Palantir Technologies (NYSE:PLTR) Price Target Raised to $44.00

Palantir Technologies (NYSE:PLTR) had its target price raised by Mizuho from $37.00 to $44.00 in a research report sent to investors on Friday,Benzinga reports. Mizuho currently has an underperform rating on the stock.

A number of other research firms have also issued reports on PLTR. Wedbush boosted their price target on shares of Palantir Technologies from $57.00 to $75.00 and gave the company an “outperform” rating in a report on Monday, November 25th. Jefferies Financial Group downgraded shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 target price on the stock. in a research note on Thursday, November 7th. DA Davidson raised their target price on Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. The Goldman Sachs Group lifted their price target on Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, Bank of America increased their price objective on Palantir Technologies from $55.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Six analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Palantir Technologies currently has a consensus rating of “Hold” and an average target price of $38.40.

Palantir Technologies Stock Performance

Shares of NYSE:PLTR opened at $76.07 on Friday. The company has a market capitalization of $173.29 billion, a PE ratio of 475.44, a price-to-earnings-growth ratio of 10.18 and a beta of 2.87. The stock has a fifty day moving average of $55.75 and a 200-day moving average of $38.63. Palantir Technologies has a one year low of $15.66 and a one year high of $80.91.

Palantir Technologies (NYSE:PLTR) last announced its earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The company had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. During the same period in the previous year, the firm earned $0.03 earnings per share. Palantir Technologies’s revenue for the quarter was up 30.0% compared to the same quarter last year. As a group, research analysts forecast that Palantir Technologies will post 0.21 EPS for the current fiscal year.

Insider Transactions at Palantir Technologies

In related news, Director Peter Thiel sold 4,254,666 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $36.77, for a total value of $156,444,068.82. Following the transaction, the director now directly owns 51,234,275 shares of the company’s stock, valued at approximately $1,883,884,291.75. This trade represents a 7.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lauren Elaina Friedman Stat sold 6,655 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $38.17, for a total value of $254,021.35. Following the completion of the transaction, the director now directly owns 145,625 shares in the company, valued at $5,558,506.25. The trade was a 4.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,612,366 shares of company stock worth $1,867,342,292 in the last 90 days. 12.93% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PLTR. Northwest Investment Counselors LLC bought a new position in shares of Palantir Technologies in the third quarter worth about $25,000. Prestige Wealth Management Group LLC increased its position in Palantir Technologies by 747.1% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after buying an additional 650 shares during the period. Summit Securities Group LLC bought a new position in Palantir Technologies in the 2nd quarter worth approximately $25,000. Farmers & Merchants Investments Inc. acquired a new position in shares of Palantir Technologies during the second quarter worth approximately $25,000. Finally, Creekmur Asset Management LLC boosted its position in shares of Palantir Technologies by 46.0% in the third quarter. Creekmur Asset Management LLC now owns 1,063 shares of the company’s stock valued at $40,000 after acquiring an additional 335 shares during the period. 45.65% of the stock is owned by institutional investors.

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.