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

Palantir Technologies (NASDAQ:PLTR) had its price objective increased by UBS Group from $80.00 to $105.00 in a report released on Tuesday morning,Benzinga reports. They currently have a neutral rating on the stock.

Several other brokerages have also recently weighed in on PLTR. Robert W. Baird lifted their price objective on shares of Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a research note on Tuesday. Morgan Stanley upgraded shares of Palantir Technologies from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $60.00 to $95.00 in a research report on Tuesday. The Goldman Sachs Group boosted their target price on shares of Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. William Blair restated an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 18th. Finally, Cantor Fitzgerald boosted their target price on shares of Palantir Technologies from $72.00 to $98.00 and gave the company a “neutral” rating in a research report on Tuesday. Six research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Palantir Technologies presently has an average rating of “Hold” and a consensus price target of $69.44.

Palantir Technologies Stock Up 9.8 %

Shares of Palantir Technologies stock opened at $111.28 on Tuesday. Palantir Technologies has a twelve month low of $20.33 and a twelve month high of $111.55. The company has a 50-day simple moving average of $75.56 and a two-hundred day simple moving average of $52.26. The stock has a market capitalization of $253.50 billion, a price-to-earnings ratio of 556.43, a price-to-earnings-growth ratio of 7.54 and a beta of 2.81.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.01. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The business had revenue of $725.52 million during the quarter, compared to analysts’ expectations of $705.11 million. During the same quarter in the previous year, the company earned $0.03 EPS. The business’s revenue was up 30.0% on a year-over-year basis. On average, sell-side analysts anticipate that Palantir Technologies will post 0.19 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Alexander C. Karp sold 4,500,000 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $63.10, for a total value of $283,950,000.00. Following the sale, the insider now directly owns 6,432,258 shares of the company’s stock, valued at approximately $405,875,479.80. This represents a 41.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 11,794 shares of the company’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $102.80, for a total transaction of $1,212,423.20. Following the completion of the sale, 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 disclosure for this sale can be found here. Insiders have sold 15,656,687 shares of company stock valued at $1,040,105,687 in the last ninety days. 12.93% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Palantir Technologies

A number of institutional investors have recently modified their holdings of PLTR. Czech National Bank bought a new stake in shares of Palantir Technologies in the 3rd quarter valued at $15,261,000. GAMMA Investing LLC lifted its position in shares of Palantir Technologies by 83.9% during the 3rd quarter. GAMMA Investing LLC now owns 5,713 shares of the company’s stock valued at $213,000 after acquiring an additional 2,607 shares during the period. Azzad Asset Management Inc. ADV acquired a new position in shares of Palantir Technologies during the 3rd quarter valued at $209,000. Diversified Trust Co lifted its position in shares of Palantir Technologies by 172.7% during the 3rd quarter. Diversified Trust Co now owns 21,559 shares of the company’s stock valued at $802,000 after acquiring an additional 13,652 shares during the period. Finally, Smith Anglin Financial LLC acquired a new position in shares of Palantir Technologies during the 3rd quarter valued at $273,000. 45.65% of the stock is owned by 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.