Raymond James Increases Palantir Technologies (NYSE:PLTR) Price Target to $30.00

Palantir Technologies (NYSE:PLTR) had its target price raised by Raymond James from $25.00 to $30.00 in a research note published on Tuesday morning, Benzinga reports. The brokerage currently has an outperform rating on the stock.

Other research analysts have also issued research reports about the stock. 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. Royal Bank of Canada reiterated an underperform rating and issued a $9.00 price target on shares of Palantir Technologies in a research report on Tuesday. DA Davidson increased their price target on shares of Palantir Technologies from $24.00 to $28.00 and gave the company a neutral rating in a research report on Tuesday. Wedbush reiterated an outperform rating and issued a $35.00 price target on shares of Palantir Technologies in a research report on Friday, August 2nd. Finally, HSBC increased their price target on shares of Palantir Technologies from $22.00 to $23.00 and gave the company a hold rating in a research report on Tuesday, May 7th. Six investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Palantir Technologies has an average rating of Hold and a consensus target price of $23.14.

Palantir Technologies Stock Up 2.5 %

NYSE:PLTR traded up $0.73 during mid-day trading on Tuesday, reaching $30.01. 88,131,106 shares of the company were exchanged, compared to its average volume of 48,413,612. Palantir Technologies has a 12 month low of $13.68 and a 12 month high of $30.36. The company has a fifty day moving average of $25.97 and a 200 day moving average of $23.60. The stock has a market cap of $66.83 billion, a PE ratio of 250.10, a PEG ratio of 6.14 and a beta of 2.71.

Palantir Technologies (NYSE:PLTR) last issued its earnings results on Monday, August 5th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.01. The company had revenue of $678.13 million for the quarter, compared to analyst estimates of $653.23 million. Palantir Technologies had a net margin of 16.32% and a return on equity of 9.24%. The company’s revenue for the quarter was up 27.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.01 EPS. On average, equities research analysts anticipate that Palantir Technologies will post 0.16 EPS for the current fiscal year.

Insider Transactions at Palantir Technologies

In other news, insider Heather A. Planishek sold 10,907 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $21.43, for a total transaction of $233,737.01. Following the completion of the transaction, the insider now directly owns 651,099 shares of the company’s stock, valued at approximately $13,953,051.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Lauren Elaina Friedman Stat sold 2,000 shares of the firm’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $28.97, for a total value of $57,940.00. Following the completion of the transaction, the director now directly owns 69,039 shares of the company’s stock, valued at $2,000,059.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Heather A. Planishek sold 10,907 shares of the firm’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $21.43, for a total transaction of $233,737.01. Following the completion of the transaction, the insider now directly owns 651,099 shares of the company’s stock, valued at $13,953,051.57. The disclosure for this sale can be found here. Insiders sold 164,396 shares of company stock valued at $4,389,707 in the last ninety days. 12.93% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Palantir Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the company. Pursue Wealth Partners LLC bought a new position in Palantir Technologies during the fourth quarter worth $1,741,000. Vanguard Group Inc. boosted its position in Palantir Technologies by 3.5% during the fourth quarter. Vanguard Group Inc. now owns 193,805,263 shares of the company’s stock worth $3,327,636,000 after purchasing an additional 6,466,596 shares during the period. SG Americas Securities LLC boosted its position in Palantir Technologies by 183.3% during the first quarter. SG Americas Securities LLC now owns 158,394 shares of the company’s stock worth $3,645,000 after purchasing an additional 102,479 shares during the period. Accel Wealth Management bought a new position in Palantir Technologies during the first quarter worth $360,000. Finally, Panagora Asset Management Inc. boosted its position in Palantir Technologies by 185.6% during the fourth quarter. Panagora Asset Management Inc. now owns 76,695 shares of the company’s stock worth $1,317,000 after purchasing an additional 49,839 shares during the period. 45.65% of the stock is owned by institutional investors.

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.