Palantir Technologies (NYSE:PLTR) Reaches New 52-Week High – Should You Buy?

Palantir Technologies Inc. (NYSE:PLTR)’s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as $41.91 and last traded at $41.44, with a volume of 3078936 shares. The stock had previously closed at $41.45.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on PLTR shares. Wedbush upped their target price on Palantir Technologies from $38.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, September 26th. Deutsche Bank Aktiengesellschaft raised their price objective on Palantir Technologies from $20.00 to $21.00 and gave the stock a “sell” rating in a research note on Tuesday, August 6th. The Goldman Sachs Group upped their price target on shares of Palantir Technologies from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Bank of America boosted their price objective on Palantir Technologies from $30.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Finally, Jefferies Financial Group raised their target price on Palantir Technologies from $24.00 to $28.00 and gave the stock a “hold” rating in a report on Monday, July 29th. Five research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $27.29.

Palantir Technologies Stock Up 2.7 %

The company has a market capitalization of $95.31 billion, a price-to-earnings ratio of 345.45 and a beta of 2.72. The stock’s 50-day simple moving average is $33.03 and its two-hundred day simple moving average is $27.05.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings results on Monday, August 5th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.01). Palantir Technologies had a return on equity of 8.88% and a net margin of 16.32%. The company had revenue of $678.13 million for the quarter, compared to analyst estimates of $653.23 million. During the same quarter last year, the company earned $0.01 EPS. The firm’s revenue for the quarter was up 27.2% on a year-over-year basis. On average, sell-side analysts forecast that Palantir Technologies Inc. will post 0.19 EPS for the current year.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider David A. Glazer sold 90,000 shares of Palantir Technologies stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $29.36, for a total transaction of $2,642,400.00. Following the sale, the insider now owns 298,012 shares of the company’s stock, valued at $8,749,632.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Palantir Technologies news, insider David A. Glazer sold 90,000 shares of the stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $29.36, for a total value of $2,642,400.00. Following the completion of the sale, the insider now owns 298,012 shares in the company, valued at approximately $8,749,632.32. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 3,050 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $26.43, for a total value of $80,611.50. Following the transaction, the director now owns 65,989 shares in the company, valued at approximately $1,744,089.27. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,831,855 shares of company stock valued at $649,330,295. 12.93% of the stock is owned by insiders.

Institutional Investors Weigh In On Palantir Technologies

A number of hedge funds have recently modified their holdings of PLTR. Cibc World Markets Corp purchased a new stake in Palantir Technologies in the 4th quarter valued at about $883,000. Prudential PLC grew its stake in shares of Palantir Technologies by 15.4% in the fourth quarter. Prudential PLC now owns 70,062 shares of the company’s stock valued at $1,203,000 after buying an additional 9,327 shares in the last quarter. Connectus Wealth LLC purchased a new stake in shares of Palantir Technologies in the 4th quarter valued at $1,129,000. Elo Mutual Pension Insurance Co lifted its stake in Palantir Technologies by 6.2% during the 4th quarter. Elo Mutual Pension Insurance Co now owns 161,134 shares of the company’s stock worth $2,767,000 after acquiring an additional 9,445 shares in the last quarter. Finally, Regal Investment Advisors LLC boosted its holdings in Palantir Technologies by 3.0% during the 4th quarter. Regal Investment Advisors LLC now owns 50,812 shares of the company’s stock valued at $872,000 after acquiring an additional 1,472 shares during the period. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies Company Profile

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.