Palantir Technologies (NASDAQ:PLTR) Price Target Raised to $94.00

Palantir Technologies (NASDAQ:PLTR) had its price target upped by Mizuho from $80.00 to $94.00 in a research note published on Tuesday, MarketBeat reports. They currently have an underperform rating on the stock.

PLTR has been the subject of several other research reports. Deutsche Bank Aktiengesellschaft reissued a “sell” rating on shares of Palantir Technologies in a research note on Tuesday. William Blair set a $84.00 target price on shares of Palantir Technologies in a research report on Wednesday, March 5th. Daiwa Capital Markets started coverage on shares of Palantir Technologies in a research report on Tuesday, April 1st. They set a “neutral” rating and a $90.00 price target for the company. Loop Capital restated a “buy” rating on shares of Palantir Technologies in a report on Friday, April 4th. Finally, UBS Group lifted their target price on shares of Palantir Technologies from $80.00 to $105.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Five analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Palantir Technologies has a consensus rating of “Hold” and a consensus price target of $83.95.

Palantir Technologies Stock Up 8.0 %

Shares of PLTR opened at $119.32 on Tuesday. The stock has a fifty day simple moving average of $93.57 and a two-hundred day simple moving average of $81.48. The company has a market capitalization of $279.85 billion, a PE ratio of 628.04, a price-to-earnings-growth ratio of 10.84 and a beta of 2.68. Palantir Technologies has a 52-week low of $20.50 and a 52-week high of $125.41.

Palantir Technologies (NASDAQ:PLTR) last issued its earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, hitting analysts’ consensus estimates of $0.13. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. The company had revenue of $883.86 million for the quarter, compared to the consensus estimate of $863.89 million. During the same period in the previous year, the firm earned $0.08 earnings per share. Palantir Technologies’s quarterly revenue was up 39.4% compared to the same quarter last year. As a group, equities analysts anticipate that Palantir Technologies will post 0.31 earnings per share for the current fiscal year.

Insider Activity at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 800 shares of the stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $81.25, for a total value of $65,000.00. Following the transaction, the director now directly owns 61,339 shares of the company’s stock, valued at $4,983,793.75. This trade represents a 1.29 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Heather A. Planishek sold 13,891 shares of the company’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $115.96, for a total transaction of $1,610,800.36. Following the completion of the transaction, the insider now owns 512,006 shares of the company’s stock, valued at $59,372,215.76. This represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,978,181 shares of company stock valued at $252,115,667 over the last quarter. 12.93% of the stock is owned by insiders.

Institutional Trading of Palantir Technologies

Institutional investors and hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC increased its holdings in shares of Palantir Technologies by 8.6% in the 4th quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company’s stock valued at $3,929,401,000 after acquiring an additional 4,127,306 shares during the period. Northern Trust Corp raised its holdings in shares of Palantir Technologies by 20.4% in the fourth quarter. Northern Trust Corp now owns 19,488,465 shares of the company’s stock valued at $1,473,913,000 after buying an additional 3,299,779 shares during the last quarter. Norges Bank acquired a new stake in shares of Palantir Technologies during the fourth quarter worth about $1,360,191,000. FMR LLC increased its position in Palantir Technologies by 22.6% in the 4th quarter. FMR LLC now owns 15,296,371 shares of the company’s stock valued at $1,156,864,000 after acquiring an additional 2,818,090 shares during the period. Finally, Invesco Ltd. lifted its holdings in shares of Palantir Technologies by 31.2% during the fourth quarter. Invesco Ltd. now owns 14,748,240 shares of the company’s stock worth $1,115,409,000 after purchasing an additional 3,509,311 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.