number of other reports. Mizuho increased their price objective on Palantir Technologies from $30.00 to $37.00 and gave the company an “underperform” rating in a research report on Tuesday. Bank of America lifted their price target on shares of Palantir Technologies from $30.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Northland Capmk upgraded shares of Palantir Technologies to a “hold” rating in a report on Thursday, August 22nd. Royal Bank of Canada reiterated an “underperform” rating and set a $9.00 target price on shares of Palantir Technologies in a research report on Tuesday, August 6th. Finally, Raymond James lowered Palantir Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. Six equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Palantir Technologies currently has an average rating of “Hold” and an average price target of $31.71.

Palantir Technologies Stock Performance

Shares of PLTR opened at $58.42 on Tuesday. The stock has a fifty day moving average price of $39.60 and a two-hundred day moving average price of $30.33. The company has a market cap of $130.83 billion, a price-to-earnings ratio of 290.86 and a beta of 2.70. Palantir Technologies has a 52-week low of $15.66 and a 52-week high of $58.48.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The business had revenue of $725.52 million during the quarter, compared to analysts’ expectations of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The firm’s revenue for the quarter was up 30.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.03 earnings per share. As a group, research analysts predict that Palantir Technologies will post 0.19 EPS for the current fiscal year.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Heather A. Planishek sold 20,000 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $30.24, for a total transaction of $604,800.00. Following the sale, the insider now directly owns 612,006 shares of the company’s stock, valued at approximately $18,507,061.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Lauren Elaina Friedman Stat sold 6,000 shares of Palantir Technologies stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $36.35, for a total transaction of $218,100.00. Following the completion of the sale, the director now directly owns 152,280 shares of the company’s stock, valued at approximately $5,535,378. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Heather A. Planishek sold 20,000 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $30.24, for a total value of $604,800.00. Following the completion of the sale, the insider now owns 612,006 shares of the company’s stock, valued at $18,507,061.44. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 25,482,878 shares of company stock valued at $1,044,202,496 in the last ninety days. 12.93% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Palantir Technologies

Several institutional investors and hedge funds have recently modified their holdings of PLTR. International Assets Investment Management LLC boosted its holdings in Palantir Technologies by 3,476.2% in the 3rd quarter. International Assets Investment Management LLC now owns 6,832,301 shares of the company’s stock valued at $254,162,000 after purchasing an additional 6,641,253 shares during the period. 1832 Asset Management L.P. increased its stake in Palantir Technologies by 248,208.2% during the 1st quarter. 1832 Asset Management L.P. now owns 3,625,300 shares of the company’s stock worth $83,418,000 after acquiring an additional 3,623,840 shares during the period. Marshall Wace LLP raised its stake in Palantir Technologies by 594.3% in the second quarter. Marshall Wace LLP now owns 3,550,176 shares of the company’s stock valued at $89,926,000 after purchasing an additional 3,038,861 shares in the last quarter. Vanguard Group Inc. grew its stake in Palantir Technologies by 1.6% during the first quarter. Vanguard Group Inc. now owns 196,834,580 shares of the company’s stock worth $4,529,164,000 after buying an additional 3,029,317 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in Palantir Technologies by 226.2% during the third quarter. Principal Financial Group Inc. now owns 2,839,680 shares of the company’s stock worth $105,636,000 after buying an additional 1,969,213 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

About Palantir Technologies

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.