Palantir Technologies (NASDAQ:PLTR) Stock Price Up 2.8% Following Analyst Upgrade

Palantir Technologies Inc. (NASDAQ:PLTR) traded up 2.8% during trading on Thursday after DA Davidson upgraded the stock from a neutral rating to a buy rating. DA Davidson now has a $175.00 price target on the stock, up from their previous price target of $165.00. Palantir Technologies traded as high as $132.88 and last traded at $129.30. Approximately 60,006,617 shares changed hands during trading, an increase of 26% from the average daily volume of 47,682,523 shares. The stock had previously closed at $125.73.

Several other analysts have also issued reports on PLTR. DZ Bank assumed coverage on shares of Palantir Technologies in a research report on Thursday, April 23rd. They set a “buy” rating and a $175.00 target price for the company. BTIG Research downgraded shares of Palantir Technologies to a “neutral” rating in a research report on Tuesday, June 16th. Wedbush began coverage on shares of Palantir Technologies in a research note on Tuesday, June 16th. They set an “outperform” rating on the stock. Argus raised shares of Palantir Technologies from a “hold” rating to a “buy” rating and set a $190.00 price objective for the company in a research report on Wednesday, May 6th. Finally, Weiss Ratings lowered Palantir Technologies from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, April 27th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Palantir Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $190.85.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Jeffrey Buckley sold 1,481 shares of Palantir Technologies stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $128.80, for a total transaction of $190,752.80. Following the transaction, the insider owned 60,226 shares of the company’s stock, valued at $7,757,108.80. The trade was a 2.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Shyam Sankar sold 165,514 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total transaction of $22,516,524.56. Following the completion of the transaction, the insider owned 642,786 shares of the company’s stock, valued at approximately $87,444,607.44. The trade was a 20.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 927,270 shares of company stock worth $126,197,785 in the last 90 days. Insiders own 9.53% of the company’s stock.

Key Headlines Impacting Palantir Technologies

Here are the key news stories impacting Palantir Technologies this week:

• Positive Sentiment: D.A. Davidson upgraded Palantir Technologies (PLTR) to Buy and raised its price target to $175, citing stronger appeal as an enterprise AI orchestration platform. Article Title
• Positive Sentiment: The new Nvidia partnership for sovereign AI is boosting confidence that Palantir can win more government and enterprise contracts in secure AI. Article Title
• Positive Sentiment: Analysts highlighted accelerating growth, improving profitability, and a surging Rule of 40 score, suggesting Palantir’s execution is strengthening. Article Title
• Neutral Sentiment: Multiple articles framed Palantir as a high-growth but still expensive stock, keeping valuation debate front and center. Article Title

Institutional Investors Weigh In On Palantir Technologies

Institutional investors have recently bought and sold shares of the business. Norges Bank purchased a new position in shares of Palantir Technologies in the fourth quarter valued at about $5,149,641,000. Jennison Associates LLC bought a new position in shares of Palantir Technologies in the first quarter worth about $1,574,111,000. Arrowstreet Capital Limited Partnership grew its position in shares of Palantir Technologies by 277.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 10,446,959 shares of the company’s stock worth $1,528,143,000 after purchasing an additional 7,678,747 shares in the last quarter. State Street Corp grew its position in shares of Palantir Technologies by 7.2% during the third quarter. State Street Corp now owns 101,258,899 shares of the company’s stock worth $18,471,648,000 after purchasing an additional 6,777,771 shares in the last quarter. Finally, Cardano Risk Management B.V. raised its stake in Palantir Technologies by 917.4% during the 4th quarter. Cardano Risk Management B.V. now owns 6,585,630 shares of the company’s stock valued at $1,170,596,000 after purchasing an additional 5,938,343 shares during the period. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies Trading Up 2.8%

The firm has a 50 day moving average of $134.42 and a 200-day moving average of $148.82. The company has a market cap of $309.97 billion, a P/E ratio of 145.28, a P/E/G ratio of 1.88 and a beta of 1.57.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings results on Monday, May 4th. The company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.05. Palantir Technologies had a return on equity of 28.34% and a net margin of 43.67%.The business had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same period in the prior year, the company posted $0.13 EPS. The firm’s revenue for the quarter was up 84.7% compared to the same quarter last year. Equities analysts predict that Palantir Technologies Inc. will post 1.16 EPS for the current fiscal year.

About Palantir Technologies

Palantir Technologies is a software company that develops data integration, analytics and operational decision-making platforms for government and commercial customers. Founded in 2003 by a team that included Alex Karp and Peter Thiel, Palantir has grown into a provider of enterprise-scale software designed to help organizations integrate disparate data sources, build analytic models and drive operational workflows. The company went public in 2020 and continues to position its products around large, complex data projects where security, provenance and real-time collaboration are important.

Palantir’s product portfolio centers on a small number of core platforms.