Palantir Technologies (NASDAQ:PLTR) Price Target Raised to $90.00

Palantir Technologies (NASDAQ:PLTRFree Report) had its target price lifted by Wedbush from $75.00 to $90.00 in a research note issued to investors on Thursday morning, MarketBeat reports. The firm currently has an outperform rating on the stock.

Several other equities research analysts have also issued reports on the stock. Robert W. Baird initiated coverage on shares of Palantir Technologies in a report on Thursday, December 12th. They issued a “neutral” rating and a $70.00 target price for the company. DA Davidson raised their price objective on shares of Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. UBS Group initiated coverage on Palantir Technologies in a research note on Thursday, December 19th. They set a “neutral” rating and a $80.00 target price on the stock. Jefferies Financial Group lowered Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price target for the company. in a research note on Thursday, November 7th. Finally, Bank of America upped their price objective on Palantir Technologies from $55.00 to $75.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Seven research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $44.61.

Read Our Latest Report on Palantir Technologies

Palantir Technologies Price Performance

Shares of NASDAQ PLTR opened at $78.98 on Thursday. Palantir Technologies has a 1-year low of $16.03 and a 1-year high of $84.80. The business’s 50 day moving average is $71.96 and its two-hundred day moving average is $48.89. The stock has a market capitalization of $179.92 billion, a P/E ratio of 394.92, a PEG ratio of 7.08 and a beta of 2.82.

Palantir Technologies (NASDAQ:PLTRGet Free Report) last released 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 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 company’s revenue for the quarter was up 30.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.03 EPS. As a group, equities research analysts anticipate that Palantir Technologies will post 0.2 earnings per share for the current fiscal year.

Insider Transactions at Palantir Technologies

In other news, insider Shyam Sankar sold 5,250,000 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $70.08, for a total value of $367,920,000.00. Following the sale, the insider now owns 752,786 shares in the company, valued at $52,755,242.88. This represents a 87.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alexander C. Karp sold 4,500,000 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $55.03, for a total value of $247,635,000.00. Following the sale, the insider now directly owns 6,432,258 shares in the company, valued at approximately $353,967,157.74. This trade represents a 41.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,518,855 shares of company stock worth $1,438,682,423 over the last 90 days. 12.93% of the stock is currently owned by company insiders.

Institutional Trading of Palantir Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its stake in shares of Palantir Technologies by 10.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,880,610 shares of the company’s stock valued at $72,963,000 after purchasing an additional 278,544 shares in the last quarter. XTX Topco Ltd purchased a new position in shares of Palantir Technologies during the 2nd quarter valued at approximately $330,000. Thrivent Financial for Lutherans grew its stake in Palantir Technologies by 20.9% in the 2nd quarter. Thrivent Financial for Lutherans now owns 52,732 shares of the company’s stock valued at $1,336,000 after acquiring an additional 9,109 shares during the period. ProShare Advisors LLC increased its holdings in Palantir Technologies by 14.9% in the 2nd quarter. ProShare Advisors LLC now owns 13,100 shares of the company’s stock worth $332,000 after acquiring an additional 1,702 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in Palantir Technologies by 63.8% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 364,167 shares of the company’s stock worth $9,224,000 after acquiring an additional 141,800 shares during the period. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Company Profile

(Get Free Report)

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.

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