Palantir Technologies (NASDAQ:PLTR) Price Target Raised to $60.00 at Jefferies Financial Group

Palantir Technologies (NASDAQ:PLTR) had its target price increased by Jefferies Financial Group from $28.00 to $60.00 in a report published on Tuesday morning,Benzinga reports. They currently have an underperform rating on the stock.

Several other research firms have also issued reports on PLTR. The Goldman Sachs Group upped their price target on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Bank of America upped their target price on shares of Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday. Northland Securities lifted their price target on Palantir Technologies from $38.00 to $80.00 and gave the stock a “market perform” rating in a report on Tuesday. Morgan Stanley upgraded Palantir Technologies from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $60.00 to $95.00 in a research note on Tuesday. Finally, DA Davidson lifted their target price on Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Six analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Palantir Technologies presently has a consensus rating of “Hold” and a consensus target price of $64.89.

Palantir Technologies Price Performance

Shares of NASDAQ PLTR opened at $103.83 on Tuesday. The business has a 50-day moving average of $74.09 and a 200-day moving average of $51.39. The stock has a market capitalization of $236.53 billion, a price-to-earnings ratio of 519.18, a PEG ratio of 7.54 and a beta of 2.81. Palantir Technologies has a fifty-two week low of $16.48 and a fifty-two week high of $106.91.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings results 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 firm had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The business’s quarterly revenue was up 30.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.03 EPS. On average, sell-side analysts expect that Palantir Technologies will post 0.19 EPS for the current year.

Insider Buying and Selling

In related news, insider Stephen Andrew Cohen sold 450,000 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $70.95, for a total value of $31,927,500.00. Following the sale, the insider now directly owns 592 shares of the company’s stock, valued at $42,002.40. This trade represents a 99.87 % decrease in their ownership of the stock. The transaction was disclosed in a 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 dated Thursday, November 7th. The stock was sold at an average price of $55.03, for a total value of $247,635,000.00. Following the transaction, the insider now directly owns 6,432,258 shares of the company’s stock, valued at approximately $353,967,157.74. The trade was a 41.16 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,153,753 shares of company stock worth $1,287,042,675. Corporate insiders own 12.93% of the company’s stock.

Institutional Investors Weigh In On Palantir Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its holdings in Palantir Technologies by 60.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock worth $460,798,000 after acquiring an additional 4,667,955 shares during the last quarter. Diversify Wealth Management LLC acquired a new position in shares of Palantir Technologies during the fourth quarter worth $876,000. Destiny Wealth Partners LLC bought a new stake in shares of Palantir Technologies in the fourth quarter worth $3,233,000. State of Alaska Department of Revenue increased its holdings in Palantir Technologies by 22.9% in the third quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company’s stock valued at $13,786,000 after purchasing an additional 68,945 shares during the period. Finally, Oppenheimer & Co. Inc. raised its position in Palantir Technologies by 19.2% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 541,567 shares of the company’s stock worth $20,146,000 after purchasing an additional 87,062 shares during the last quarter. Institutional investors own 45.65% of the company’s stock.

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.