Palantir Technologies (NASDAQ:PLTR) Hits New 12-Month High After Analyst Upgrade

Shares of Palantir Technologies Inc. (NASDAQ:PLTR) hit a new 52-week high during mid-day trading on Thursday after Citigroup raised their price target on the stock from $42.00 to $110.00. Citigroup currently has a neutral rating on the stock. Palantir Technologies traded as high as $108.19 and last traded at $107.09, with a volume of 41032045 shares. The stock had previously closed at $101.36.

Several other equities research analysts also recently commented on the stock. Mizuho boosted their target price on shares of Palantir Technologies from $44.00 to $80.00 and gave the company an “underperform” rating in a research note on Tuesday. Robert W. Baird boosted their target price on shares of Palantir Technologies from $70.00 to $100.00 and gave the company a “neutral” rating in a research note on Tuesday. Wedbush boosted 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. DA Davidson boosted their target price on shares of Palantir Technologies from $47.00 to $105.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, William Blair restated an “underperform” rating on shares of Palantir Technologies in a research note on Wednesday, December 18th. Six equities research 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. According to MarketBeat.com, Palantir Technologies has an average rating of “Hold” and a consensus price target of $69.44.

Insiders Place Their Bets

In other news, Director Lauren Elaina Friedman Stat sold 800 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $76.29, for a total value of $61,032.00. Following the completion of the sale, the director now directly owns 62,139 shares of the company’s stock, valued at $4,740,584.31. This represents a 1.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Alexandra W. Schiff sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total value of $286,520.00. Following the completion of the transaction, the director now owns 195,393 shares of the company’s stock, valued at $13,996,000.59. This represents a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 15,656,687 shares of company stock valued at $1,040,105,687. 12.93% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Palantir Technologies

Several institutional investors and hedge funds have recently modified their holdings of PLTR. Northwest Investment Counselors LLC bought a new position in shares of Palantir Technologies during the 3rd quarter worth approximately $25,000. Prestige Wealth Management Group LLC grew its stake in shares of Palantir Technologies by 747.1% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after acquiring an additional 650 shares in the last quarter. Roxbury Financial LLC bought a new position in shares of Palantir Technologies during the 4th quarter worth approximately $27,000. First PREMIER Bank bought a new position in shares of Palantir Technologies during the 4th quarter worth approximately $28,000. Finally, Wolff Wiese Magana LLC grew its stake in shares of Palantir Technologies by 230.4% during the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock worth $29,000 after acquiring an additional 265 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Palantir Technologies Trading Up 9.8 %

The company has a market capitalization of $253.50 billion, a P/E ratio of 556.43, a PEG ratio of 7.54 and a beta of 2.81. The firm’s 50 day moving average price is $75.56 and its two-hundred day moving average price is $52.26.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share 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 company had revenue of $725.52 million during the quarter, compared to analysts’ expectations of $705.11 million. During the same period last year, the business earned $0.03 EPS. The business’s quarterly revenue was up 30.0% on a year-over-year basis. Analysts anticipate that Palantir Technologies Inc. will post 0.19 earnings per share for the current fiscal year.

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.