Palantir Technologies (NYSE:PLTR) Price Target Raised to $37.00

Palantir Technologies (NYSE:PLTR) had its target price boosted by analysts at Mizuho from $30.00 to $37.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has an “underperform” rating on the stock. Mizuho’s target price suggests a potential downside of 26.81% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the company. DA Davidson increased their price target on Palantir Technologies from $24.00 to $28.00 and gave the company a “neutral” rating in a report on Tuesday, August 6th. Raymond James cut Palantir Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. Citigroup raised their target price on Palantir Technologies from $25.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Jefferies Financial Group raised their target price on Palantir Technologies from $24.00 to $28.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Finally, Northland Securities raised their target price on Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a research note on Tuesday. Five equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Palantir Technologies has a consensus rating of “Hold” and an average price target of $28.57.

Palantir Technologies Stock Up 22.1 %

Shares of Palantir Technologies stock traded up $9.14 during mid-day trading on Tuesday, reaching $50.55. 155,901,438 shares of the stock traded hands, compared to its average volume of 56,635,648. Palantir Technologies has a fifty-two week low of $15.66 and a fifty-two week high of $51.19. The stock has a market capitalization of $113.20 billion, a PE ratio of 297.37 and a beta of 2.70. The business has a 50-day moving average of $38.19 and a 200 day moving average of $29.75.

Palantir Technologies (NYSE:PLTR) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.09 by $0.01. Palantir Technologies had a return on equity of 8.88% and a net margin of 16.32%. The firm had revenue of $725.52 million during the quarter, compared to analysts’ expectations of $705.11 million. During the same quarter last year, the firm earned $0.03 earnings per share. The business’s revenue for the quarter was up 30.0% on a year-over-year basis. On average, equities research analysts expect that Palantir Technologies will post 0.19 EPS for the current fiscal year.

Insiders Place Their Bets

In other Palantir Technologies news, insider Alexander C. Karp sold 4,500,000 shares of Palantir Technologies stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $36.07, for a total transaction of $162,315,000.00. Following the completion of the sale, the insider now directly owns 6,432,258 shares of the company’s stock, valued at $232,011,546.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Alexander C. Karp sold 3,337,048 shares of Palantir Technologies stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $45.02, for a total transaction of $150,233,900.96. Following the sale, the insider now owns 6,432,258 shares in the company, valued at approximately $289,580,255.16. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Alexander C. Karp sold 4,500,000 shares of Palantir Technologies stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $36.07, for a total value of $162,315,000.00. Following the sale, the insider now owns 6,432,258 shares in the company, valued at $232,011,546.06. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,204,508 shares of company stock valued at $802,654,666 in the last ninety days. Insiders own 12.93% of the company’s stock.

Institutional Trading of Palantir Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the company. Northwest Investment Counselors LLC acquired a new stake in shares of Palantir Technologies during the third quarter worth about $25,000. Summit Securities Group LLC acquired a new stake in shares of Palantir Technologies during the second quarter worth about $25,000. Farmers & Merchants Investments Inc. acquired a new position in Palantir Technologies in the 2nd quarter valued at about $25,000. Creekmur Asset Management LLC increased its position in Palantir Technologies by 46.0% in the 3rd quarter. Creekmur Asset Management LLC now owns 1,063 shares of the company’s stock valued at $40,000 after acquiring an additional 335 shares during the period. Finally, University of Texas Texas AM Investment Management Co. acquired a new position in Palantir Technologies in the 2nd quarter valued at about $30,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Company Profile

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.