Palantir Technologies (NYSE:PLTR) Stock Price Up 0.9% Following Analyst Upgrade

Palantir Technologies Inc. (NYSE:PLTR - Get Free Report) rose 0.9% on Friday after Mizuho raised their price target on the stock from $24.00 to $30.00. Mizuho currently has an underperform rating on the stock. Palantir Technologies traded as high as $42.45 and last traded at $42.38. Approximately 8,155,021 shares were traded during trading, a decline of 86% from the average daily volume of 56,957,137 shares. The stock had previously closed at $42.00.

Several other brokerages have also commented on PLTR. DA Davidson upped their price target on Palantir Technologies from $24.00 to $28.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 6th. Citigroup increased their target price on Palantir Technologies from $25.00 to $28.00 and gave the company a "neutral" rating in a research note on Tuesday, July 30th. Raymond James lowered Palantir Technologies from an "outperform" rating to a "market perform" rating in a research note on Monday, September 23rd. Bank of America increased their target price on Palantir Technologies from $30.00 to $50.00 and gave the company a "buy" rating in a research note on Tuesday, September 10th. Finally, Northland Capmk upgraded Palantir Technologies to a "hold" rating in a research note on Thursday, August 22nd. Five equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $27.86.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 3,050 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $26.43, for a total transaction of $80,611.50. Following the transaction, the director now owns 65,989 shares of the company's stock, valued at $1,744,089.27. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 3,050 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $26.43, for a total transaction of $80,611.50. Following the transaction, the director now owns 65,989 shares of the company's stock, valued at $1,744,089.27. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Heather A. Planishek sold 20,000 shares of the stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $39.95, for a total value of $799,000.00. Following the transaction, the insider now directly owns 562,006 shares in the company, valued at approximately $22,452,139.70. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,747,176 shares of company stock valued at $646,951,347. Insiders own 12.93% of the company's stock.

Institutional Trading of Palantir Technologies

Hedge funds have recently made changes to their positions in the stock. Summit Securities Group LLC bought a new stake in shares of Palantir Technologies in the 2nd quarter worth approximately $25,000. Farmers & Merchants Investments Inc. bought a new stake in shares of Palantir Technologies in the 2nd quarter worth approximately $25,000. West Paces Advisors Inc. lifted its holdings in shares of Palantir Technologies by 110.7% in the 1st quarter. West Paces Advisors Inc. now owns 1,180 shares of the company's stock worth $27,000 after purchasing an additional 620 shares during the last quarter. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Palantir Technologies in the 2nd quarter worth approximately $30,000. Finally, Massmutual Trust Co. FSB ADV lifted its holdings in shares of Palantir Technologies by 105.3% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company's stock worth $31,000 after purchasing an additional 691 shares during the last quarter. Institutional investors own 45.65% of the company's stock.

Palantir Technologies Stock Performance

The firm has a market cap of $96.18 billion, a P/E ratio of 252.66 and a beta of 2.72. The firm has a fifty day moving average of $35.60 and a 200-day moving average of $28.06.

Palantir Technologies (NYSE:PLTR - Get Free Report) last posted its earnings results on Monday, August 5th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01). Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. The business had revenue of $678.13 million during the quarter, compared to analyst estimates of $653.23 million. During the same quarter in the prior year, the business earned $0.01 earnings per share. The firm's revenue was up 27.2% compared to the same quarter last year. Equities research analysts expect that Palantir Technologies Inc. will post 0.19 earnings per share for the current year.

About Palantir Technologies

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.