Palantir Technologies (NASDAQ:PLTR) Coverage Initiated at Cantor Fitzgerald

Analysts at Cantor Fitzgerald assumed coverage on shares of Palantir Technologies (NASDAQ:PLTR - Get Free Report) in a research report issued to clients and investors on Friday, Marketbeat.com reports. The firm set a "neutral" rating and a $72.00 price target on the stock. Cantor Fitzgerald's target price points to a potential upside of 0.32% from the company's previous close.

Several other research analysts have also recently commented on PLTR. William Blair reissued an "underperform" rating on shares of Palantir Technologies in a research note on Wednesday, December 18th. Jefferies Financial Group downgraded Palantir Technologies from a "hold" rating to an "underperform" rating and set a $28.00 price objective for the company. in a research report on Thursday, November 7th. Bank of America raised their target price on shares of Palantir Technologies from $55.00 to $75.00 and gave the company a "buy" rating in a report on Monday, November 25th. Northland Securities boosted their price target on shares of Palantir Technologies from $35.00 to $38.00 and gave the stock a "market perform" rating in a report on Tuesday, November 5th. Finally, Robert W. Baird began coverage on shares of Palantir Technologies in a report on Thursday, December 12th. They issued a "neutral" rating and a $70.00 price objective on the stock. Seven analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Palantir Technologies presently has an average rating of "Hold" and a consensus price target of $43.78.

Palantir Technologies Trading Up 3.7 %

Palantir Technologies stock traded up $2.53 during midday trading on Friday, reaching $71.77. 54,590,923 shares of the stock traded hands, compared to its average volume of 79,745,712. The firm has a market cap of $163.49 billion, a PE ratio of 358.87, a price-to-earnings-growth ratio of 6.24 and a beta of 2.82. The company has a 50-day simple moving average of $70.49 and a two-hundred day simple moving average of $47.17. Palantir Technologies has a 12-month low of $16.03 and a 12-month high of $84.80.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings data 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. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The firm 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 business posted $0.03 earnings per share. The business's quarterly revenue was up 30.0% compared to the same quarter last year. Equities research analysts anticipate that Palantir Technologies will post 0.2 earnings per share for the current year.

Insider Activity at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 8,054 shares of the company's stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $50.49, for a total value of $406,646.46. Following the sale, the director now owns 130,250 shares of the company's stock, valued at approximately $6,576,322.50. This represents a 5.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Alexander C. Karp sold 3,337,048 shares of the firm's stock in a transaction on Monday, October 28th. The stock was sold at an average price of $45.02, for a total value of $150,233,900.96. Following the transaction, the insider now directly owns 6,432,258 shares of the company's stock, valued at $289,580,255.16. The trade was a 34.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,642,189 shares of company stock valued at $1,444,232,453 in the last ninety days. Corporate insiders own 12.93% of the company's stock.

Institutional Trading of Palantir Technologies

A number of large investors have recently made changes to their positions in the stock. Apeiron RIA LLC purchased a new position in shares of Palantir Technologies during the fourth quarter valued at approximately $244,000. Secure Asset Management LLC purchased a new position in shares of Palantir Technologies during the 4th quarter worth $511,000. IVC Wealth Advisors LLC purchased a new position in shares of Palantir Technologies during the 4th quarter worth $248,000. Donoghue Forlines LLC boosted its holdings in shares of Palantir Technologies by 47.8% during the fourth quarter. Donoghue Forlines LLC now owns 29,461 shares of the company's stock worth $2,228,000 after purchasing an additional 9,530 shares during the last quarter. Finally, Capital Planning Advisors LLC purchased a new stake in shares of Palantir Technologies in the fourth quarter valued at $562,000. Institutional investors and hedge funds own 45.65% of the company's stock.

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.