The Goldman Sachs Group Increases Palantir Technologies (NYSE:PLTR) Price Target to $41.00

Palantir Technologies (NYSE:PLTR) had its price objective increased by investment analysts at The Goldman Sachs Group from $16.00 to $41.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target would suggest a potential downside of 24.09% from the stock’s previous close.

PLTR has been the subject of several other reports. Jefferies Financial Group lowered Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price objective for the company. in a research note on Thursday. Wedbush lifted their target price on Palantir Technologies from $38.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, September 26th. Argus cut Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday. Northland Securities increased their price objective on shares of Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a report on Tuesday. Finally, Royal Bank of Canada restated an “underperform” rating and set a $9.00 target price on shares of Palantir Technologies in a research report on Tuesday, August 6th. Six research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Palantir Technologies has a consensus rating of “Hold” and a consensus target price of $31.71.

Palantir Technologies Stock Performance

Shares of PLTR traded down $1.52 during mid-day trading on Thursday, hitting $54.01. 71,052,094 shares of the company traded hands, compared to its average volume of 57,214,371. Palantir Technologies has a 1 year low of $15.66 and a 1 year high of $56.47. The stock has a market cap of $120.95 billion, a price-to-earnings ratio of 271.40 and a beta of 2.70. The stock has a 50-day moving average price of $38.60 and a two-hundred day moving average price of $29.97.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 10.41% and a net margin of 18.01%. The company’s revenue for the quarter was up 30.0% on a year-over-year basis. During the same period last year, the business posted $0.03 EPS. On average, analysts forecast that Palantir Technologies will post 0.19 EPS for the current year.

Insider Activity

In other Palantir Technologies news, insider Shyam Sankar sold 50,000 shares of the stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $32.35, for a total value of $1,617,500.00. Following the sale, the insider now owns 752,786 shares of the company’s stock, valued at $24,352,627.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Shyam Sankar sold 50,000 shares of Palantir Technologies stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $32.35, for a total transaction of $1,617,500.00. Following the sale, the insider now owns 752,786 shares in the company, valued at approximately $24,352,627.10. 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 Ryan D. Taylor sold 249,684 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $30.01, for a total transaction of $7,493,016.84. Following the transaction, the insider now owns 372,565 shares in the company, valued at approximately $11,180,675.65. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,204,508 shares of company stock valued at $802,654,666. Company insiders own 12.93% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Walter & Keenan Wealth Management LLC IN ADV raised its position in shares of Palantir Technologies by 1.2% in the third quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 19,587 shares of the company’s stock valued at $729,000 after buying an additional 235 shares during the last quarter. Greater Midwest Financial Group LLC raised its stake in shares of 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 acquiring an additional 250 shares during the period. Quantum Private Wealth LLC lifted its stake in shares of 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 purchasing an additional 250 shares in the last quarter. LCM Capital Management Inc lifted its position in shares of 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 purchasing an additional 300 shares in the last quarter. Finally, Acorn Financial Advisory Services Inc. ADV lifted its stake in shares of Palantir Technologies by 0.6% in 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 in the last quarter. 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.