Robert W. Baird Boosts Palantir Technologies (NASDAQ:PLTR) Price Target to $100.00

Palantir Technologies (NASDAQ:PLTR) had its target price boosted by Robert W. Baird from $70.00 to $100.00 in a research note issued to investors on Tuesday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other equities analysts have also weighed in on PLTR. DA Davidson increased their target price on shares of Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Bank of America lifted their price objective on shares of Palantir Technologies from $55.00 to $75.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Morgan Stanley upgraded Palantir Technologies from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $60.00 to $95.00 in a research report on Tuesday. Wedbush lifted their price target on Palantir Technologies from $75.00 to $90.00 and gave the company an “outperform” rating in a research report on Thursday, January 23rd. Finally, Baird R W raised Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. Six investment analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Palantir Technologies presently has a consensus rating of “Hold” and a consensus target price of $64.89.

Palantir Technologies Trading Up 24.0 %

Palantir Technologies stock opened at $103.83 on Tuesday. The business’s 50 day simple moving average is $74.09 and its 200 day simple moving average is $51.39. Palantir Technologies has a 12 month low of $16.48 and a 12 month high of $106.91. The company has a market cap 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 (NASDAQ:PLTR) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The firm had revenue of $725.52 million for the quarter, compared to analysts’ expectations of $705.11 million. During the same quarter in the prior year, the firm earned $0.03 EPS. The business’s revenue for the quarter was up 30.0% compared to the same quarter last year. As a group, equities research analysts forecast that Palantir Technologies will post 0.19 earnings per share for the current fiscal year.

Insider Transactions at Palantir Technologies

In other news, insider Stephen Andrew Cohen sold 450,000 shares of the company’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $70.95, for a total value of $31,927,500.00. Following the completion of the sale, the insider now owns 592 shares of the company’s stock, valued at approximately $42,002.40. This represents a 99.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Shyam Sankar sold 5,250,000 shares of the stock in a transaction 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 transaction, 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,153,753 shares of company stock valued at $1,287,042,675. Insiders own 12.93% of the company’s stock.

Institutional Trading of Palantir Technologies

Several institutional investors have recently added to or reduced their stakes in the business. Czech National Bank bought a new stake in shares of Palantir Technologies in the 3rd quarter valued at about $15,261,000. GAMMA Investing LLC increased its stake in Palantir Technologies by 83.9% in the 3rd quarter. GAMMA Investing LLC now owns 5,713 shares of the company’s stock worth $213,000 after purchasing an additional 2,607 shares during the period. Azzad Asset Management Inc. ADV bought a new stake in Palantir Technologies in the third quarter valued at approximately $209,000. Diversified Trust Co boosted its stake in shares of Palantir Technologies by 172.7% during the third quarter. Diversified Trust Co now owns 21,559 shares of the company’s stock valued at $802,000 after purchasing an additional 13,652 shares during the period. Finally, Smith Anglin Financial LLC purchased a new position in shares of Palantir Technologies in the third quarter worth $273,000. 45.65% of the stock is currently owned by hedge funds and other 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.