Palantir Technologies (NASDAQ:PLTR) Stock Rating Upgraded by Morgan Stanley

Palantir Technologies (NASDAQ:PLTR) was upgraded by Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research report issued on Tuesday, Marketbeat Ratings reports. The brokerage presently has a $95.00 price objective on the stock, up from their prior price objective of $60.00. Morgan Stanley’s target price suggests a potential downside of 6.27% from the stock’s previous close.

Several other analysts also recently weighed in on PLTR. Argus downgraded Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Baird R W raised shares of Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Bank of America upped their target price on shares of Palantir Technologies from $55.00 to $75.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Wedbush raised their price target on shares of Palantir Technologies from $75.00 to $90.00 and gave the stock an “outperform” rating in a research report on Thursday, January 23rd. Finally, Cantor Fitzgerald assumed coverage on shares of Palantir Technologies in a research report on Friday, January 17th. They set a “neutral” rating and a $72.00 price objective for the company. Six investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Palantir Technologies currently has a consensus rating of “Hold” and a consensus target price of $69.44.

Palantir Technologies Trading Down 2.4 %

Shares of Palantir Technologies stock opened at $101.36 on Tuesday. Palantir Technologies has a 1-year low of $19.76 and a 1-year high of $106.91. The firm has a fifty day simple moving average of $74.85 and a 200-day simple moving average of $51.92. The stock has a market capitalization of $230.90 billion, a price-to-earnings ratio of 506.83, a PEG ratio of 7.54 and a beta of 2.81.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The company had revenue of $725.52 million during the quarter, compared to analysts’ expectations of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The business’s quarterly revenue was up 30.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.03 earnings per share. As a group, research analysts predict that Palantir Technologies will post 0.19 earnings per share for the current year.

Insider Transactions at Palantir Technologies

In other news, Director Lauren Elaina Friedman Stat sold 800 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $76.29, for a total transaction of $61,032.00. Following the sale, the director now owns 62,139 shares in the company, valued at approximately $4,740,584.31. This represents a 1.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Alexandra W. Schiff sold 4,000 shares of Palantir Technologies stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total value of $286,520.00. Following the completion of the transaction, the director now directly owns 195,393 shares of the company’s stock, valued at $13,996,000.59. This represents a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,653,753 shares of company stock valued at $1,039,407,675. 12.93% of the stock is owned by insiders.

Institutional Investors Weigh In On Palantir Technologies

A number of hedge funds have recently added to or reduced their stakes in the stock. Czech National Bank bought a new stake in shares of Palantir Technologies during the third quarter valued at approximately $15,261,000. GAMMA Investing LLC boosted its position in Palantir Technologies by 83.9% in the 3rd quarter. GAMMA Investing LLC now owns 5,713 shares of the company’s stock valued at $213,000 after buying an additional 2,607 shares during the last quarter. Azzad Asset Management Inc. ADV acquired a new stake in shares of Palantir Technologies in the 3rd quarter valued at $209,000. Diversified Trust Co increased its stake in shares of Palantir Technologies by 172.7% in the 3rd quarter. Diversified Trust Co now owns 21,559 shares of the company’s stock valued at $802,000 after buying an additional 13,652 shares during the period. Finally, Smith Anglin Financial LLC acquired a new position in shares of Palantir Technologies during the third quarter valued at $273,000. 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.