Palantir Technologies (NYSE:PLTR) Price Target Increased to $9.00 by Analysts at Royal Bank of Canada

Palantir Technologies (NYSE:PLTR) had its price target upped by Royal Bank of Canada from $5.00 to $9.00 in a research report report published on Tuesday, Benzinga reports. They currently have an underperform rating on the stock.

A number of other analysts also recently weighed in on the stock. Mizuho boosted their target price on shares of Palantir Technologies from $18.00 to $21.00 and gave the stock a neutral rating in a report on Thursday, March 7th. Deutsche Bank Aktiengesellschaft raised their price objective on Palantir Technologies from $18.00 to $20.00 and gave the company a sell rating in a research note on Tuesday. HSBC lowered Palantir Technologies from a buy rating to a hold rating and set a $22.00 price target on the stock. in a report on Wednesday, February 14th. Bank of America increased their target price on shares of Palantir Technologies from $24.00 to $28.00 and gave the company a buy rating in a research note on Wednesday, March 6th. Finally, Raymond James boosted their price objective on Palantir Technologies from $22.00 to $25.00 and gave the company an outperform rating in a report on Tuesday, February 6th. Five analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $20.65.

Palantir Technologies Trading Down 15.1 %

NYSE:PLTR opened at $21.41 on Tuesday. Palantir Technologies has a 12-month low of $7.59 and a 12-month high of $27.50. The stock has a market capitalization of $47.36 billion, a P/E ratio of 237.86, a P/E/G ratio of 5.72 and a beta of 2.76. The stock has a 50-day moving average price of $23.40 and a 200 day moving average price of $20.31.

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

Insiders Place Their Bets

In related news, Director Alexander D. Moore sold 20,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $22.02, for a total value of $440,400.00. Following the transaction, the director now directly owns 1,595,519 shares of the company’s stock, valued at approximately $35,133,328.38. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Palantir Technologies news, insider Shyam Sankar sold 29,168 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $25.00, for a total value of $729,200.00. Following the sale, the insider now directly owns 752,786 shares of the company’s stock, valued at $18,819,650. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Alexander D. Moore sold 20,000 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $22.02, for a total value of $440,400.00. Following the completion of the transaction, the director now directly owns 1,595,519 shares of the company’s stock, valued at approximately $35,133,328.38. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,356,273 shares of company stock valued at $182,143,602. Insiders own 13.96% of the company’s stock.

Institutional Investors Weigh In On Palantir Technologies

Several hedge funds have recently bought and sold shares of PLTR. Vanguard Group Inc. increased its holdings in Palantir Technologies by 11.1% in the third quarter. Vanguard Group Inc. now owns 187,338,667 shares of the company’s stock valued at $2,997,419,000 after buying an additional 18,756,392 shares in the last quarter. Morgan Stanley raised its holdings in Palantir Technologies by 26.1% in the 3rd quarter. Morgan Stanley now owns 22,614,555 shares of the company’s stock worth $361,833,000 after purchasing an additional 4,675,824 shares during the period. KEYWISE CAPITAL MANAGEMENT HK Ltd boosted its position in Palantir Technologies by 314.7% during the third quarter. KEYWISE CAPITAL MANAGEMENT HK Ltd now owns 5,285,700 shares of the company’s stock worth $84,571,000 after purchasing an additional 4,011,100 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in shares of Palantir Technologies in the third quarter valued at approximately $55,719,000. Finally, International Assets Investment Management LLC raised its stake in shares of Palantir Technologies by 1,784.0% during the 4th quarter. International Assets Investment Management LLC now owns 2,895,772 shares of the company’s stock worth $49,720,000 after buying an additional 2,742,071 shares during the period. Hedge funds and other institutional investors own 45.65% of the company’s stock.

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.