Bank of America Boosts Palantir Technologies (NASDAQ:PLTR) Price Target to $125.00

Palantir Technologies (NASDAQ:PLTR) had its price target increased by research analysts at Bank of America from $90.00 to $125.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Bank of America‘s target price indicates a potential upside of 23.32% from the stock’s current price.

Several other equities analysts have also recently issued reports on PLTR. Cantor Fitzgerald began coverage on Palantir Technologies in a report on Friday, January 17th. They issued a “neutral” rating and a $72.00 price target on the stock. Wedbush raised their target price on shares of Palantir Technologies from $75.00 to $90.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. Mizuho lifted their price target on shares of Palantir Technologies from $44.00 to $80.00 and gave the stock an “underperform” rating in a research report on Tuesday. Jefferies Financial Group cut shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price objective on the stock. in a research note on Thursday, November 7th. Finally, William Blair reiterated an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 18th. Six investment analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Palantir Technologies currently has a consensus rating of “Hold” and a consensus price target of $69.44.

Palantir Technologies Trading Down 2.4 %

Shares of PLTR stock opened at $101.36 on Tuesday. Palantir Technologies has a 1 year low of $19.76 and a 1 year high of $106.91. The firm’s 50 day moving average is $74.85 and its 200-day moving average is $51.92. The firm has a market capitalization of $230.90 billion, a price-to-earnings ratio of 506.83, a PEG ratio of 7.54 and a beta of 2.81.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.01. The firm had revenue of $725.52 million for 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 business’s revenue for the quarter was up 30.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.03 EPS. On average, equities research analysts forecast that Palantir Technologies will post 0.19 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Alexander C. Karp sold 38,093 shares of the stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $63.01, for a total transaction of $2,400,239.93. Following the completion of the transaction, the insider now directly owns 6,432,258 shares in the company, valued at approximately $405,296,576.58. This trade represents a 0.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 8,860 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $58.06, for a total value of $514,411.60. Following the completion of the sale, the director now owns 121,390 shares in the company, valued at $7,047,903.40. The trade was a 6.80 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,653,753 shares of company stock worth $1,039,407,675. Company insiders own 12.93% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

Several hedge funds have recently made changes to their positions in the business. State Street Corp grew its position in Palantir Technologies by 96.4% in the third quarter. State Street Corp now owns 82,512,440 shares of the company’s stock valued at $3,069,463,000 after purchasing 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 3rd quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock worth $1,777,568,000 after buying an additional 16,598,253 shares during the last quarter. International Assets Investment Management LLC boosted its stake in shares of Palantir Technologies by 3,476.2% during the 3rd quarter. International Assets Investment Management LLC now owns 6,832,301 shares of the company’s stock worth $254,162,000 after buying an additional 6,641,253 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of 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 acquiring an additional 4,667,955 shares in the last quarter. Finally, Lord Abbett & CO. LLC increased its position in shares of Palantir Technologies by 943.2% in the third quarter. Lord Abbett & CO. LLC now owns 3,300,766 shares of the company’s stock valued at $122,788,000 after acquiring an additional 2,984,348 shares during the last quarter. 45.65% of the stock is owned by institutional investors.

About Palantir Technologies

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.