Royal Bank of Canada Boosts Palantir Technologies (NASDAQ:PLTR) Price Target to $40.00

Palantir Technologies (NASDAQ:PLTR) had its price objective increased by equities research analysts at Royal Bank of Canada from $11.00 to $40.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “underperform” rating on the stock. Royal Bank of Canada’s price objective indicates a potential downside of 60.54% from the stock’s previous close.

A number of other brokerages have also issued reports on PLTR. UBS Group boosted their target price on shares of Palantir Technologies from $80.00 to $105.00 and gave the stock a “neutral” rating in a research report on Tuesday. Argus lowered shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. DA Davidson boosted their price target on Palantir Technologies from $47.00 to $105.00 and gave the company a “neutral” rating in a research note on Tuesday. Morgan Stanley raised Palantir Technologies from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $60.00 to $95.00 in a report on Tuesday. Finally, Robert W. Baird lifted their price objective on Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a report on Tuesday. Six equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $69.44.

Palantir Technologies Trading Down 2.4 %

NASDAQ:PLTR opened at $101.36 on Tuesday. The business’s fifty day moving average price is $74.85 and its 200 day moving average price 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 has a 1-year low of $19.76 and a 1-year high of $106.91.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.09 by $0.01. The business had revenue of $725.52 million during the quarter, compared to analysts’ expectations of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The firm’s quarterly revenue was up 30.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.03 EPS. Equities analysts forecast that Palantir Technologies will post 0.19 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Lauren Elaina Friedman Stat sold 8,860 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $58.06, for a total transaction of $514,411.60. Following the transaction, the director now owns 121,390 shares of the company’s stock, valued at $7,047,903.40. This represents a 6.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Alexander C. Karp sold 1,823,602 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $63.12, for a total transaction of $115,105,758.24. Following the sale, the insider now directly owns 6,432,258 shares of the company’s stock, valued at approximately $406,004,124.96. This trade represents a 22.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 15,653,753 shares of company stock worth $1,039,407,675 in the last 90 days. Corporate insiders own 12.93% of the company’s stock.

Institutional Trading of Palantir Technologies

A number of hedge funds have recently modified their holdings of PLTR. SRS Capital Advisors Inc. boosted its position in shares of Palantir Technologies by 133.2% during the fourth quarter. SRS Capital Advisors Inc. now owns 921 shares of the company’s stock worth $70,000 after purchasing an additional 526 shares in the last quarter. Asahi Life Asset Management CO. LTD. acquired a new position in Palantir Technologies in the fourth quarter valued at about $673,000. Norden Group LLC bought a new stake in shares of Palantir Technologies in the fourth quarter worth about $397,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Palantir Technologies during the fourth quarter worth about $46,000. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of Palantir Technologies by 124.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 12,842 shares of the company’s stock valued at $991,000 after purchasing an additional 7,126 shares in the last quarter. 45.65% of the stock is currently 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.