Palantir Technologies (NYSE:PLTR) Given New $23.00 Price Target at HSBC

Palantir Technologies (NYSE:PLTR) had its target price increased by HSBC from $22.00 to $23.00 in a report published on Tuesday morning, Benzinga reports. HSBC currently has a hold rating on the stock.

Several other brokerages have also recently weighed in on PLTR. Citigroup raised Palantir Technologies from a sell rating to a neutral rating and increased their price target for the company from $10.00 to $20.00 in a research note on Tuesday, February 6th. Bank of America raised their price target on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a buy rating in a report on Wednesday, March 6th. Mizuho upped their price objective on shares of Palantir Technologies from $18.00 to $21.00 and gave the company a neutral rating in a research note on Thursday, March 7th. Wedbush reissued an outperform rating and set a $35.00 target price on shares of Palantir Technologies in a research note on Monday. Finally, Jefferies Financial Group raised shares of Palantir Technologies from an underperform rating to a hold rating and upped their price target for the company from $13.00 to $22.00 in a research report on Tuesday, February 6th. Five analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Palantir Technologies presently has a consensus rating of Hold and an average target price of $20.65.

Palantir Technologies Price Performance

NYSE:PLTR opened at $21.41 on Tuesday. Palantir Technologies has a one year low of $7.59 and a one year high of $27.50. The company has a market cap of $47.36 billion, a PE ratio of 237.86, a P/E/G ratio of 5.72 and a beta of 2.76. The firm’s 50 day simple moving average is $23.40 and its 200 day simple moving average is $20.31.

Palantir Technologies (NYSE:PLTR) last issued its quarterly earnings results on Monday, February 5th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The business had revenue of $608.35 million for the quarter, compared to analyst estimates of $603.48 million. Palantir Technologies had a return on equity of 6.17% and a net margin of 9.43%. Equities research analysts expect that Palantir Technologies will post 0.16 EPS for the current year.

Insider Buying and Selling

In other Palantir Technologies news, Director Alexander D. Moore sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $22.02, for a total transaction of $440,400.00. Following the completion of the sale, the director now directly owns 1,595,519 shares of the company’s stock, valued at approximately $35,133,328.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Peter Thiel sold 7,044,756 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $24.79, for a total transaction of $174,639,501.24. Following the transaction, the director now directly owns 70,806,432 shares of the company’s stock, valued at $1,755,291,449.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Alexander D. Moore sold 20,000 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $22.02, for a total transaction of $440,400.00. Following the completion of the sale, the director now directly owns 1,595,519 shares of the company’s stock, valued at $35,133,328.38. The disclosure for this sale can be found here. Insiders have sold 7,356,273 shares of company stock worth $182,143,602 in the last quarter. Insiders own 13.96% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

Several institutional investors have recently modified their holdings of PLTR. Truvestments Capital LLC boosted its position in Palantir Technologies by 74.9% in the third quarter. Truvestments Capital LLC now owns 1,635 shares of the company’s stock worth $26,000 after purchasing an additional 700 shares during the last quarter. First United Bank & Trust purchased a new position in shares of Palantir Technologies in the 4th quarter worth about $26,000. Pacifica Partners Inc. bought a new position in Palantir Technologies during the fourth quarter valued at about $27,000. West Paces Advisors Inc. increased its holdings in Palantir Technologies by 110.7% during the first quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock worth $27,000 after buying an additional 620 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its position in Palantir Technologies by 105.3% in the first quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock worth $31,000 after acquiring an additional 691 shares during the period. 45.65% of the stock is owned by institutional investors.

Palantir Technologies Company Profile

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.