DA Davidson Forecasts Strong Price Appreciation for Palantir Technologies (NYSE:PLTR) Stock

Palantir Technologies (NYSE:PLTR) had its price objective hoisted by stock analysts at DA Davidson from $28.00 to $47.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. DA Davidson’s target price suggests a potential downside of 8.11% from the stock’s current price.

A number of other research firms also recently weighed in on PLTR. Mizuho upped their target price on Palantir Technologies from $30.00 to $37.00 and gave the stock an “underperform” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft raised their price objective on Palantir Technologies from $20.00 to $21.00 and gave the company a “sell” rating in a research report on Tuesday, August 6th. Monness Crespi & Hardt reduced their target price on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating on the stock in a research report on Tuesday, August 6th. Royal Bank of Canada reissued an “underperform” rating and set a $9.00 price target on shares of Palantir Technologies in a research report on Tuesday, August 6th. Finally, Jefferies Financial Group boosted their price objective on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Five analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $29.93.

Palantir Technologies Price Performance

Palantir Technologies stock traded up $9.74 during trading hours on Tuesday, reaching $51.15. The company had a trading volume of 208,366,442 shares, compared to its average volume of 56,879,281. Palantir Technologies has a 12-month low of $15.66 and a 12-month high of $51.58. The company has a 50-day moving average price of $38.19 and a 200 day moving average price of $29.75. The firm has a market cap of $114.55 billion, a price-to-earnings ratio of 300.90 and a beta of 2.70.

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

Insiders Place Their Bets

In related news, insider Alexander C. Karp sold 3,337,048 shares of Palantir Technologies stock in a transaction on Monday, October 28th. The stock was sold at an average price of $45.02, for a total transaction of $150,233,900.96. Following the transaction, the insider now directly owns 6,432,258 shares in the company, valued at approximately $289,580,255.16. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Palantir Technologies news, Director Alexander D. Moore sold 20,000 shares of the stock in a transaction on 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 approximately $46,663,360.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Alexander C. Karp sold 3,337,048 shares of the business’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $45.02, for a total value of $150,233,900.96. Following the completion of the transaction, the insider now owns 6,432,258 shares in the company, valued at $289,580,255.16. 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 ninety days, insiders have sold 21,204,508 shares of company stock worth $802,654,666. Company insiders own 12.93% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

Several institutional investors have recently bought and sold shares of PLTR. Aptus Capital Advisors LLC boosted its stake in Palantir Technologies by 3.5% during the third quarter. Aptus Capital Advisors LLC now owns 13,392 shares of the company’s stock valued at $498,000 after buying an additional 456 shares during the last quarter. Aigen Investment Management LP purchased a new stake in Palantir Technologies during the third quarter valued at $1,428,000. Prime Capital Investment Advisors LLC lifted its position in Palantir Technologies by 21.5% during the third quarter. Prime Capital Investment Advisors LLC now owns 307,449 shares of the company’s stock valued at $11,437,000 after purchasing an additional 54,504 shares during the last quarter. Savvy Advisors Inc. purchased a new position in shares of Palantir Technologies in the 3rd quarter worth $248,000. Finally, Ashton Thomas Private Wealth LLC increased its holdings in shares of Palantir Technologies by 33.1% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 23,151 shares of the company’s stock worth $861,000 after buying an additional 5,751 shares during the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

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.