Loop Capital Increases Palantir Technologies (NASDAQ:PLTR) Price Target to $155.00

Palantir Technologies (NASDAQ:PLTR) had its price objective lifted by Loop Capital from $130.00 to $155.00 in a report published on Thursday,Benzinga reports. Loop Capital currently has a buy rating on the stock.

PLTR has been the subject of several other research reports. DA Davidson increased their target price on shares of Palantir Technologies from $100.00 to $115.00 and gave the company a “neutral” rating in a report on Tuesday, May 6th. UBS Group upped their price objective on shares of Palantir Technologies from $105.00 to $110.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 6th. The Goldman Sachs Group lifted their target price on shares of Palantir Technologies from $80.00 to $90.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 6th. Daiwa Capital Markets started coverage on Palantir Technologies in a research note on Tuesday, April 1st. They issued a “neutral” rating and a $90.00 target price on the stock. Finally, Royal Bank of Canada reaffirmed an “underperform” rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Five analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Palantir Technologies currently has a consensus rating of “Hold” and a consensus target price of $86.30.

Palantir Technologies Stock Performance

PLTR stock opened at $137.40 on Thursday. The business has a 50-day simple moving average of $115.48 and a two-hundred day simple moving average of $94.81. The company has a market capitalization of $324.25 billion, a P/E ratio of 723.20, a price-to-earnings-growth ratio of 10.84 and a beta of 2.64. Palantir Technologies has a 52-week low of $21.23 and a 52-week high of $140.00.

Palantir Technologies (NASDAQ:PLTR) last announced its earnings results on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.13. The company had revenue of $883.86 million for the quarter, compared to analysts’ expectations of $863.89 million. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. Palantir Technologies’s quarterly revenue was up 39.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.08 earnings per share. As a group, sell-side analysts forecast that Palantir Technologies will post 0.31 earnings per share for the current fiscal year.

Insider Activity at Palantir Technologies

In related news, insider Shyam Sankar sold 405,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $132.08, for a total transaction of $53,492,400.00. Following the completion of the transaction, the insider now owns 702,786 shares of the company’s stock, valued at approximately $92,823,974.88. The trade was a 36.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Stephen Andrew Cohen sold 310,000 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $87.07, for a total transaction of $26,991,700.00. Following the completion of the sale, the insider now owns 592 shares in the company, valued at $51,545.44. This represents a 99.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,816,925 shares of company stock worth $215,448,358. 9.23% of the stock is owned by company insiders.

Hedge Funds Weigh In On Palantir Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tallon Kerry Patrick purchased a new position in shares of Palantir Technologies during the fourth quarter worth about $289,000. Union Bancaire Privee UBP SA purchased a new position in Palantir Technologies in the 4th quarter worth approximately $15,177,000. Revolve Wealth Partners LLC purchased a new stake in shares of Palantir Technologies during the 4th quarter valued at $450,000. Savant Capital LLC raised its position in shares of Palantir Technologies by 87.0% during the 4th quarter. Savant Capital LLC now owns 19,722 shares of the company’s stock valued at $1,492,000 after buying an additional 9,173 shares in the last quarter. Finally, Focus Financial Network Inc. lifted its holdings in shares of Palantir Technologies by 22.1% during the 4th quarter. Focus Financial Network Inc. now owns 8,793 shares of the company’s stock worth $665,000 after acquiring an additional 1,590 shares during the last quarter. 45.65% of the stock is currently 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.