Palantir Technologies (NASDAQ:PLTR) Hits New 12-Month High After Analyst Upgrade

Palantir Technologies Inc. (NASDAQ:PLTR)’s stock price reached a new 52-week high on Thursday after Citigroup raised their price target on the stock from $42.00 to $110.00. Citigroup currently has a neutral rating on the stock. Palantir Technologies traded as high as $108.19 and last traded at $107.09, with a volume of 41032045 shares changing hands. The stock had previously closed at $101.36.

Other equities analysts have also recently issued reports about the stock. Wedbush raised their target price on shares of Palantir Technologies from $75.00 to $90.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. Northland Securities raised their price target on Palantir Technologies from $38.00 to $80.00 and gave the company a “market perform” rating in a report on Tuesday. Morgan Stanley raised Palantir Technologies from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $60.00 to $95.00 in a report on Tuesday. Argus downgraded Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Finally, Jefferies Financial Group raised their price target on Palantir Technologies from $28.00 to $60.00 and gave the company an “underperform” rating in a report on Tuesday. Six equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Palantir Technologies has an average rating of “Hold” and a consensus target price of $69.44.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 11,794 shares of Palantir Technologies stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $102.80, for a total value of $1,212,423.20. Following the transaction, the director now owns 88,129 shares in the company, valued at $9,059,661.20. The trade was a 11.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Alexandra W. Schiff sold 4,000 shares of Palantir Technologies stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total value of $286,520.00. Following the completion of the transaction, the director now owns 195,393 shares in the company, valued at approximately $13,996,000.59. This represents a 2.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,656,687 shares of company stock worth $1,040,105,687 over the last 90 days. Insiders own 12.93% of the company’s stock.

Institutional Trading of Palantir Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in PLTR. Northwest Investment Counselors LLC bought a new stake in shares of Palantir Technologies during the third quarter worth about $25,000. Prestige Wealth Management Group LLC grew its holdings in shares of Palantir Technologies by 747.1% during the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $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 about $27,000. First PREMIER Bank bought a new stake in shares of Palantir Technologies during the fourth quarter worth about $28,000. Finally, Wolff Wiese Magana LLC grew its holdings in shares of Palantir Technologies by 230.4% during the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock worth $29,000 after purchasing an additional 265 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Stock Up 9.8 %

The stock has a 50 day moving average of $75.56 and a 200 day moving average of $52.26. The company has a market capitalization of $253.50 billion, a price-to-earnings ratio of 556.43, a price-to-earnings-growth ratio of 7.54 and a beta of 2.81.

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

About Palantir Technologies

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.