Palantir Technologies (NYSE:PLTR) Price Target Raised to $75.00

Palantir Technologies (NYSE:PLTR) had its target price lifted by Bank of America from $55.00 to $75.00 in a report published on Monday morning,Benzinga reports. Bank of America currently has a buy rating on the stock.

Other equities analysts have also recently issued reports about the company. Deutsche Bank Aktiengesellschaft upped their price objective on Palantir Technologies from $20.00 to $21.00 and gave the stock a “sell” rating in a report on Tuesday, August 6th. DA Davidson increased their price target on shares of Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Northland Capmk raised shares of Palantir Technologies to a “hold” rating in a research note on Thursday, August 22nd. Wedbush upped their price objective on shares of Palantir Technologies from $38.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, September 26th. Finally, Argus cut shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Six investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $35.64.

Palantir Technologies Trading Up 0.5 %

PLTR stock opened at $66.05 on Monday. Palantir Technologies has a 1-year low of $15.66 and a 1-year high of $67.88. The stock has a market cap of $150.46 billion, a price-to-earnings ratio of 330.25 and a beta of 2.70. The company’s 50 day moving average is $47.68 and its 200 day moving average is $34.33.

Palantir Technologies (NYSE:PLTR) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.01. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The firm had revenue of $725.52 million for the quarter, compared to analysts’ expectations of $705.11 million. During the same quarter last year, the company posted $0.03 EPS. The business’s quarterly revenue was up 30.0% on a year-over-year basis. As a group, sell-side analysts forecast that Palantir Technologies will post 0.21 EPS for the current fiscal year.

Insider Activity

In other news, insider Alexander C. Karp sold 4,500,000 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $36.07, for a total value of $162,315,000.00. Following the completion of the transaction, the insider now owns 6,432,258 shares of the company’s stock, valued at approximately $232,011,546.06. This represents a 41.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 9,746 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $66.77, for a total value of $650,740.42. Following the completion of the transaction, the director now owns 111,644 shares of the company’s stock, valued at approximately $7,454,469.88. The trade was a 8.03 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,163,181 shares of company stock valued at $1,603,288,758. Company insiders own 12.93% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

A number of institutional investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its stake in shares of Palantir Technologies by 60.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock worth $460,798,000 after acquiring an additional 4,667,955 shares in the last quarter. State of Alaska Department of Revenue increased its stake in shares of Palantir Technologies by 22.9% during the third quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company’s stock valued at $13,786,000 after purchasing an additional 68,945 shares in the last quarter. Oppenheimer & Co. Inc. increased its stake in shares of Palantir Technologies by 19.2% during the third quarter. Oppenheimer & Co. Inc. now owns 541,567 shares of the company’s stock valued at $20,146,000 after purchasing an additional 87,062 shares in the last quarter. Tyler Stone Wealth Management lifted its holdings in shares of Palantir Technologies by 97.9% during the third quarter. Tyler Stone Wealth Management now owns 202,006 shares of the company’s stock valued at $7,515,000 after purchasing an additional 99,921 shares during the last quarter. Finally, Heritage Wealth Management Inc. CA bought a new stake in shares of Palantir Technologies in the 3rd quarter worth approximately $1,076,000. Institutional investors own 45.65% of the company’s stock.

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.