Palantir Technologies (NASDAQ:PLTR) Price Target Raised to $100.00

Palantir Technologies (NASDAQ:PLTR) had its price objective lifted by research analysts at Robert W. Baird from $70.00 to $100.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Robert W. Baird’s price objective points to a potential upside of 19.42% from the company’s previous close.

Other analysts have also recently issued research reports about the stock. UBS Group initiated coverage on shares of Palantir Technologies in a research note on Thursday, December 19th. They issued a “neutral” rating and a $80.00 price target for the company. Jefferies Financial Group downgraded shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 target price for the company. in a research note on Thursday, November 7th. Argus downgraded Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Mizuho raised their price objective on Palantir Technologies from $37.00 to $44.00 and gave the company an “underperform” rating in a research report on Friday, December 13th. Finally, William Blair reissued an “underperform” rating on shares of Palantir Technologies in a report on Wednesday, December 18th. Six equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $57.11.

Palantir Technologies Stock Performance

PLTR opened at $83.74 on Tuesday. The business’s 50-day simple moving average is $73.71 and its 200 day simple moving average is $51.00. Palantir Technologies has a 52-week low of $16.48 and a 52-week high of $85.22. The firm has a market capitalization of $190.76 billion, a PE ratio of 418.72, a PEG ratio of 7.54 and a beta of 2.81.

Palantir Technologies (NASDAQ:PLTR) last released 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 company had revenue of $725.52 million during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.03 EPS. On average, research analysts forecast that Palantir Technologies will post 0.19 earnings per share for the current year.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Alexander C. Karp sold 4,500,000 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $55.03, for a total transaction of $247,635,000.00. Following the transaction, the insider now owns 6,432,258 shares in the company, valued at $353,967,157.74. This trade represents a 41.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lauren Elaina Friedman Stat sold 8,860 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $58.06, for a total value of $514,411.60. Following the sale, the director now owns 121,390 shares of the company’s stock, valued at approximately $7,047,903.40. The trade was a 6.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 20,153,753 shares of company stock valued at $1,287,042,675. 12.93% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Palantir Technologies

Several hedge funds have recently bought and sold shares of PLTR. Czech National Bank acquired a new stake in shares of Palantir Technologies during the 3rd quarter worth approximately $15,261,000. GAMMA Investing LLC boosted its holdings in shares of 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 purchasing an additional 2,607 shares in the last quarter. Azzad Asset Management Inc. ADV bought a new position in shares of Palantir Technologies in the 3rd quarter valued at $209,000. Diversified Trust Co raised its holdings in shares of Palantir Technologies by 172.7% during the 3rd quarter. Diversified Trust Co now owns 21,559 shares of the company’s stock worth $802,000 after buying an additional 13,652 shares in the last quarter. Finally, Smith Anglin Financial LLC bought a new stake in shares of Palantir Technologies during the 3rd quarter worth $273,000. 45.65% of the stock is owned by institutional investors.

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.