Palantir Technologies (NYSE:PLTR) Given New $75.00 Price Target at Wedbush

Palantir Technologies (NYSE:PLTR) had its price objective lifted by equities researchers at Wedbush from $57.00 to $75.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Wedbush’s price target would suggest a potential upside of 16.55% from the stock’s previous close.

PLTR has been the topic of several other research reports. Jefferies Financial Group downgraded shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 target price on the stock. in a report on Thursday, November 7th. Northland Capmk upgraded shares of Palantir Technologies to a “hold” rating in a report on Thursday, August 22nd. DA Davidson boosted their price objective on shares of Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. The Goldman Sachs Group boosted their price objective on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Finally, Raymond James downgraded shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. Six investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $35.64.

Palantir Technologies Price Performance

Shares of PLTR opened at $64.35 on Monday. The company has a market capitalization of $146.59 billion, a PE ratio of 321.77 and a beta of 2.70. Palantir Technologies has a one year low of $15.66 and a one year high of $66.00. The company’s fifty day moving average price is $45.94 and its 200 day moving average price is $33.48.

Palantir Technologies (NYSE:PLTR) last announced its earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.09 by $0.01. The firm had revenue of $725.52 million for the quarter, compared to the consensus estimate of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The business’s quarterly revenue was up 30.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.03 EPS. Analysts anticipate that Palantir Technologies will post 0.21 earnings per share for the current year.

Insider Buying and Selling at Palantir Technologies

In other news, insider Alexander C. Karp sold 1,620,395 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $63.21, for a total transaction of $102,425,167.95. Following the transaction, the insider now directly owns 6,432,258 shares in the company, valued at approximately $406,583,028.18. This represents a 20.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lauren Elaina Friedman Stat sold 8,860 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $58.06, for a total transaction of $514,411.60. Following the transaction, the director now owns 121,390 shares in the company, valued at $7,047,903.40. The trade was a 6.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,167,451 shares of company stock worth $1,603,067,889 over the last ninety days. Corporate insiders own 12.93% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

Large investors have recently modified their holdings of the stock. Advisors Asset Management Inc. raised its stake in shares of Palantir Technologies by 87.8% during the first quarter. Advisors Asset Management Inc. now owns 13,742 shares of the company’s stock worth $316,000 after buying an additional 6,426 shares during the last quarter. BOKF NA raised its stake in shares of Palantir Technologies by 394.4% during the first quarter. BOKF NA now owns 30,039 shares of the company’s stock worth $687,000 after buying an additional 23,963 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Palantir Technologies by 31.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,877,457 shares of the company’s stock worth $135,241,000 after buying an additional 1,413,417 shares during the last quarter. SVB Wealth LLC raised its stake in shares of Palantir Technologies by 32.6% during the first quarter. SVB Wealth LLC now owns 29,874 shares of the company’s stock worth $687,000 after buying an additional 7,352 shares during the last quarter. Finally, Silvercrest Asset Management Group LLC raised its stake in shares of Palantir Technologies by 15.4% during the first quarter. Silvercrest Asset Management Group LLC now owns 15,019 shares of the company’s stock worth $346,000 after buying an additional 2,000 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

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.