Palantir Technologies (NYSE:PLTR) Price Target Raised to $75.00

Palantir Technologies (NYSE:PLTR) had its price objective boosted by equities research analysts at Bank of America from $55.00 to $75.00 in a report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Bank of America‘s price target would indicate a potential upside of 14.09% from the company’s current price.

A number of other equities analysts have also issued reports on the company. Northland Securities upped their target price on Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft upped their target price on Palantir Technologies from $20.00 to $21.00 and gave the company a “sell” rating in a research report on Tuesday, August 6th. DA Davidson upped their target price on Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Mizuho upped their target price on Palantir Technologies from $30.00 to $37.00 and gave the company an “underperform” rating in a research report on Tuesday, November 5th. Finally, Wedbush raised their price objective on Palantir Technologies from $38.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, September 26th. 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $35.64.

Palantir Technologies Price Performance

NYSE PLTR opened at $65.74 on Monday. The business’s 50-day simple moving average is $47.09 and its 200-day simple moving average is $34.10. The firm has a market capitalization of $149.76 billion, a P/E ratio of 328.72 and a beta of 2.70. Palantir Technologies has a 1-year low of $15.66 and a 1-year high of $67.88.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.09 by $0.01. The firm had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. Palantir Technologies’s revenue for the quarter was up 30.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.03 EPS. On average, equities research analysts expect that Palantir Technologies will post 0.21 EPS for the current fiscal year.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Alexander C. Karp sold 1,620,395 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $63.21, for a total transaction of $102,425,167.95. Following the sale, the insider now directly owns 6,432,258 shares of the company’s stock, valued at $406,583,028.18. The trade was a 20.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Heather A. Planishek sold 14,016 shares of the firm’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $30.67, for a total value of $429,870.72. Following the completion of the sale, the insider now directly owns 576,023 shares of the company’s stock, valued at approximately $17,666,625.41. This trade represents a 2.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,167,451 shares of company stock valued at $1,603,067,889 over the last ninety days. Insiders own 12.93% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PLTR. Summit Securities Group LLC acquired a new stake in shares of Palantir Technologies in the second quarter valued at about $25,000. Farmers & Merchants Investments Inc. acquired a new stake in shares of Palantir Technologies in the second quarter valued at about $25,000. Northwest Investment Counselors LLC acquired a new stake in shares of Palantir Technologies in the third quarter valued at about $25,000. Prestige Wealth Management Group LLC grew its position in shares of Palantir Technologies by 747.1% in the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after purchasing an additional 650 shares during the last quarter. Finally, University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Palantir Technologies in the second quarter valued at about $30,000. 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.