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

Palantir Technologies (NYSE:PLTR) had its price objective hoisted by Mizuho from $30.00 to $37.00 in a research report sent to investors on Tuesday,Benzinga reports. The brokerage currently has an underperform rating on the stock.

Several other analysts have also recently commented on the stock. Northland Securities upped their target price on shares of Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a research report on Tuesday. Bank of America lifted their price target on Palantir Technologies from $30.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. DA Davidson boosted their price target on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 6th. Jefferies Financial Group raised their target price on shares of Palantir Technologies from $24.00 to $28.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Finally, Raymond James downgraded Palantir Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. Six investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Palantir Technologies currently has an average rating of “Hold” and an average price target of $31.71.

Palantir Technologies Price Performance

PLTR stock opened at $55.87 on Tuesday. Palantir Technologies has a fifty-two week low of $15.66 and a fifty-two week high of $56.47. The stock has a market capitalization of $125.12 billion, a price-to-earnings ratio of 279.35 and a beta of 2.70. The business has a fifty day moving average price of $39.10 and a 200 day moving average price of $30.15.

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 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 net margin of 18.01% and a return on equity of 10.41%. Palantir Technologies’s revenue for the quarter was up 30.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.03 earnings per share. On average, equities analysts expect that Palantir Technologies will post 0.19 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Heather A. Planishek sold 20,000 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $30.24, for a total value of $604,800.00. Following the completion of the sale, the insider now directly owns 612,006 shares in the company, valued at $18,507,061.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Alexander C. Karp sold 4,500,000 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $55.03, for a total transaction of $247,635,000.00. Following the transaction, the insider now directly owns 6,432,258 shares of the company’s stock, valued at $353,967,157.74. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Heather A. Planishek sold 20,000 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $30.24, for a total value of $604,800.00. Following the completion of 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 disclosure for this sale can be found here. Insiders sold a total of 25,482,878 shares of company stock valued at $1,044,202,496 in the last 90 days. Corporate insiders own 12.93% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. State of Alaska Department of Revenue boosted its holdings in Palantir Technologies by 22.9% during the third quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company’s stock worth $13,786,000 after purchasing an additional 68,945 shares during the last quarter. Heritage Wealth Management Inc. CA purchased a new stake in shares of Palantir Technologies during the third quarter worth $1,076,000. Cyndeo Wealth Partners LLC bought a new stake in shares of Palantir Technologies during the third quarter valued at about $6,339,000. Seven Grand Managers LLC bought a new stake in Palantir Technologies during the 3rd quarter worth approximately $930,000. Finally, Silvant Capital Management LLC raised its position in shares of Palantir Technologies by 28.2% in the third quarter. Silvant Capital Management LLC now owns 231,543 shares of the company’s stock worth $8,613,000 after buying an additional 50,883 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

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.