Palantir Technologies (NASDAQ:PLTR) Price Target Raised to $125.00

Palantir Technologies (NASDAQ:PLTR) had its price objective increased by research analysts at Bank of America from $90.00 to $125.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Bank of America‘s target price points to a potential upside of 23.32% from the stock’s current price.

PLTR has been the topic of a number of other reports. Cantor Fitzgerald started coverage on Palantir Technologies in a report on Friday, January 17th. They set a “neutral” rating and a $72.00 target price on the stock. William Blair reaffirmed an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 18th. The Goldman Sachs Group increased their price objective on shares of Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Jefferies Financial Group downgraded shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 target price for the company. in a report on Thursday, November 7th. Finally, Morgan Stanley raised shares of Palantir Technologies from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $60.00 to $95.00 in a report on Tuesday. Six analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, Palantir Technologies has a consensus rating of “Hold” and an average price target of $69.44.

Palantir Technologies Price Performance

Palantir Technologies stock opened at $101.36 on Tuesday. The company’s 50-day moving average is $74.85 and its 200-day moving average is $51.92. The firm has a market capitalization of $230.90 billion, a PE ratio of 506.83, a P/E/G ratio of 7.54 and a beta of 2.81. Palantir Technologies has a fifty-two week low of $19.76 and a fifty-two week high of $106.91.

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

Insider Transactions at Palantir Technologies

In related news, Director Alexandra W. Schiff sold 4,000 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total transaction of $286,520.00. Following the sale, the director now owns 195,393 shares in the company, valued at approximately $13,996,000.59. This trade represents a 2.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Alexander C. Karp sold 1,823,602 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $63.12, for a total transaction of $115,105,758.24. Following the transaction, the insider now owns 6,432,258 shares of the company’s stock, valued at approximately $406,004,124.96. This represents a 22.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,653,753 shares of company stock valued at $1,039,407,675. 12.93% of the stock is owned by corporate insiders.

Institutional Trading of Palantir Technologies

Several large investors have recently bought and sold shares of the business. Northwest Investment Counselors LLC bought a new position in shares of Palantir Technologies in the third quarter worth about $25,000. Prestige Wealth Management Group LLC lifted its stake in Palantir Technologies by 747.1% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after purchasing an additional 650 shares during the last quarter. Roxbury Financial LLC bought a new stake in shares of Palantir Technologies during the fourth quarter worth $27,000. First PREMIER Bank acquired a new position in shares of Palantir Technologies during the fourth quarter worth $28,000. Finally, Wolff Wiese Magana LLC lifted its stake in shares of Palantir Technologies by 230.4% in the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock valued at $29,000 after acquiring an additional 265 shares during the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Company Profile

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.