Palantir Technologies (NASDAQ:PLTR) Price Target Raised to $80.00

Palantir Technologies (NASDAQ:PLTR) had its price target lifted by Mizuho from $44.00 to $80.00 in a research note published on Tuesday,Benzinga reports. The brokerage currently has an underperform rating on the stock.

A number of other brokerages also recently issued reports on PLTR. Cantor Fitzgerald assumed coverage on shares of Palantir Technologies in a report on Friday, January 17th. They set a “neutral” rating and a $72.00 price target on the stock. Bank of America raised their price target on shares of Palantir Technologies from $55.00 to $75.00 and gave the company a “buy” rating in a report on Monday, November 25th. DA Davidson raised their price target 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. The Goldman Sachs Group increased their price objective on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Finally, Robert W. Baird increased their price objective on shares of Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a research note on Tuesday. Six analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, Palantir Technologies has a consensus rating of “Hold” and an average price target of $69.44.

Palantir Technologies Stock Up 9.8 %

Shares of NASDAQ PLTR opened at $111.28 on Tuesday. The firm’s 50-day moving average price is $75.56 and its 200-day moving average price is $52.26. The company has a market cap of $253.50 billion, a PE ratio of 556.43, a PEG ratio of 7.54 and a beta of 2.81. Palantir Technologies has a 52-week low of $20.33 and a 52-week high of $111.55.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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% compared to the same quarter last year. During the same quarter last year, the firm posted $0.03 EPS. As a group, equities research analysts anticipate that Palantir Technologies will post 0.19 EPS for the current fiscal year.

Insider Activity

In other news, insider Alexander C. Karp sold 4,500,000 shares of Palantir Technologies stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $63.10, for a total transaction of $283,950,000.00. Following the sale, the insider now owns 6,432,258 shares in the company, valued at $405,875,479.80. This trade represents a 41.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Shyam Sankar sold 5,250,000 shares of Palantir Technologies stock in a transaction that occurred 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 sale, the insider now owns 752,786 shares in the company, valued at approximately $52,755,242.88. The trade was a 87.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,656,687 shares of company stock worth $1,040,105,687 over the last quarter. Insiders own 12.93% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Northwest Investment Counselors LLC purchased a new position in shares of Palantir Technologies in the third quarter valued at $25,000. Prestige Wealth Management Group LLC grew its holdings in shares of Palantir Technologies by 747.1% in the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after purchasing an additional 650 shares in the last quarter. Roxbury Financial LLC purchased a new position in shares of Palantir Technologies in the fourth quarter valued at $27,000. First PREMIER Bank purchased a new position in shares of Palantir Technologies in the fourth quarter valued at $28,000. Finally, Wolff Wiese Magana LLC grew its holdings in shares of Palantir Technologies by 230.4% in the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock valued at $29,000 after purchasing an additional 265 shares in the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Company Profile

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.