Royal Bank of Canada Forecasts Strong Price Appreciation for Palantir Technologies (NASDAQ:PLTR) Stock

Palantir Technologies (NASDAQ:PLTR - Get Free Report) had its target price boosted by research analysts at Royal Bank of Canada from $11.00 to $40.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has an "underperform" rating on the stock. Royal Bank of Canada's target price points to a potential downside of 63.92% from the stock's current price.

PLTR has been the topic of several other research reports. Baird R W upgraded Palantir Technologies to a "hold" rating in a research note on Thursday, December 12th. DA Davidson increased their target price on shares of Palantir Technologies from $47.00 to $105.00 and gave the stock a "neutral" rating in a report on Tuesday. Mizuho lifted their price target on shares of Palantir Technologies from $44.00 to $80.00 and gave the company an "underperform" rating in a research note on Tuesday. Wedbush boosted their price target on shares of Palantir Technologies from $75.00 to $90.00 and gave the stock an "outperform" rating in a research report on Thursday, January 23rd. Finally, Jefferies Financial Group lifted their target price on Palantir Technologies from $28.00 to $60.00 and gave the company an "underperform" rating in a research report on Tuesday. Six analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Palantir Technologies has a consensus rating of "Hold" and an average target price of $69.44.

Palantir Technologies Trading Down 0.4 %

Shares of PLTR stock traded down $0.43 during trading hours on Tuesday, hitting $110.85. 142,762,914 shares of the company were exchanged, compared to its average volume of 83,716,398. Palantir Technologies has a 52 week low of $20.33 and a 52 week high of $116.30. The business has a 50 day moving average of $76.46 and a two-hundred day moving average of $52.67. The company has a market capitalization of $252.52 billion, a PE ratio of 554.28, a PEG ratio of 7.54 and a beta of 2.81.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.09 by $0.01. The firm had revenue of $725.52 million during the quarter, compared to analysts' expectations of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The company's revenue was up 30.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.03 EPS. On average, research analysts forecast that Palantir Technologies will post 0.19 EPS for the current year.

Insider Buying and Selling

In other news, insider Stephen Andrew Cohen sold 450,000 shares of Palantir Technologies stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $70.95, for a total value of $31,927,500.00. Following the completion of the sale, the insider now directly owns 592 shares in the company, valued at approximately $42,002.40. The trade was a 99.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lauren Elaina Friedman Stat sold 9,746 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $66.77, for a total value of $650,740.42. Following the sale, the director now directly owns 111,644 shares in the company, valued at $7,454,469.88. This represents a 8.03 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,656,687 shares of company stock valued at $1,040,105,687. Insiders own 12.93% of the company's stock.

Institutional Investors Weigh In On Palantir Technologies

Several institutional investors and hedge funds have recently bought and sold shares of the company. Westover Capital Advisors LLC lifted its holdings in shares of Palantir Technologies by 1.8% during the 4th quarter. Westover Capital Advisors LLC now owns 7,330 shares of the company's stock worth $554,000 after acquiring an additional 130 shares during the period. Tritonpoint Wealth LLC lifted its stake in Palantir Technologies by 1.9% during the fourth quarter. Tritonpoint Wealth LLC now owns 7,100 shares of the company's stock worth $537,000 after purchasing an additional 132 shares during the last quarter. Twin Peaks Wealth Advisors LLC lifted its stake in Palantir Technologies by 2.2% during the fourth quarter. Twin Peaks Wealth Advisors LLC now owns 6,523 shares of the company's stock worth $493,000 after purchasing an additional 139 shares during the last quarter. RKL Wealth Management LLC boosted its holdings in shares of Palantir Technologies by 2.7% in the 4th quarter. RKL Wealth Management LLC now owns 5,689 shares of the company's stock valued at $430,000 after purchasing an additional 150 shares in the last quarter. Finally, Kennebec Savings Bank increased its stake in shares of Palantir Technologies by 29.5% in the 4th quarter. Kennebec Savings Bank now owns 698 shares of the company's stock valued at $53,000 after purchasing an additional 159 shares during the last quarter. Institutional investors own 45.65% of the company's stock.

Palantir Technologies Company Profile

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.