Palantir Technologies (NASDAQ:PLTR) Given New $90.00 Price Target at Wedbush

Palantir Technologies (NASDAQ:PLTR - Free Report) had its price objective raised by Wedbush from $75.00 to $90.00 in a research note published on Thursday, MarketBeat.com reports. Wedbush currently has an outperform rating on the stock.

A number of other brokerages also recently weighed in on PLTR. Robert W. Baird began coverage on shares of Palantir Technologies in a research note on Thursday, December 12th. They set a "neutral" rating and a $70.00 target price for the company. William Blair restated an "underperform" rating on shares of Palantir Technologies in a report on Wednesday, December 18th. Argus lowered shares of Palantir Technologies from a "buy" rating to a "hold" rating in a research note on Thursday, November 7th. Bank of America boosted their target price on shares of Palantir Technologies from $55.00 to $75.00 and gave the company a "buy" rating in a research report on Monday, November 25th. Finally, Baird R W upgraded shares of Palantir Technologies to a "hold" rating in a report on Thursday, December 12th. Seven analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Palantir Technologies has an average rating of "Hold" and an average target price of $44.61.

Palantir Technologies Stock Performance

Shares of PLTR stock remained flat at $78.98 during trading hours on Thursday. 77,694,969 shares of the stock traded hands, compared to its average volume of 70,513,930. Palantir Technologies has a 12-month low of $16.03 and a 12-month high of $84.80. The stock has a market cap of $179.92 billion, a PE ratio of 394.92, a PEG ratio of 7.08 and a beta of 2.82. The firm has a 50 day moving average price of $71.70 and a 200 day moving average price of $48.53.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $725.52 million during the quarter, compared to the consensus estimate of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The firm's revenue was up 30.0% compared to the same quarter last year. During the same period last year, the company earned $0.03 earnings per share. Equities analysts forecast that Palantir Technologies will post 0.2 earnings per share for the current fiscal year.

Insider Activity at Palantir Technologies

In other news, Director Alexandra W. Schiff sold 4,000 shares of Palantir Technologies stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $71.63, for a total transaction of $286,520.00. Following the sale, the director now directly owns 195,393 shares in the company, valued at $13,996,000.59. The trade was a 2.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Shyam Sankar sold 5,250,000 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $70.08, for a total transaction of $367,920,000.00. Following the transaction, the insider now owns 752,786 shares of the company's stock, valued at approximately $52,755,242.88. The trade was a 87.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,518,855 shares of company stock valued at $1,438,682,423 over the last ninety days. Corporate insiders own 12.93% of the company's stock.

Hedge Funds Weigh In On Palantir Technologies

Institutional investors and hedge funds have recently bought and sold shares of the company. Cullinan Associates Inc. bought a new position in Palantir Technologies during the fourth quarter worth about $303,000. First Dallas Securities Inc. bought a new position in Palantir Technologies in the 4th quarter worth approximately $257,000. Clay Northam Wealth Management LLC grew its stake in Palantir Technologies by 25.2% in the 4th quarter. Clay Northam Wealth Management LLC now owns 10,404 shares of the company's stock valued at $787,000 after buying an additional 2,095 shares in the last quarter. Trust Point Inc. bought a new stake in Palantir Technologies during the 4th quarter valued at $419,000. Finally, Childress Capital Advisors LLC purchased a new stake in shares of Palantir Technologies during the fourth quarter worth $372,000. 45.65% of the stock is owned by institutional investors.

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.