Palantir Technologies (NYSE:PLTR) Price Target Raised to $75.00 at Bank of America

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

Other equities analysts have also issued reports about the stock. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Palantir Technologies from $20.00 to $21.00 and gave the company a “sell” rating in a report on Tuesday, August 6th. Northland Securities upped their price objective on shares of Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a report on Tuesday, November 5th. The Goldman Sachs Group upped their price objective on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Argus lowered shares of Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Finally, DA Davidson upped their price objective on shares of Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Six equities research 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. According to MarketBeat.com, Palantir Technologies has a consensus rating of “Hold” and an average target price of $35.64.

Palantir Technologies Price Performance

NYSE:PLTR opened at $64.63 on Monday. The firm has a market capitalization of $147.23 billion, a price-to-earnings ratio of 323.17 and a beta of 2.70. The company’s 50-day moving average is $46.50 and its two-hundred day moving average is $33.78. Palantir Technologies has a 1-year low of $15.66 and a 1-year high of $67.88.

Palantir Technologies (NYSE:PLTR) last posted its earnings results 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. The company had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. Palantir Technologies’s revenue was up 30.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.03 EPS. As a group, equities analysts anticipate that Palantir Technologies will post 0.21 earnings per share for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 6,000 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $36.35, for a total value of $218,100.00. Following the sale, the director now directly owns 152,280 shares of the company’s stock, valued at approximately $5,535,378. This represents a 3.79 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Alexander C. Karp sold 1,620,395 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $63.21, for a total transaction of $102,425,167.95. Following the completion of the transaction, the insider now directly owns 6,432,258 shares in the company, valued at $406,583,028.18. This trade represents a 20.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,167,451 shares of company stock valued at $1,603,067,889. Insiders own 12.93% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PLTR. Summit Securities Group LLC purchased a new position in shares of Palantir Technologies in the 2nd quarter valued at $25,000. Farmers & Merchants Investments Inc. purchased a new position in shares of Palantir Technologies in the 2nd quarter valued at $25,000. Northwest Investment Counselors LLC acquired a new stake in Palantir Technologies during the 3rd quarter worth $25,000. Prestige Wealth Management Group LLC boosted its stake in Palantir Technologies by 747.1% during the 3rd 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 period. Finally, University of Texas Texas AM Investment Management Co. acquired a new stake in Palantir Technologies during the 2nd quarter worth $30,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

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.