Palantir Technologies (NASDAQ:PLTR) Stock Price Expected to Rise, Northland Securities Analyst Says

Palantir Technologies (NASDAQ:PLTR) had its target price raised by Northland Securities from $38.00 to $80.00 in a research report released on Tuesday,Benzinga reports. The brokerage currently has a market perform rating on the stock.

A number of other research analysts have also weighed in on the company. Mizuho upped their price objective on Palantir Technologies from $37.00 to $44.00 and gave the stock an “underperform” rating in a report on Friday, December 13th. Robert W. Baird upped their target price on Palantir Technologies from $70.00 to $100.00 and gave the company a “neutral” rating in a report on Tuesday. William Blair reissued an “underperform” rating on shares of Palantir Technologies in a report on Wednesday, December 18th. DA Davidson upped their target price on Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Finally, The Goldman Sachs Group upped their target price on Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Six equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $69.44.

Palantir Technologies Price Performance

Shares of PLTR stock opened at $111.28 on Tuesday. The business’s fifty day moving average price is $75.56 and its 200 day moving average price is $52.26. Palantir Technologies has a 1-year low of $20.33 and a 1-year high of $111.55. The firm has a market capitalization of $253.50 billion, a PE ratio of 556.43, a P/E/G ratio of 7.54 and a beta of 2.81.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, topping 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 analyst estimates of $705.11 million. During the same quarter in the prior year, the company posted $0.03 earnings per share. Palantir Technologies’s quarterly revenue was up 30.0% on a year-over-year basis. Equities research analysts expect that Palantir Technologies will post 0.19 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Lauren Elaina Friedman Stat sold 11,794 shares of the stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $102.80, for a total transaction of $1,212,423.20. Following the transaction, the director now directly owns 88,129 shares in the company, valued at approximately $9,059,661.20. This represents a 11.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Alexandra W. Schiff sold 4,000 shares of the stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $71.63, for a total value of $286,520.00. Following the transaction, the director now owns 195,393 shares in the company, valued at $13,996,000.59. This trade represents a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 15,656,687 shares of company stock worth $1,040,105,687. 12.93% of the stock is owned by company insiders.

Institutional Investors Weigh In On Palantir Technologies

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

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.