Northland Securities Forecasts Strong Price Appreciation for Palantir Technologies (NASDAQ:PLTR) Stock

Palantir Technologies (NASDAQ:PLTR) had its target price raised by equities researchers at Northland Securities from $38.00 to $80.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “market perform” rating on the stock. Northland Securities’ target price would suggest a potential downside of 21.07% from the stock’s current price.

Several other analysts have also weighed in on PLTR. Morgan Stanley upgraded Palantir Technologies from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $60.00 to $95.00 in a report on Tuesday. Robert W. Baird increased their target price on shares of Palantir Technologies from $70.00 to $100.00 and gave the company a “neutral” rating in a research note on Tuesday. DA Davidson lifted their price target on shares of Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Bank of America increased their price objective 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. Finally, William Blair reissued an “underperform” rating on shares of Palantir Technologies in a research note on Wednesday, December 18th. Six research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $69.44.

Palantir Technologies Stock Down 2.4 %

Palantir Technologies stock opened at $101.36 on Tuesday. The company’s 50-day moving average price is $74.85 and its 200-day moving average price is $51.92. The company has a market cap of $230.90 billion, a PE ratio of 506.83, a price-to-earnings-growth ratio of 7.54 and a beta of 2.81. Palantir Technologies has a twelve month low of $19.76 and a twelve month high of $106.91.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.01. The company had revenue of $725.52 million for the quarter, compared to analysts’ expectations 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 for the quarter was up 30.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.03 earnings per share. As a group, sell-side analysts expect that Palantir Technologies will post 0.19 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Shyam Sankar sold 5,250,000 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $70.08, for a total value of $367,920,000.00. Following the completion of the sale, the insider now owns 752,786 shares in the company, valued at approximately $52,755,242.88. The trade was a 87.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Alexander C. Karp sold 1,823,602 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $63.12, for a total transaction of $115,105,758.24. Following the transaction, the insider now owns 6,432,258 shares in the company, valued at approximately $406,004,124.96. This represents a 22.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 15,653,753 shares of company stock valued at $1,039,407,675 over the last three months. 12.93% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Tritonpoint Wealth LLC raised its holdings in Palantir Technologies by 1.9% in the fourth quarter. Tritonpoint Wealth LLC now owns 7,100 shares of the company’s stock worth $537,000 after purchasing an additional 132 shares in the last quarter. Twin Peaks Wealth Advisors LLC grew its position in shares of Palantir Technologies by 2.2% in the 4th quarter. Twin Peaks Wealth Advisors LLC now owns 6,523 shares of the company’s stock worth $493,000 after buying an additional 139 shares during the last quarter. Kennebec Savings Bank raised its stake in shares of Palantir Technologies by 29.5% during the 4th quarter. Kennebec Savings Bank now owns 698 shares of the company’s stock worth $53,000 after acquiring an additional 159 shares in the last quarter. HighMark Wealth Management LLC lifted its position in Palantir Technologies by 73.5% during the fourth quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock valued at $30,000 after acquiring an additional 166 shares during the last quarter. Finally, RMR Wealth Builders boosted its stake in Palantir Technologies by 2.4% in the fourth quarter. RMR Wealth Builders now owns 7,201 shares of the company’s stock valued at $545,000 after acquiring an additional 167 shares in the last quarter. 45.65% of the stock is owned by institutional investors.

Palantir Technologies Company Profile

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.