Palantir Technologies (NYSE:PLTR) Given New $47.00 Price Target at DA Davidson

Palantir Technologies (NYSE:PLTR) had its price objective boosted by DA Davidson from $28.00 to $47.00 in a report released on Tuesday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock. DA Davidson also issued estimates for Palantir Technologies’ Q4 2024 earnings at $0.07 EPS, FY2024 earnings at $0.21 EPS and FY2025 earnings at $0.29 EPS.

Other equities analysts have also issued reports about the stock. Mizuho increased their price target on shares of Palantir Technologies from $30.00 to $37.00 and gave the company an “underperform” rating in a research note on Tuesday. The Goldman Sachs Group boosted their price target on Palantir Technologies from $14.00 to $16.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Monness Crespi & Hardt cut their price objective on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating for the company in a research report on Tuesday, August 6th. Northland Securities increased their target price on Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a research note on Tuesday. Finally, Jefferies Financial Group increased their price target on shares of Palantir Technologies from $24.00 to $28.00 and gave the company a “hold” rating in a report on Monday, July 29th. Six research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $31.71.

Palantir Technologies Price Performance

PLTR opened at $55.87 on Tuesday. The business has a fifty day moving average price of $39.10 and a 200 day moving average price of $30.15. Palantir Technologies has a 12 month low of $15.66 and a 12 month high of $56.47. The stock has a market capitalization of $125.12 billion, a price-to-earnings ratio of 279.35 and a beta of 2.70.

Palantir Technologies (NYSE:PLTR) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The company 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 10.41%. The company’s quarterly revenue was up 30.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.03 EPS. On average, research analysts anticipate that Palantir Technologies will post 0.19 earnings per share for the current year.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Heather A. Planishek sold 20,000 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $30.24, for a total transaction of $604,800.00. Following the transaction, the insider now owns 612,006 shares of the company’s stock, valued at $18,507,061.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Palantir Technologies news, insider Heather A. Planishek sold 20,000 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $30.24, for a total transaction of $604,800.00. Following the transaction, the insider now owns 612,006 shares of the company’s stock, valued at $18,507,061.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 6,050 shares of Palantir Technologies stock in a transaction on Monday, September 9th. The shares were sold at an average price of $33.19, for a total value of $200,799.50. Following the completion of the transaction, the director now owns 158,280 shares in the company, valued at $5,253,313.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,482,878 shares of company stock valued at $1,044,202,496. 12.93% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Fifth Third Wealth Advisors LLC lifted its position in shares of Palantir Technologies by 166.5% during the third quarter. Fifth Third Wealth Advisors LLC now owns 21,941 shares of the company’s stock worth $816,000 after purchasing an additional 13,708 shares in the last quarter. Legacy Bridge LLC lifted its position in shares of Palantir Technologies by 0.7% during the third quarter. Legacy Bridge LLC now owns 56,880 shares of the company’s stock worth $2,116,000 after purchasing an additional 370 shares during the last quarter. Meeder Asset Management Inc. lifted its holdings in Palantir Technologies by 0.7% during the 3rd quarter. Meeder Asset Management Inc. now owns 44,099 shares of the company’s stock worth $1,640,000 after buying an additional 305 shares during the last quarter. Caprock Group LLC lifted its stake in Palantir Technologies by 5.1% during the third quarter. Caprock Group LLC now owns 175,743 shares of the company’s stock worth $6,538,000 after purchasing an additional 8,470 shares during the last quarter. Finally, Pathstone Holdings LLC boosted its holdings in shares of Palantir Technologies by 14.5% in the 3rd quarter. Pathstone Holdings LLC now owns 108,707 shares of the company’s stock valued at $4,044,000 after buying an additional 13,797 shares during the period. 45.65% of the stock is owned by hedge funds and other institutional investors.

About Palantir Technologies

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.