Palantir Technologies (NASDAQ:PLTR) Now Covered by Analysts at Cantor Fitzgerald

Cantor Fitzgerald began coverage on shares of Palantir Technologies (NASDAQ:PLTR) in a report issued on Friday morning, MarketBeat Ratings reports. The brokerage issued a neutral rating and a $72.00 target price on the stock.

A number of other research analysts have also issued reports on PLTR. Jefferies Financial Group lowered shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price target on the stock. in a research note on Thursday, November 7th. Bank of America boosted their target price on Palantir Technologies from $55.00 to $75.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Northland Securities raised their price target on Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a report on Tuesday, November 5th. DA Davidson upped their price objective on Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Finally, Mizuho raised their target price on Palantir Technologies from $37.00 to $44.00 and gave the company an “underperform” rating in a report on Friday, December 13th. Seven equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $43.78.

Palantir Technologies Trading Up 3.7 %

Palantir Technologies stock opened at $71.77 on Friday. The stock has a 50 day moving average of $70.22 and a two-hundred day moving average of $46.85. Palantir Technologies has a twelve month low of $16.03 and a twelve month high of $84.80. The stock has a market capitalization of $163.49 billion, a price-to-earnings ratio of 358.87, a PEG ratio of 6.24 and a beta of 2.82.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings results 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. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The firm had revenue of $725.52 million during the quarter, compared to the consensus estimate of $705.11 million. During the same period last year, the company earned $0.03 earnings per share. The company’s revenue for the quarter was up 30.0% on a year-over-year basis. Equities analysts predict that Palantir Technologies will post 0.2 earnings per share for the current year.

Insider Buying and Selling

In other Palantir Technologies news, insider Alexander C. Karp sold 3,337,048 shares of the firm’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $45.02, for a total transaction of $150,233,900.96. Following the sale, the insider now directly owns 6,432,258 shares of the company’s stock, valued at $289,580,255.16. This trade represents a 34.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lauren Elaina Friedman Stat sold 8,054 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $50.49, for a total transaction of $406,646.46. Following the completion of the transaction, the director now directly owns 130,250 shares of the company’s stock, valued at approximately $6,576,322.50. This represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,642,189 shares of company stock worth $1,444,232,453 in the last ninety days. Insiders own 12.93% of the company’s stock.

Institutional Trading of Palantir Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp boosted its holdings in shares of 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 last quarter. Geode Capital Management LLC lifted its position in Palantir Technologies by 52.9% during the third quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock worth $1,777,568,000 after buying an additional 16,598,253 shares during the period. International Assets Investment Management LLC lifted its position in Palantir Technologies by 3,476.2% during the third quarter. International Assets Investment Management LLC now owns 6,832,301 shares of the company’s stock worth $254,162,000 after buying an additional 6,641,253 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Palantir Technologies by 60.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock worth $460,798,000 after buying an additional 4,667,955 shares during the last quarter. Finally, Marshall Wace LLP grew its holdings in Palantir Technologies by 594.3% in the 2nd quarter. Marshall Wace LLP now owns 3,550,176 shares of the company’s stock valued at $89,926,000 after buying an additional 3,038,861 shares during the period. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Company Profile

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.