Palantir Technologies (NYSE:PLTR) PT Raised to $30.00

Palantir Technologies (NYSE:PLTR) had its price target hoisted by Mizuho from $24.00 to $30.00 in a research report released on Thursday morning, Benzinga reports. They currently have an underperform rating on the stock.

Several other analysts have also recently weighed in on PLTR. Monness Crespi & Hardt decreased their price objective on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating on the stock in a research note on Tuesday, August 6th. Royal Bank of Canada restated an “underperform” rating and set a $9.00 price target on shares of Palantir Technologies in a research report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft lifted their price objective on Palantir Technologies from $20.00 to $21.00 and gave the company a “sell” rating in a research report on Tuesday, August 6th. Raymond James cut Palantir Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. Finally, Bank of America raised their target price on Palantir Technologies from $30.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Five equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Palantir Technologies presently has an average rating of “Hold” and an average target price of $27.86.

Palantir Technologies Trading Up 2.3 %

Shares of PLTR opened at $42.97 on Thursday. The stock has a market cap of $96.23 billion, a PE ratio of 252.78 and a beta of 2.72. Palantir Technologies has a 1 year low of $14.48 and a 1 year high of $44.39. The stock has a 50 day simple moving average of $35.60 and a 200-day simple moving average of $28.13.

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

Insider Activity

In related news, Director Lauren Elaina Friedman Stat sold 3,050 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $26.43, for a total transaction of $80,611.50. Following the completion of the sale, the director now directly owns 65,989 shares of the company’s stock, valued at $1,744,089.27. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, insider Alexander C. Karp sold 4,500,000 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $36.07, for a total transaction of $162,315,000.00. Following the completion of the transaction, the insider now directly owns 6,432,258 shares in the company, valued at approximately $232,011,546.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 3,050 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $26.43, for a total value of $80,611.50. Following the completion of the sale, the director now directly owns 65,989 shares of the company’s stock, valued at approximately $1,744,089.27. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 17,747,176 shares of company stock valued at $646,951,347. 12.93% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Summit Securities Group LLC bought a new position in shares of Palantir Technologies during the second quarter worth $25,000. Farmers & Merchants Investments Inc. acquired a new position in Palantir Technologies in the second quarter valued at about $25,000. West Paces Advisors Inc. grew its stake in Palantir Technologies by 110.7% in the first quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock valued at $27,000 after acquiring an additional 620 shares during the period. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Palantir Technologies in the second quarter worth about $30,000. Finally, Massmutual Trust Co. FSB ADV raised its position in shares of Palantir Technologies by 105.3% during the first quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock worth $31,000 after purchasing an additional 691 shares during the period. Institutional investors and hedge funds 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.