Palantir Technologies (NYSE:PLTR - Free Report) had its price objective hoisted by Bank of America from $30.00 to $50.00 in a report issued on Tuesday, Benzinga reports. They currently have a buy rating on the stock.
A number of other analysts have also recently commented on PLTR. Wedbush restated an outperform rating and set a $38.00 target price on shares of Palantir Technologies in a report on Monday. Northland Securities assumed coverage on shares of Palantir Technologies in a research note on Thursday, August 22nd. They set a market perform rating and a $35.00 target price for the company. Citigroup boosted their price target on Palantir Technologies from $25.00 to $28.00 and gave the stock a neutral rating in a research report on Tuesday, July 30th. Jefferies Financial Group raised their price objective on Palantir Technologies from $24.00 to $28.00 and gave the company a hold rating in a research report on Monday, July 29th. Finally, Argus started coverage on Palantir Technologies in a research note on Monday, June 17th. They issued a buy rating and a $29.00 target price on the stock. Five investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Palantir Technologies presently has an average rating of Hold and a consensus price target of $26.79.
View Our Latest Analysis on Palantir Technologies
Palantir Technologies Stock Up 0.4 %
Shares of PLTR traded up $0.15 during trading hours on Tuesday, reaching $34.75. 91,404,368 shares of the company traded hands, compared to its average volume of 54,924,242. Palantir Technologies has a 12 month low of $13.68 and a 12 month high of $35.20. The company has a market capitalization of $77.38 billion, a price-to-earnings ratio of 289.58, a price-to-earnings-growth ratio of 5.35 and a beta of 2.72. The company's fifty day moving average price is $28.98 and its two-hundred day moving average price is $25.19.
Palantir Technologies (NYSE:PLTR - Get Free Report) last posted its earnings results on Monday, August 5th. The company reported $0.03 earnings per share for the quarter, missing analysts' consensus estimates of $0.04 by ($0.01). The firm had revenue of $678.13 million for the quarter, compared to analysts' expectations of $653.23 million. Palantir Technologies had a return on equity of 8.88% and a net margin of 16.32%. The firm's revenue was up 27.2% on a year-over-year basis. During the same quarter last year, the company posted $0.01 EPS. On average, analysts expect that Palantir Technologies will post 0.19 EPS for the current year.
Insider Buying and Selling at Palantir Technologies
In related news, Director Eric H. Woersching sold 3,000 shares of Palantir Technologies stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $24.24, for a total value of $72,720.00. Following the completion of the sale, the director now owns 35,843 shares of the company's stock, valued at $868,834.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Palantir Technologies news, Director Eric H. Woersching sold 3,000 shares of the company's stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $24.24, for a total value of $72,720.00. Following the completion of the sale, the director now owns 35,843 shares in the company, valued at $868,834.32. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider David A. Glazer sold 90,000 shares of Palantir Technologies stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $29.36, for a total value of $2,642,400.00. Following the transaction, the insider now directly owns 298,012 shares in the company, valued at $8,749,632.32. The disclosure for this sale can be found here. In the last ninety days, insiders sold 701,649 shares of company stock worth $21,526,716. Insiders own 12.93% of the company's stock.
Institutional Trading of Palantir Technologies
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Palantir Technologies by 1.6% in the first quarter. Vanguard Group Inc. now owns 196,834,580 shares of the company's stock worth $4,529,164,000 after buying an additional 3,029,317 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Palantir Technologies by 15.7% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 14,571,224 shares of the company's stock valued at $335,284,000 after purchasing an additional 1,980,495 shares in the last quarter. ARK Investment Management LLC grew its holdings in Palantir Technologies by 2.2% during the 2nd quarter. ARK Investment Management LLC now owns 13,023,099 shares of the company's stock valued at $329,875,000 after buying an additional 277,623 shares in the last quarter. Legal & General Group Plc increased its stake in Palantir Technologies by 1.4% in the 2nd quarter. Legal & General Group Plc now owns 11,917,200 shares of the company's stock worth $301,871,000 after acquiring an additional 167,030 shares during the last quarter. Finally, Nikko Asset Management Americas Inc. boosted its position in shares of Palantir Technologies by 19.2% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 9,829,631 shares of the company's stock valued at $226,180,000 after acquiring an additional 1,580,548 shares during the last quarter. Institutional investors own 45.65% of the company's stock.
About Palantir Technologies
(
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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.
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