Palantir Technologies (NASDAQ:PLTR) Price Target Raised to $98.00

Palantir Technologies (NASDAQ:PLTR) had its price objective upped by Morgan Stanley from $90.00 to $98.00 in a research note published on Tuesday,Benzinga reports. They currently have an equal weight rating on the stock.

Several other research firms have also recently issued reports on PLTR. DA Davidson lowered their price objective on Palantir Technologies from $105.00 to $100.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Daiwa America raised Palantir Technologies to a “hold” rating in a report on Tuesday, April 1st. Robert W. Baird increased their price objective on Palantir Technologies from $70.00 to $100.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Bank of America upped their target price on shares of Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, February 4th. Finally, Royal Bank of Canada reiterated an “underperform” rating and issued a $40.00 price target on shares of Palantir Technologies in a research note on Tuesday, April 29th. Five investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $83.95.

Palantir Technologies Stock Up 8.0 %

PLTR stock opened at $119.32 on Tuesday. The business has a 50 day moving average of $93.57 and a 200 day moving average of $81.48. The firm has a market cap 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 twelve month low of $20.50 and a twelve month high of $125.41.

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

Insider Buying and Selling at Palantir Technologies

In related news, insider Heather A. Planishek sold 13,891 shares of Palantir Technologies 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 transaction, the insider now owns 512,006 shares in the company, valued at approximately $59,372,215.76. The trade was a 2.64 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Alexandra W. Schiff sold 6,776 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $86.63, for a total value of $587,004.88. Following the completion of the sale, the director now owns 184,617 shares of the company’s stock, valued at $15,993,370.71. The trade was a 3.54 % 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 90 days. 12.93% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PLTR. Mather Group LLC. lifted its holdings in shares of Palantir Technologies by 101.4% in the fourth quarter. Mather Group LLC. now owns 890 shares of the company’s stock worth $67,000 after buying an additional 448 shares in the last quarter. Diversify Wealth Management LLC purchased a new stake in Palantir Technologies in the 4th quarter worth $876,000. Destiny Wealth Partners LLC bought a new position in shares of Palantir Technologies during the 4th quarter valued at about $3,233,000. Kieckhefer Group LLC purchased a new position in shares of Palantir Technologies during the fourth quarter valued at about $11,769,000. Finally, Grange Capital LLC bought a new stake in shares of Palantir Technologies in the fourth quarter worth about $5,829,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

About Palantir Technologies

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.