Palantir Technologies (NYSE:PLTR) Given New $75.00 Price Target at Bank of America

Palantir Technologies (NYSE:PLTR - Get Free Report) had its price target raised by equities researchers at Bank of America from $55.00 to $75.00 in a research report issued on Monday,Benzinga reports. The firm presently has a "buy" rating on the stock. Bank of America's price objective would indicate a potential upside of 16.59% from the stock's previous close.

A number of other equities research analysts have also commented on PLTR. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Palantir Technologies from $20.00 to $21.00 and gave the stock a "sell" rating in a report on Tuesday, August 6th. Raymond James lowered shares of Palantir Technologies from an "outperform" rating to a "market perform" rating in a report on Monday, September 23rd. Monness Crespi & Hardt dropped their price objective on shares of Palantir Technologies from $20.00 to $18.00 and set a "sell" rating on the stock in a report on Tuesday, August 6th. Mizuho lifted their price target on shares of Palantir Technologies from $30.00 to $37.00 and gave the company an "underperform" rating in a research note on Tuesday, November 5th. Finally, Wedbush lifted their price target on shares of Palantir Technologies from $38.00 to $45.00 and gave the company an "outperform" rating in a research note on Thursday, September 26th. Six investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Palantir Technologies presently has a consensus rating of "Hold" and a consensus target price of $35.64.

Palantir Technologies Price Performance

PLTR traded down $0.02 during mid-day trading on Monday, hitting $64.33. The stock had a trading volume of 68,342,516 shares, compared to its average volume of 58,860,746. The stock's fifty day simple moving average is $45.94 and its 200-day simple moving average is $33.48. The firm has a market capitalization of $146.55 billion, a price-to-earnings ratio of 327.52 and a beta of 2.70. Palantir Technologies has a 1-year low of $15.66 and a 1-year high of $67.88.

Palantir Technologies (NYSE:PLTR - Get Free Report) last posted its earnings results 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. The company had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The business's revenue for the quarter was up 30.0% compared to the same quarter last year. During the same period last year, the business posted $0.03 earnings per share. As a group, research analysts expect that Palantir Technologies will post 0.21 earnings per share for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In other news, insider Alexander C. Karp sold 4,500,000 shares of the business's stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $36.07, for a total value of $162,315,000.00. Following the completion of the transaction, the insider now directly owns 6,432,258 shares in the company, valued at approximately $232,011,546.06. The trade was a 41.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 8,860 shares of the company's stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $58.06, for a total transaction of $514,411.60. Following the transaction, the director now owns 121,390 shares of the company's stock, valued at approximately $7,047,903.40. This represents a 6.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,167,451 shares of company stock valued at $1,603,067,889 in the last quarter. Company insiders own 12.93% of the company's stock.

Hedge Funds Weigh In On Palantir Technologies

A number of institutional investors have recently added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB increased its position in Palantir Technologies by 48.7% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 17,538 shares of the company's stock worth $652,000 after purchasing an additional 5,747 shares in the last quarter. World Investment Advisors LLC bought a new stake in Palantir Technologies during the 3rd quarter worth approximately $347,000. M&T Bank Corp grew its holdings in Palantir Technologies by 37.0% during the 3rd quarter. M&T Bank Corp now owns 170,043 shares of the company's stock worth $6,326,000 after acquiring an additional 45,965 shares during the last quarter. Rehmann Capital Advisory Group bought a new stake in Palantir Technologies during the 3rd quarter worth approximately $381,000. Finally, Sunbelt Securities Inc. boosted its stake in shares of Palantir Technologies by 700.0% in the 3rd quarter. Sunbelt Securities Inc. now owns 1,960 shares of the company's stock valued at $73,000 after purchasing an additional 1,715 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Palantir Technologies Company Profile

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. The company provides Palantir Gotham, a software platform which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.