Palantir Technologies (NASDAQ:PLTR) Price Target Raised to $105.00 at DA Davidson

Palantir Technologies (NASDAQ:PLTR) had its price target hoisted by DA Davidson from $47.00 to $105.00 in a research report released on Tuesday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other research firms have also weighed in on PLTR. Cantor Fitzgerald raised their target price on shares of Palantir Technologies from $72.00 to $98.00 and gave the stock a “neutral” rating in a research note on Tuesday. Jefferies Financial Group boosted their price objective on Palantir Technologies from $28.00 to $60.00 and gave the stock an “underperform” rating in a research note on Tuesday. Argus downgraded Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Robert W. Baird boosted their price target on shares of Palantir Technologies from $70.00 to $100.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, Mizuho raised their price objective on shares of Palantir Technologies from $44.00 to $80.00 and gave the stock an “underperform” rating in a research report on Tuesday. Six 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. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $64.89.

Palantir Technologies Price Performance

Shares of NASDAQ:PLTR opened at $103.83 on Tuesday. Palantir Technologies has a 1 year low of $16.48 and a 1 year high of $106.91. The firm has a market capitalization of $236.53 billion, a PE ratio of 519.18, a P/E/G ratio of 7.54 and a beta of 2.81. The business’s 50 day moving average price is $74.09 and its 200-day moving average price is $51.39.

Palantir Technologies (NASDAQ:PLTR) last released its earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The business had revenue of $725.52 million during the quarter, compared to analyst estimates of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The company’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 earned $0.03 earnings per share. As a group, analysts expect that Palantir Technologies will post 0.19 earnings per share for the current year.

Insider Transactions at Palantir Technologies

In related news, insider Shyam Sankar sold 5,250,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $70.08, for a total transaction of $367,920,000.00. Following the sale, the insider now directly owns 752,786 shares in the company, valued at approximately $52,755,242.88. This represents a 87.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Alexander C. Karp sold 4,500,000 shares of Palantir Technologies stock in a transaction that occurred 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 completion of the transaction, the insider now owns 6,432,258 shares of the company’s stock, valued at $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 90 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.

Institutional Trading of Palantir Technologies

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