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

Palantir Technologies (NYSE:PLTR) had its target price increased by Wedbush from $57.00 to $75.00 in a research report released on Monday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

PLTR has been the topic of several other research reports. Northland Capmk raised Palantir Technologies to a “hold” rating in a research note on Thursday, August 22nd. Royal Bank of Canada restated an “underperform” rating and set a $9.00 price objective on shares of Palantir Technologies in a report on Tuesday, August 6th. Jefferies Financial Group lowered shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 target price on the stock. in a report on Thursday, November 7th. Raymond James lowered shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. Finally, Northland Securities raised their price objective on Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a research note on Tuesday, November 5th. Six equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $35.64.

Palantir Technologies Price Performance

PLTR stock opened at $66.05 on Monday. The stock has a market capitalization of $150.46 billion, a price-to-earnings ratio of 330.25 and a beta of 2.70. The business has a fifty day moving average price of $47.68 and a 200 day moving average price of $34.33. Palantir Technologies has a fifty-two week low of $15.66 and a fifty-two week high of $67.88.

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, topping the consensus estimate of $0.09 by $0.01. The firm had revenue of $725.52 million during the quarter, compared to analysts’ expectations 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 quarter in the previous year, the company posted $0.03 EPS. On average, equities analysts expect that Palantir Technologies will post 0.21 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Lauren Elaina Friedman Stat sold 9,746 shares of the business’s stock in a transaction dated 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 sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Heather A. Planishek sold 20,000 shares of Palantir Technologies stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $33.74, for a total transaction of $674,800.00. Following the completion of the sale, the insider now owns 576,023 shares of the company’s stock, valued at $19,435,016.02. This trade represents a 3.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,163,181 shares of company stock valued at $1,603,288,758 over the last ninety days. 12.93% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Palantir Technologies

Large investors have recently added to or reduced their stakes in the stock. State Street Corp lifted its position in Palantir Technologies by 96.4% during the third quarter. State Street Corp now owns 82,512,440 shares of the company’s stock worth $3,069,463,000 after purchasing an additional 40,498,024 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Palantir Technologies by 52.9% during the 3rd quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock worth $1,777,568,000 after acquiring an additional 16,598,253 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its position in Palantir Technologies by 5.7% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,982,925 shares of the company’s stock valued at $557,365,000 after purchasing an additional 808,444 shares in the last quarter. ARK Investment Management LLC lifted its stake in Palantir Technologies by 2.2% during the second quarter. ARK Investment Management LLC now owns 13,023,099 shares of the company’s stock worth $329,875,000 after purchasing an additional 277,623 shares during the last quarter. Finally, FMR LLC boosted its holdings in shares of Palantir Technologies by 8.8% in the 3rd quarter. FMR LLC now owns 12,478,281 shares of the company’s stock valued at $464,192,000 after purchasing an additional 1,004,603 shares in the last quarter. Institutional investors and hedge funds 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.