Palantir Technologies (NASDAQ:PLTR) Rating Increased to Hold at Cantor Fitzgerald

Cantor Fitzgerald upgraded shares of Palantir Technologies (NASDAQ:PLTR) to a hold rating in a research report sent to investors on Thursday, MarketBeat.com reports. They currently have $72.00 price target on the stock.

A number of other equities analysts have also recently issued reports on PLTR. William Blair reiterated an “underperform” rating on shares of Palantir Technologies in a report on Wednesday, December 18th. Mizuho lifted their price objective on shares of Palantir Technologies from $37.00 to $44.00 and gave the company an “underperform” rating in a report on Friday, December 13th. Bank of America boosted their target price on shares of Palantir Technologies from $55.00 to $75.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. The Goldman Sachs Group raised their price target on shares of Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, Morgan Stanley reissued an “underweight” rating and set a $60.00 price objective on shares of Palantir Technologies in a report on Monday, January 6th. Seven investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Palantir Technologies currently has an average rating of “Hold” and an average price target of $43.78.

Palantir Technologies Trading Up 3.7 %

NASDAQ:PLTR opened at $71.77 on Thursday. The firm has a fifty day simple moving average of $70.22 and a two-hundred day simple moving average of $46.85. Palantir Technologies has a 12 month low of $16.03 and a 12 month high of $84.80. The stock has a market capitalization of $163.49 billion, a price-to-earnings ratio of 358.87, a PEG ratio of 6.24 and a beta of 2.82.

Palantir Technologies (NASDAQ:PLTR) last issued its earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The business had revenue of $725.52 million during 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%. The firm’s revenue was up 30.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.03 EPS. Equities analysts predict that Palantir Technologies will post 0.2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Ryan D. Taylor sold 123,334 shares of the stock in a transaction on Friday, October 25th. The stock was sold at an average price of $45.00, for a total transaction of $5,550,030.00. Following the completion of the transaction, the insider now owns 331,369 shares in the company, valued at approximately $14,911,605. This represents a 27.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $76.29, for a total value of $61,032.00. Following the completion of the sale, the director now directly owns 62,139 shares of the company’s stock, valued at approximately $4,740,584.31. This trade represents a 1.27 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,642,189 shares of company stock valued at $1,444,232,453. Company insiders own 12.93% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

Several large investors have recently modified their holdings of the business. State Street Corp boosted its holdings in Palantir Technologies by 96.4% in the 3rd quarter. State Street Corp now owns 82,512,440 shares of the company’s stock worth $3,069,463,000 after buying an additional 40,498,024 shares during the period. Geode Capital Management LLC lifted its position in shares of Palantir Technologies by 52.9% during the third quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock worth $1,777,568,000 after acquiring an additional 16,598,253 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Palantir Technologies by 3,476.2% in the third quarter. International Assets Investment Management LLC now owns 6,832,301 shares of the company’s stock worth $254,162,000 after acquiring an additional 6,641,253 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Palantir Technologies by 60.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock worth $460,798,000 after acquiring an additional 4,667,955 shares during the period. Finally, Marshall Wace LLP grew its position in shares of Palantir Technologies by 594.3% in the second quarter. Marshall Wace LLP now owns 3,550,176 shares of the company’s stock valued at $89,926,000 after purchasing an additional 3,038,861 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

About Palantir Technologies

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.