Bank of America Issues Positive Forecast for Palantir Technologies (NASDAQ:PLTR) Stock Price

Palantir Technologies (NASDAQ:PLTR) had its price target lifted by research analysts at Bank of America from $215.00 to $255.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Bank of America‘s target price indicates a potential upside of 23.08% from the company’s previous close.

PLTR has been the subject of a number of other research reports. Wedbush set a $200.00 price target on Palantir Technologies and gave the stock an “outperform” rating in a research report on Tuesday, August 5th. Jefferies Financial Group reaffirmed an “underperform” rating on shares of Palantir Technologies in a research report on Tuesday. The Goldman Sachs Group lifted their price target on Palantir Technologies from $90.00 to $141.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 6th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Palantir Technologies in a research report on Wednesday, October 8th. Finally, Mizuho set a $205.00 price target on Palantir Technologies and gave the stock a “neutral” rating in a research report on Tuesday. Five investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $150.00.

Palantir Technologies Price Performance

Shares of PLTR stock opened at $207.18 on Tuesday. Palantir Technologies has a 1-year low of $41.03 and a 1-year high of $207.52. The stock’s fifty day moving average price is $175.75 and its 200 day moving average price is $151.99. The company has a market cap of $491.50 billion, a price-to-earnings ratio of 690.62, a price-to-earnings-growth ratio of 10.87 and a beta of 2.63.

Palantir Technologies (NASDAQ:PLTR) last announced its earnings results on Monday, November 3rd. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.04. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%.The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the previous year, the business earned $0.10 EPS. The firm’s revenue for the quarter was up 62.8% on a year-over-year basis. Palantir Technologies has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. As a group, equities research analysts anticipate that Palantir Technologies will post 0.31 earnings per share for the current year.

Insider Transactions at Palantir Technologies

In related news, insider Alexander C. Karp sold 222,878 shares of Palantir Technologies stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $151.37, for a total value of $33,737,042.86. Following the completion of the transaction, the insider owned 6,432,258 shares in the company, valued at $973,650,893.46. The trade was a 3.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David A. Glazer sold 81,000 shares of Palantir Technologies stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $154.47, for a total value of $12,512,070.00. Following the completion of the transaction, the insider owned 431,169 shares of the company’s stock, valued at approximately $66,602,675.43. This represents a 15.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,527,750 shares of company stock worth $234,463,896 over the last quarter. Company insiders own 12.93% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

Several institutional investors and hedge funds have recently modified their holdings of PLTR. Truist Financial Corp increased its stake in Palantir Technologies by 4.2% during the 2nd quarter. Truist Financial Corp now owns 537,000 shares of the company’s stock worth $73,204,000 after buying an additional 21,809 shares in the last quarter. State of Michigan Retirement System increased its stake in Palantir Technologies by 1.3% during the 2nd quarter. State of Michigan Retirement System now owns 938,400 shares of the company’s stock worth $127,923,000 after buying an additional 12,300 shares in the last quarter. Presilium Private Wealth LLC purchased a new stake in Palantir Technologies during the 2nd quarter worth approximately $204,000. New Century Financial Group LLC purchased a new stake in Palantir Technologies during the 2nd quarter worth approximately $228,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Palantir Technologies by 10.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 11,668,082 shares of the company’s stock worth $984,786,000 after buying an additional 1,135,841 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

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.