Cantor Fitzgerald Boosts Palantir Technologies (NASDAQ:PLTR) Price Target to $110.00

Palantir Technologies (NASDAQ:PLTR) had its target price increased by investment analysts at Cantor Fitzgerald from $98.00 to $110.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Cantor Fitzgerald’s target price indicates a potential downside of 11.13% from the stock’s previous close.

Several other brokerages have also issued reports on PLTR. Daiwa America raised Palantir Technologies to a “hold” rating in a research report on Tuesday, April 1st. Wedbush restated an “outperform” rating and issued a $120.00 target price on shares of Palantir Technologies in a research note on Monday, March 3rd. Royal Bank of Canada restated an “underperform” rating and set a $40.00 target price on shares of Palantir Technologies in a research report on Tuesday, April 29th. Morgan Stanley decreased their price target on shares of Palantir Technologies from $95.00 to $90.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 16th. Finally, William Blair set a $84.00 price target on Palantir Technologies in a research note on Wednesday, March 5th. Five investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $75.95.

Palantir Technologies Price Performance

PLTR stock opened at $123.77 on Tuesday. The business has a 50-day moving average of $91.86 and a 200-day moving average of $80.55. The stock has a market capitalization of $290.28 billion, a P/E ratio of 651.46, a P/E/G ratio of 10.84 and a beta of 2.68. Palantir Technologies has a fifty-two week low of $20.50 and a fifty-two week high of $125.41.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, meeting the consensus estimate of $0.13. The company had revenue of $883.86 million for the quarter, compared to analyst estimates of $863.89 million. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. The company’s revenue was up 39.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.08 earnings per share. Equities analysts expect that Palantir Technologies will post 0.31 EPS for the current year.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider Shyam Sankar sold 30,000 shares of the company’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $92.43, for a total value of $2,772,900.00. Following the sale, the insider now directly owns 702,786 shares of the company’s stock, valued at approximately $64,958,509.98. This represents a 4.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Heather A. Planishek sold 13,891 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $115.96, for a total value of $1,610,800.36. Following the completion of the sale, the insider now directly owns 512,006 shares in the company, valued at approximately $59,372,215.76. The trade was a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,978,181 shares of company stock valued at $252,115,667. Insiders own 12.93% of the company’s stock.

Institutional Investors Weigh In On Palantir Technologies

Several large investors have recently modified their holdings of PLTR. Geode Capital Management LLC grew its holdings in shares of Palantir Technologies by 8.6% in the 4th quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company’s stock worth $3,929,401,000 after acquiring an additional 4,127,306 shares during the period. Northern Trust Corp boosted its stake in Palantir Technologies by 20.4% in the 4th quarter. Northern Trust Corp now owns 19,488,465 shares of the company’s stock worth $1,473,913,000 after buying an additional 3,299,779 shares during the last quarter. Norges Bank purchased a new stake in shares of Palantir Technologies during the 4th quarter valued at $1,360,191,000. FMR LLC increased its position in Palantir Technologies by 22.6% during the 4th quarter. FMR LLC now owns 15,296,371 shares of the company’s stock worth $1,156,864,000 after purchasing an additional 2,818,090 shares in the last quarter. Finally, Invesco Ltd. raised its stake in shares of Palantir Technologies by 31.2% in the 4th quarter. Invesco Ltd. now owns 14,748,240 shares of the company’s stock valued at $1,115,409,000 after acquiring an additional 3,509,311 shares during the period. 45.65% of the stock is owned by institutional investors and hedge funds.

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.