Northland Securities Issues Positive Forecast for Palantir Technologies (NYSE:PLTR) Stock Price

Palantir Technologies (NYSE:PLTR) had its price target increased by stock analysts at Northland Securities from $35.00 to $38.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “market perform” rating on the stock. Northland Securities’ price objective would indicate a potential downside of 24.83% from the company’s previous close.

Other equities analysts have also recently issued reports about the stock. DA Davidson raised their price objective on shares of Palantir Technologies from $24.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, August 6th. The Goldman Sachs Group lifted their target price on shares of Palantir Technologies from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Jefferies Financial Group boosted their target price on shares of Palantir Technologies from $24.00 to $28.00 and gave the company a “hold” rating in a research report on Monday, July 29th. Raymond James lowered shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. Finally, Citigroup upped their price objective on shares of Palantir Technologies from $25.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Five analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $28.57.

Palantir Technologies Trading Up 22.1 %

NYSE PLTR traded up $9.14 during trading hours on Tuesday, reaching $50.55. The company’s stock had a trading volume of 155,901,438 shares, compared to its average volume of 56,635,648. Palantir Technologies has a 52 week low of $15.66 and a 52 week high of $51.19. The stock has a market cap of $113.20 billion, a PE ratio of 297.37 and a beta of 2.70. The business has a 50-day simple moving average of $38.19 and a 200 day simple moving average of $29.75.

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

Insiders Place Their Bets

In related news, insider Heather A. Planishek sold 20,000 shares of Palantir Technologies stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $30.24, for a total value of $604,800.00. Following the completion of the sale, the insider now directly owns 612,006 shares in the company, valued at $18,507,061.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Heather A. Planishek sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $30.24, for a total value of $604,800.00. Following the sale, the insider now owns 612,006 shares in the company, valued at $18,507,061.44. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ryan D. Taylor sold 249,684 shares of the stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $30.01, for a total value of $7,493,016.84. Following the transaction, the insider now directly owns 372,565 shares in the company, valued at approximately $11,180,675.65. The trade was 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 over the last three months. 12.93% of the stock is owned by company insiders.

Hedge Funds Weigh In On Palantir Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Walter & Keenan Wealth Management LLC IN ADV lifted its stake in Palantir Technologies by 1.2% in the 3rd quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 19,587 shares of the company’s stock valued at $729,000 after purchasing an additional 235 shares during the last quarter. Greater Midwest Financial Group LLC lifted its stake in Palantir Technologies by 0.3% in the 3rd quarter. Greater Midwest Financial Group LLC now owns 87,392 shares of the company’s stock valued at $3,251,000 after purchasing an additional 250 shares during the last quarter. Quantum Private Wealth LLC lifted its position in Palantir Technologies by 1.1% during the third quarter. Quantum Private Wealth LLC now owns 23,257 shares of the company’s stock worth $865,000 after acquiring an additional 250 shares during the last quarter. LCM Capital Management Inc lifted its position in Palantir Technologies by 0.9% during the third quarter. LCM Capital Management Inc now owns 32,455 shares of the company’s stock worth $1,207,000 after acquiring an additional 300 shares during the last quarter. Finally, Acorn Financial Advisory Services Inc. ADV lifted its position in Palantir Technologies by 0.6% during the third quarter. Acorn Financial Advisory Services Inc. ADV now owns 48,347 shares of the company’s stock worth $1,799,000 after acquiring an additional 300 shares during the last quarter. 45.65% of the stock is owned by institutional investors.

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.