Palantir Technologies (NASDAQ:PLTR) Given New $125.00 Price Target at Bank of America

Palantir Technologies (NASDAQ:PLTR) had its target price raised by Bank of America from $90.00 to $125.00 in a research report released on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities analysts also recently issued reports about the company. William Blair reaffirmed an “underperform” rating on shares of Palantir Technologies in a research note on Wednesday, December 18th. UBS Group initiated coverage on Palantir Technologies in a research report on Thursday, December 19th. They issued a “neutral” rating and a $80.00 price target for the company. Jefferies Financial Group lowered shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price objective on the stock. in a research report on Thursday, November 7th. DA Davidson raised their target price on shares of Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Finally, Robert W. Baird upped their price target on shares of Palantir Technologies from $70.00 to $100.00 and gave the company a “neutral” rating in a report on Tuesday. Six research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Palantir Technologies has a consensus rating of “Hold” and an average target price of $64.89.

Palantir Technologies Stock Performance

Shares of NASDAQ PLTR opened at $103.83 on Tuesday. Palantir Technologies has a one year low of $16.48 and a one year high of $106.91. The firm has a market capitalization of $236.53 billion, a P/E ratio of 519.18, a PEG ratio of 7.54 and a beta of 2.81. The company’s fifty day moving average is $74.09 and its two-hundred day moving average is $51.39.

Palantir Technologies (NASDAQ:PLTR) last issued its earnings results on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.01. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The company had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. During the same period in the prior year, the business posted $0.03 earnings per share. The firm’s revenue for the quarter was up 30.0% compared to the same quarter last year. On average, sell-side analysts forecast that Palantir Technologies will post 0.19 earnings per share for the current fiscal year.

Insider Transactions at Palantir Technologies

In other news, Director Alexandra W. Schiff sold 4,000 shares of the stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total value of $286,520.00. Following the completion of the sale, the director now owns 195,393 shares of the company’s stock, valued at $13,996,000.59. This represents a 2.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Shyam Sankar sold 5,250,000 shares of Palantir Technologies stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $70.08, for a total transaction of $367,920,000.00. Following the transaction, the insider now owns 752,786 shares in the company, valued at $52,755,242.88. The trade was a 87.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,153,753 shares of company stock worth $1,287,042,675 in the last ninety days. Insiders own 12.93% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. raised its holdings in shares of Palantir Technologies by 60.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock valued at $460,798,000 after buying an additional 4,667,955 shares during the period. Diversify Wealth Management LLC acquired a new stake in Palantir Technologies in the fourth quarter valued at approximately $876,000. Destiny Wealth Partners LLC purchased a new stake in shares of Palantir Technologies during the fourth quarter valued at approximately $3,233,000. State of Alaska Department of Revenue lifted its position in shares of Palantir Technologies by 22.9% during the third quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company’s stock worth $13,786,000 after purchasing an additional 68,945 shares in the last quarter. Finally, Oppenheimer & Co. Inc. boosted its stake in shares of Palantir Technologies by 19.2% in the third quarter. Oppenheimer & Co. Inc. now owns 541,567 shares of the company’s stock valued at $20,146,000 after purchasing an additional 87,062 shares during the period. 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.