Palantir Technologies (NYSE:PLTR) Price Target Raised to $45.00

Palantir Technologies (NYSE:PLTR) had its price target hoisted by Wedbush from $38.00 to $45.00 in a research report sent to investors on Thursday, Benzinga reports. The brokerage currently has an outperform rating on the stock.

PLTR has been the subject of several other research reports. DA Davidson increased their target price on Palantir Technologies from $24.00 to $28.00 and gave the stock a neutral rating in a research report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Palantir Technologies from $20.00 to $21.00 and gave the company a sell rating in a report on Tuesday, August 6th. Bank of America boosted their target price on shares of Palantir Technologies from $30.00 to $50.00 and gave the stock a buy rating in a report on Tuesday, September 10th. Citigroup raised their target price on shares of Palantir Technologies from $25.00 to $28.00 and gave the company a neutral rating in a research note on Tuesday, July 30th. Finally, The Goldman Sachs Group boosted their price target on shares of Palantir Technologies from $14.00 to $16.00 and gave the stock a neutral rating in a research note on Wednesday, August 7th. Five investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Palantir Technologies currently has a consensus rating of Hold and a consensus price target of $27.29.

Palantir Technologies Price Performance

Shares of NYSE:PLTR opened at $36.84 on Thursday. The company has a market capitalization of $82.50 billion, a P/E ratio of 307.03 and a beta of 2.72. Palantir Technologies has a 1-year low of $14.48 and a 1-year high of $38.19. The firm’s 50 day simple moving average is $31.43 and its two-hundred day simple moving average is $26.32.

Palantir Technologies (NYSE:PLTR) last released its earnings results on Monday, August 5th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. The firm had revenue of $678.13 million for the quarter, compared to analysts’ expectations of $653.23 million. During the same quarter last year, the firm posted $0.01 EPS. The firm’s quarterly revenue was up 27.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Palantir Technologies will post 0.19 earnings per share for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In other news, Director Lauren Elaina Friedman Stat sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $28.97, for a total transaction of $57,940.00. Following the transaction, the director now owns 69,039 shares of the company’s stock, valued at approximately $2,000,059.83. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Lauren Elaina Friedman Stat sold 2,000 shares of the firm’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $28.97, for a total value of $57,940.00. Following the completion of the sale, the director now owns 69,039 shares in the company, valued at approximately $2,000,059.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Peter Thiel sold 4,254,666 shares of the stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $36.77, for a total transaction of $156,444,068.82. Following the completion of the sale, the director now directly owns 51,234,275 shares in the company, valued at $1,883,884,291.75. The disclosure for this sale can be found here. Insiders have sold a total of 9,644,559 shares of company stock worth $346,929,762 over the last ninety days. Company insiders own 12.93% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

Several hedge funds have recently bought and sold shares of PLTR. Vantage Financial Partners LLC grew its holdings in shares of Palantir Technologies by 20.2% in the fourth quarter. Vantage Financial Partners LLC now owns 60,124 shares of the company’s stock worth $1,032,000 after purchasing an additional 10,124 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Palantir Technologies by 9.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,567,409 shares of the company’s stock worth $44,091,000 after acquiring an additional 228,428 shares during the period. Norges Bank bought a new stake in shares of Palantir Technologies during the fourth quarter valued at approximately $46,542,000. PNC Financial Services Group Inc. boosted its holdings in shares of Palantir Technologies by 11.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 57,069 shares of the company’s stock valued at $980,000 after purchasing an additional 5,759 shares during the period. Finally, Corient Private Wealth LLC grew its stake in Palantir Technologies by 7.6% in the fourth quarter. Corient Private Wealth LLC now owns 160,088 shares of the company’s stock worth $2,749,000 after purchasing an additional 11,284 shares in the last quarter. Institutional investors 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.