Jefferies Financial Group Issues Positive Forecast for Palantir Technologies (NASDAQ:PLTR) Stock Price

Palantir Technologies (NASDAQ:PLTR) had its price target increased by investment analysts at Jefferies Financial Group from $28.00 to $60.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an “underperform” rating on the stock. Jefferies Financial Group’s price target would indicate a potential downside of 28.35% from the company’s current price.

PLTR has been the subject of several other research reports. Argus lowered shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Bank of America lifted their price target on Palantir Technologies from $90.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday. UBS Group started coverage on shares of Palantir Technologies in a research report on Thursday, December 19th. They issued a “neutral” rating and a $80.00 price target on the stock. Baird R W raised Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Finally, William Blair reaffirmed 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 issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Palantir Technologies presently has an average rating of “Hold” and an average price target of $57.11.

Palantir Technologies Price Performance

PLTR opened at $83.74 on Tuesday. The stock has a market cap of $190.76 billion, a P/E ratio of 418.72, a P/E/G ratio of 7.54 and a beta of 2.81. Palantir Technologies has a 1-year low of $16.48 and a 1-year high of $85.22. The stock’s 50 day simple moving average is $73.71 and its 200 day simple moving average is $51.00.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The firm had revenue of $725.52 million during 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 quarterly revenue was up 30.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.03 EPS. Research analysts expect that Palantir Technologies will post 0.19 EPS for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In other news, insider Shyam Sankar sold 5,250,000 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was 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 of the company’s stock, valued at approximately $52,755,242.88. The trade was a 87.46 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 shares were sold at an average price of $55.03, for a total value of $247,635,000.00. Following the transaction, the insider now owns 6,432,258 shares in the company, valued at approximately $353,967,157.74. This represents a 41.16 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,153,753 shares of company stock valued at $1,287,042,675. Corporate insiders own 12.93% of the company’s stock.

Institutional Trading of Palantir Technologies

Several large investors have recently bought and sold shares of PLTR. State Street Corp boosted its holdings in shares of Palantir Technologies by 96.4% during the 3rd quarter. State Street Corp now owns 82,512,440 shares of the company’s stock valued at $3,069,463,000 after buying an additional 40,498,024 shares in the last quarter. Geode Capital Management LLC boosted its stake in Palantir Technologies by 52.9% during the third quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock worth $1,777,568,000 after acquiring an additional 16,598,253 shares in the last quarter. International Assets Investment Management LLC grew its holdings in Palantir Technologies by 3,476.2% in the third quarter. International Assets Investment Management LLC now owns 6,832,301 shares of the company’s stock worth $254,162,000 after purchasing an additional 6,641,253 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Palantir Technologies by 60.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock valued at $460,798,000 after purchasing an additional 4,667,955 shares during the last quarter. Finally, Lord Abbett & CO. LLC lifted its holdings in shares of Palantir Technologies by 943.2% during the third quarter. Lord Abbett & CO. LLC now owns 3,300,766 shares of the company’s stock valued at $122,788,000 after purchasing an additional 2,984,348 shares during 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.