The Goldman Sachs Group Forecasts Strong Price Appreciation for Palantir Technologies (NYSE:PLTR) Stock

Palantir Technologies (NYSE:PLTR) had its price objective lifted by research analysts at The Goldman Sachs Group from $16.00 to $41.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target would indicate a potential downside of 29.82% from the company’s current price.

A number of other equities research analysts have also recently commented on PLTR. Royal Bank of Canada reissued an “underperform” rating and set a $9.00 price target on shares of Palantir Technologies in a report on Tuesday, August 6th. Bank of America boosted their price target on Palantir Technologies from $30.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Northland Capmk raised shares of Palantir Technologies to a “hold” rating in a report on Thursday, August 22nd. Jefferies Financial Group cut shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price objective on the stock. in a research report on Thursday. Finally, Wedbush upped their target price on shares of Palantir Technologies from $38.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, September 26th. Six equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $31.71.

Palantir Technologies Stock Up 4.5 %

PLTR stock opened at $58.42 on Thursday. The business’s 50-day moving average price is $39.60 and its 200-day moving average price is $30.33. The stock has a market cap of $130.83 billion, a P/E ratio of 292.11 and a beta of 2.70. Palantir Technologies has a twelve month low of $15.66 and a twelve month high of $58.48.

Palantir Technologies (NYSE:PLTR) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.01. The business had revenue of $725.52 million for the quarter, compared to the consensus estimate of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The company’s revenue for the quarter was up 30.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.03 earnings per share. On average, equities research analysts expect that Palantir Technologies will post 0.19 earnings per share for the current fiscal year.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Heather A. Planishek sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $30.24, for a total transaction of $604,800.00. Following the sale, the insider now directly owns 612,006 shares of the company’s stock, valued at $18,507,061.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Palantir Technologies news, insider Heather A. Planishek sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $30.24, for a total transaction of $604,800.00. Following the sale, the insider now directly owns 612,006 shares of the company’s stock, valued at $18,507,061.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Alexander C. Karp sold 4,500,000 shares of the business’s stock in a transaction that occurred on 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 directly owns 6,432,258 shares in the company, valued at $232,011,546.06. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 25,482,878 shares of company stock valued at $1,044,202,496. 12.93% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of PLTR. Summit Securities Group LLC purchased a new position in shares of Palantir Technologies during the second quarter valued at approximately $25,000. Farmers & Merchants Investments Inc. purchased a new position in shares of Palantir Technologies during the second quarter valued at approximately $25,000. Northwest Investment Counselors LLC purchased 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. purchased a new position in shares of Palantir Technologies during the second quarter valued at approximately $30,000. Finally, Beacon Capital Management LLC boosted its position 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 buying an additional 1,105 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.