DA Davidson Forecasts Strong Price Appreciation for Palantir Technologies (NYSE:PLTR) Stock

Palantir Technologies (NYSE:PLTR) had its price objective boosted by DA Davidson from $28.00 to $47.00 in a research note issued to investors on Tuesday,Benzinga reports. DA Davidson currently has a neutral rating on the stock. DA Davidson also issued estimates for Palantir Technologies’ Q4 2024 earnings at $0.07 EPS, FY2024 earnings at $0.21 EPS and FY2025 earnings at $0.29 EPS.

Other research analysts also recently issued research reports about the company. Royal Bank of Canada restated an “underperform” rating and issued a $9.00 target price on shares of Palantir Technologies in a research note on Tuesday, August 6th. The Goldman Sachs Group increased their target price on shares of Palantir Technologies from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Northland Capmk raised shares of Palantir Technologies to a “hold” rating in a research report on Thursday, August 22nd. Citigroup lifted their target price on shares of Palantir Technologies from $25.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Finally, Northland Securities upped their price target on shares of Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a report on Tuesday. Six research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, Palantir Technologies currently has a consensus rating of “Hold” and a consensus price target of $31.71.

Palantir Technologies Stock Up 4.5 %

Shares of NYSE:PLTR opened at $58.42 on Tuesday. The company has a market cap of $130.83 billion, a P/E ratio of 290.86 and a beta of 2.70. The company’s fifty day moving average is $39.60 and its two-hundred day moving average is $30.33. Palantir Technologies has a 12-month low of $15.66 and a 12-month high of $58.48.

Palantir Technologies (NYSE:PLTR) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.09 by $0.01. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The business had revenue of $725.52 million during the quarter, compared to analysts’ expectations of $705.11 million. During the same period last 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. Equities research analysts anticipate that Palantir Technologies will post 0.19 earnings per share for the current year.

Insider Buying and Selling

In other Palantir Technologies news, insider Alexander C. Karp sold 4,500,000 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $55.03, for a total value of $247,635,000.00. Following the completion of the transaction, the insider now owns 6,432,258 shares of the company’s stock, valued at $353,967,157.74. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider David A. Glazer sold 72,500 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $31.18, for a total transaction of $2,260,550.00. Following the completion of the transaction, the insider now directly owns 298,012 shares of the company’s stock, valued at approximately $9,292,014.16. This trade 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, insider Alexander C. Karp sold 4,500,000 shares of Palantir Technologies stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $55.03, for a total transaction of $247,635,000.00. Following the sale, the insider now owns 6,432,258 shares in the company, valued at approximately $353,967,157.74. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 25,482,878 shares of company stock valued at $1,044,202,496 over the last three months. 12.93% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of Palantir Technologies by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 196,834,580 shares of the company’s stock valued at $4,529,164,000 after purchasing an additional 3,029,317 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its stake in Palantir Technologies by 5.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,982,925 shares of the company’s stock valued at $557,365,000 after buying an additional 808,444 shares in the last quarter. ARK Investment Management LLC grew its position in Palantir Technologies by 2.2% in the second quarter. ARK Investment Management LLC now owns 13,023,099 shares of the company’s stock valued at $329,875,000 after acquiring an additional 277,623 shares during the period. Legal & General Group Plc raised its stake in Palantir Technologies by 1.4% during the second quarter. Legal & General Group Plc now owns 11,917,200 shares of the company’s stock worth $301,871,000 after acquiring an additional 167,030 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Palantir Technologies by 4.2% during the second quarter. Bank of New York Mellon Corp now owns 7,326,275 shares of the company’s stock valued at $185,575,000 after acquiring an additional 292,885 shares during the period. Institutional investors own 45.65% of the company’s stock.

About Palantir Technologies

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.