Palantir Technologies (NYSE:PLTR) Price Target Raised to $37.00

Palantir Technologies (NYSE:PLTR) had its target price increased by equities research analysts at Mizuho from $30.00 to $37.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has an “underperform” rating on the stock. Mizuho’s target price indicates a potential downside of 26.81% from the stock’s previous close.

Several other brokerages have also recently weighed in on PLTR. The Goldman Sachs Group upped their target price on Palantir Technologies from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft boosted their price target on Palantir Technologies from $20.00 to $21.00 and gave the stock a “sell” rating in a research report on Tuesday, August 6th. Northland Capmk raised Palantir Technologies to a “hold” rating in a research report on Thursday, August 22nd. Monness Crespi & Hardt reduced their price target on Palantir Technologies from $20.00 to $18.00 and set a “sell” rating for the company in a research report on Tuesday, August 6th. Finally, DA Davidson boosted their price target on Palantir Technologies from $24.00 to $28.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 6th. Five analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $28.57.

Palantir Technologies Price Performance

Shares of PLTR stock traded up $9.14 during mid-day trading on Tuesday, hitting $50.55. The stock had a trading volume of 155,901,438 shares, compared to its average volume of 56,635,648. Palantir Technologies has a 12-month low of $15.66 and a 12-month high of $51.19. The firm has a market capitalization of $113.20 billion, a P/E ratio of 297.37 and a beta of 2.70. The firm’s 50-day moving average is $38.19 and its two-hundred day moving average is $29.75.

Palantir Technologies (NYSE:PLTR) last issued its earnings results on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.01. Palantir Technologies had a return on equity of 8.88% and a net margin of 16.32%. The business had revenue of $725.52 million during the quarter, compared to analysts’ expectations of $705.11 million. During the same period in the prior year, the business earned $0.03 EPS. The business’s revenue for the quarter was up 30.0% compared to the same quarter last year. Analysts expect that Palantir Technologies will post 0.19 EPS for the current year.

Insider Activity

In other news, Director Alexander D. Moore sold 20,000 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $30.89, for a total value of $617,800.00. Following the transaction, the director now directly owns 1,510,630 shares of the company’s stock, valued at approximately $46,663,360.70. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Alexander C. Karp sold 4,500,000 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $36.07, for a total value of $162,315,000.00. Following the sale, the insider now owns 6,432,258 shares in the company, valued at $232,011,546.06. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Alexander D. Moore sold 20,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $30.89, for a total value of $617,800.00. Following the completion of the sale, the director now owns 1,510,630 shares in the company, valued at $46,663,360.70. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,204,508 shares of company stock valued at $802,654,666. Company insiders own 12.93% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

A number of hedge funds have recently bought and sold shares of PLTR. Summit Securities Group LLC purchased a new position in Palantir Technologies during the second quarter worth approximately $25,000. Farmers & Merchants Investments Inc. purchased a new position in Palantir Technologies during the second quarter worth approximately $25,000. Northwest Investment Counselors LLC acquired a new position in shares of Palantir Technologies during the third quarter valued at approximately $25,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Palantir Technologies during the second quarter valued at approximately $30,000. Finally, Beacon Capital Management LLC raised its holdings in shares of Palantir Technologies by 269.5% during the first quarter. Beacon Capital Management LLC now owns 1,515 shares of the company’s stock valued at $35,000 after acquiring an additional 1,105 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

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.