Palantir Technologies (NASDAQ:PLTR) Stock Rated Buy in New Coverage at Fubon

Fubon assumed coverage on shares of Palantir Technologies (NASDAQ:PLTR) in a research report released on Tuesday,FinViz reports. The firm issued a buy rating and a $200.00 price objective on the stock.

Several other research analysts have also recently commented on PLTR. Roth Capital began coverage on shares of Palantir Technologies in a report on Tuesday, August 4th. They set a “buy” rating for the company. KeyCorp reiterated a “sector weight” rating on shares of Palantir Technologies in a research note on Wednesday, November 4th. Deutsche Bank reiterated a “buy” rating and issued a $225.00 price target on shares of Palantir Technologies in a research note on Monday, October 26th. DA Davidson reissued a “buy” rating and set a $250.00 price target on shares of Palantir Technologies in a research report on Tuesday, November 3rd. Finally, Morgan Stanley increased their price objective on shares of Palantir Technologies from $205.00 to $233.00 and gave the stock a “buy” rating in a research note on Tuesday, November 3rd. One analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $216.20.

Palantir Technologies Stock Performance

Palantir Technologies stock traded down $3.59 during midday trading on Tuesday, reaching $167.99. The stock had a trading volume of 15,160,139 shares, compared to its average volume of 25,516,524. The stock has a market capitalization of $403.69 billion, a P/E ratio of 153.20, a price-to-earnings-growth ratio of 3.47 and a beta of 1.65. The firm’s fifty day simple moving average is $185.08 and its 200-day simple moving average is $153.81. Palantir Technologies has a 1-year low of $106.37 and a 1-year high of $212.94.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings results on Monday, November 2nd. The company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.03. The firm had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.18 billion. Palantir Technologies had a return on equity of 30.49% and a net margin of 50.34%. The business’s revenue was up 95.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.21 EPS. On average, sell-side analysts anticipate that Palantir Technologies will post 1.36 earnings per share for the current fiscal year.

Insider Activity at Palantir Technologies

In other news, insider Alexander Karp sold 492,348 shares of the stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $174.79, for a total value of $86,057,506.92. Following the completion of the sale, the insider owned 6,432,258 shares of the company’s stock, valued at approximately $1,124,294,375.82. This represents a 7.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Jeffrey Buckley sold 1,250 shares of the firm’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $174.29, for a total transaction of $217,862.50. Following the completion of the transaction, the insider directly owned 56,921 shares of the company’s stock, valued at $9,920,761.09. This represents a 2.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 523,716 shares of company stock worth $92,212,379. Insiders own 9.53% of the company’s stock.

Institutional Trading of Palantir Technologies

Large investors have recently added to or reduced their stakes in the company. Axiom Investment Management LLC lifted its position in shares of Palantir Technologies by 181.8% in the third quarter. Axiom Investment Management LLC now owns 155 shares of the company’s stock valued at $29,000 after buying an additional 100 shares during the last quarter. Navigoe LLC boosted its stake in shares of Palantir Technologies by 17,500.0% during the 3rd quarter. Navigoe LLC now owns 176 shares of the company’s stock worth $32,000 after acquiring an additional 175 shares during the period. Laurel Wealth Advisors LLC bought a new position in shares of Palantir Technologies during the 3rd quarter worth approximately $35,000. Cranbrook Wealth Management LLC increased its holdings in shares of Palantir Technologies by 40.7% during the 3rd quarter. Cranbrook Wealth Management LLC now owns 197 shares of the company’s stock worth $37,000 after acquiring an additional 57 shares during the last quarter. Finally, Ballast Advisors LLC acquired a new position in shares of Palantir Technologies during the 1st quarter worth approximately $29,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Key Palantir Technologies News

These are some of the PLTR news items that stood out recently:

• Positive Sentiment: Recent commentary argues Palantir’s growth story remains strong, with its AI software helping drive substantial business momentum. This provides a fundamental counterpoint to the stock’s recent weakness. Article: Palantir: High-Quality Growth Should Never Be Cheap
• Negative Sentiment: Investors are also focused on deceleration in contract-related growth indicators versus the previous quarter, which may raise questions about future demand. A planned sale of 84,680 shares by CTO Shyam Sankar—and another recent planned sale filing—could add to negative sentiment, though insider sales do not necessarily signal a lack of confidence. Article: Why Palantir Technologies Stock Is Down
• Negative Sentiment: ARK Invest reportedly trimmed its Palantir position while buying another AI-related stock. The move may reinforce concerns about investor rotation away from richly valued AI names, although it reflects one fund’s portfolio decision. Article: Cathie Wood Is Buying CoreWeave and Selling Palantir

Palantir Technologies Company Profile

Palantir Technologies is a software company that develops platforms for integrating, analyzing and using data to support operational decisions. Its products are designed to help organizations work with large, complex datasets while managing access and security. The company’s platforms include Gotham, used primarily by government and intelligence customers; Foundry, designed for commercial and other organizations; Apollo, which supports the deployment and management of software; and Artificial Intelligence Platform (AIP), which helps organizations use artificial intelligence with their data and operations.