Palantir Technologies (NASDAQ:PLTR) Stock Rating Upgraded by Cantor Fitzgerald

Cantor Fitzgerald upgraded shares of Palantir Technologies (NASDAQ:PLTR - Free Report) to a hold rating in a research report sent to investors on Thursday, Marketbeat reports. The brokerage currently has $72.00 target price on the stock.

A number of other research firms have also recently commented on PLTR. Bank of America lifted their target price on Palantir Technologies from $55.00 to $75.00 and gave the stock a "buy" rating in a research report on Monday, November 25th. Wedbush boosted their price objective on Palantir Technologies from $57.00 to $75.00 and gave the company an "outperform" rating in a research note on Monday, November 25th. Mizuho increased their price objective on Palantir Technologies from $37.00 to $44.00 and gave the company an "underperform" rating in a report on Friday, December 13th. DA Davidson lifted their target price on shares of Palantir Technologies from $28.00 to $47.00 and gave the company a "neutral" rating in a report on Tuesday, November 5th. Finally, Northland Securities increased their price target on shares of Palantir Technologies from $35.00 to $38.00 and gave the stock a "market perform" rating in a research note on Tuesday, November 5th. Seven analysts have rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $43.78.

Palantir Technologies Stock Performance

Shares of NASDAQ:PLTR traded up $2.53 on Thursday, hitting $71.77. 54,590,923 shares of the company's stock were exchanged, compared to its average volume of 79,745,712. Palantir Technologies has a 1-year low of $16.03 and a 1-year high of $84.80. The company has a market capitalization of $163.49 billion, a PE ratio of 358.87, a P/E/G ratio of 6.24 and a beta of 2.82. The firm's 50-day moving average is $70.49 and its 200 day moving average is $47.17.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.09 by $0.01. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The firm had revenue of $725.52 million during the quarter, compared to the consensus estimate of $705.11 million. During the same period in the prior year, the company posted $0.03 earnings per share. The firm's quarterly revenue was up 30.0% compared to the same quarter last year. On average, analysts anticipate that Palantir Technologies will post 0.2 EPS for the current fiscal year.

Insiders Place Their Bets

In other Palantir Technologies news, insider Alexander C. Karp sold 3,337,048 shares of the business's stock in a transaction on Monday, October 28th. The stock was sold at an average price of $45.02, for a total transaction of $150,233,900.96. Following the sale, the insider now directly owns 6,432,258 shares in the company, valued at approximately $289,580,255.16. The trade was a 34.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ryan D. Taylor sold 123,334 shares of the firm's stock in a transaction on Friday, October 25th. The shares were sold at an average price of $45.00, for a total value of $5,550,030.00. Following the completion of the transaction, the insider now owns 331,369 shares of the company's stock, valued at approximately $14,911,605. This represents a 27.12 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 23,642,189 shares of company stock worth $1,444,232,453. Corporate insiders own 12.93% of the company's stock.

Institutional Investors Weigh In On Palantir Technologies

Large investors have recently added to or reduced their stakes in the business. State Street Corp increased its position in Palantir Technologies by 96.4% during the third quarter. State Street Corp now owns 82,512,440 shares of the company's stock worth $3,069,463,000 after buying an additional 40,498,024 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Palantir Technologies by 52.9% during the third quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company's stock valued at $1,777,568,000 after acquiring an additional 16,598,253 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in Palantir Technologies by 5.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,982,925 shares of the company's stock worth $557,365,000 after purchasing an additional 808,444 shares in the last quarter. FMR LLC raised its stake in Palantir Technologies by 8.8% in the 3rd quarter. FMR LLC now owns 12,478,281 shares of the company's stock valued at $464,192,000 after purchasing an additional 1,004,603 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Palantir Technologies by 60.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company's stock valued at $460,798,000 after purchasing an additional 4,667,955 shares in the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

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.