UBS Group Boosts Palantir Technologies (NASDAQ:PLTR) Price Target to $105.00

Palantir Technologies (NASDAQ:PLTR) had its price objective increased by analysts at UBS Group from $80.00 to $105.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. UBS Group’s target price would suggest a potential upside of 3.59% from the stock’s previous close.

Several other research firms have also recently weighed in on PLTR. Morgan Stanley upgraded Palantir Technologies from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $60.00 to $95.00 in a research note on Tuesday. Northland Securities boosted their target price on Palantir Technologies from $38.00 to $80.00 and gave the stock a “market perform” rating in a research report on Tuesday. Argus downgraded shares of Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Baird R W raised shares of Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. Finally, The Goldman Sachs Group raised their target price on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Six analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $69.44.

Palantir Technologies Stock Performance

Shares of Palantir Technologies stock opened at $101.36 on Tuesday. The company has a 50-day simple moving average of $74.85 and a two-hundred day simple moving average of $51.92. Palantir Technologies has a 52-week low of $19.76 and a 52-week high of $106.91. The stock has a market capitalization of $230.90 billion, a PE ratio of 506.83, a price-to-earnings-growth ratio of 7.54 and a beta of 2.81.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $705.11 million. During the same period in the previous year, the business earned $0.03 EPS. The firm’s revenue for the quarter was up 30.0% on a year-over-year basis. As a group, equities research analysts forecast that Palantir Technologies will post 0.19 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Lauren Elaina Friedman Stat sold 10,721 shares of the company’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $76.78, for a total value of $823,158.38. Following the completion of the transaction, the director now owns 100,923 shares of the company’s stock, valued at approximately $7,748,867.94. This represents a 9.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Alexander C. Karp sold 1,823,602 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $63.12, for a total value of $115,105,758.24. Following the sale, the insider now directly owns 6,432,258 shares in the company, valued at approximately $406,004,124.96. This represents a 22.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 15,653,753 shares of company stock worth $1,039,407,675 over the last quarter. 12.93% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Palantir Technologies

Hedge funds have recently made changes to their positions in the business. Tritonpoint Wealth LLC boosted its stake in Palantir Technologies by 1.9% in the 4th quarter. Tritonpoint Wealth LLC now owns 7,100 shares of the company’s stock worth $537,000 after purchasing an additional 132 shares during the period. Twin Peaks Wealth Advisors LLC lifted its holdings in shares of Palantir Technologies by 2.2% in the fourth quarter. Twin Peaks Wealth Advisors LLC now owns 6,523 shares of the company’s stock worth $493,000 after buying an additional 139 shares in the last quarter. Kennebec Savings Bank boosted its position in shares of Palantir Technologies by 29.5% during the fourth quarter. Kennebec Savings Bank now owns 698 shares of the company’s stock worth $53,000 after acquiring an additional 159 shares during the last quarter. HighMark Wealth Management LLC grew its stake in Palantir Technologies by 73.5% during the fourth quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock valued at $30,000 after acquiring an additional 166 shares in the last quarter. Finally, RMR Wealth Builders increased its holdings in Palantir Technologies by 2.4% in the 4th quarter. RMR Wealth Builders now owns 7,201 shares of the company’s stock valued at $545,000 after acquiring an additional 167 shares during the last quarter. Institutional investors own 45.65% of the company’s stock.

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.