Citigroup Issues Positive Forecast for Palantir Technologies (NASDAQ:PLTR) Stock Price

Palantir Technologies (NASDAQ:PLTR) had its target price lifted by Citigroup from $42.00 to $110.00 in a research report report published on Wednesday,Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other equities analysts also recently weighed in on the company. 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. Northland Securities increased their target price on shares of Palantir Technologies from $38.00 to $80.00 and gave the stock a “market perform” rating in a research report on Tuesday. Jefferies Financial Group boosted their price target on shares of Palantir Technologies from $28.00 to $60.00 and gave the company an “underperform” rating in a report on Tuesday. Morgan Stanley raised shares of Palantir Technologies from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $60.00 to $95.00 in a research note on Tuesday. Finally, Cantor Fitzgerald lifted their price objective on Palantir Technologies from $72.00 to $98.00 and gave the company a “neutral” rating in a research report on Tuesday. Six 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, the stock presently has an average rating of “Hold” and a consensus price target of $69.44.

Palantir Technologies Stock Performance

Shares of PLTR stock opened at $101.36 on Wednesday. The stock has a market cap of $230.90 billion, a PE ratio of 506.83, a price-to-earnings-growth ratio of 7.54 and a beta of 2.81. The business’s fifty day moving average is $74.85 and its 200-day moving average is $51.92. Palantir Technologies has a 1 year low of $19.76 and a 1 year high of $106.91.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, beating 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 return on equity of 9.94% and a net margin of 18.01%. Palantir Technologies’s revenue for the quarter was up 30.0% on a year-over-year basis. During the same quarter last year, the company posted $0.03 EPS. Equities research analysts predict that Palantir Technologies will post 0.19 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Lauren Elaina Friedman Stat sold 8,860 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $58.06, for a total value of $514,411.60. Following the completion of the transaction, the director now owns 121,390 shares of the company’s stock, valued at $7,047,903.40. The trade was a 6.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Alexandra W. Schiff sold 4,000 shares of Palantir Technologies stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total transaction of $286,520.00. Following the completion of the sale, the director now owns 195,393 shares in the company, valued at approximately $13,996,000.59. This trade represents a 2.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,653,753 shares of company stock valued at $1,039,407,675 in the last three months. Corporate insiders own 12.93% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. lifted its holdings in shares of Palantir Technologies by 60.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock valued at $460,798,000 after buying an additional 4,667,955 shares during the period. Diversify Wealth Management LLC acquired a new stake in Palantir Technologies in the 4th quarter worth about $876,000. Destiny Wealth Partners LLC acquired a new position in Palantir Technologies in the fourth quarter valued at $3,233,000. State of Alaska Department of Revenue lifted its holdings in shares of 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 valued at $13,786,000 after acquiring an additional 68,945 shares in the last quarter. Finally, Oppenheimer & Co. Inc. raised its stake in shares of Palantir Technologies by 19.2% during the third quarter. Oppenheimer & Co. Inc. now owns 541,567 shares of the company’s stock valued at $20,146,000 after purchasing an additional 87,062 shares during the period. 45.65% of the stock is currently 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.