Palantir Technologies (NYSE:PLTR) Price Target Raised to $47.00 at DA Davidson

Palantir Technologies (NYSE:PLTR) had its price target lifted by DA Davidson from $28.00 to $47.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. DA Davidson’s price objective indicates a potential downside of 8.11% from the stock’s previous close.

A number of other equities research analysts have also recently commented on PLTR. Northland Securities increased their price target on Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft upped their price target on shares of Palantir Technologies from $20.00 to $21.00 and gave the company a “sell” rating in a research note on Tuesday, August 6th. Citigroup boosted their price objective on shares of Palantir Technologies from $25.00 to $28.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Mizuho raised their target price on Palantir Technologies from $30.00 to $37.00 and gave the stock an “underperform” rating in a research note on Tuesday. Finally, The Goldman Sachs Group increased their price objective on Palantir Technologies from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Five research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $29.93.

Palantir Technologies Stock Performance

Palantir Technologies stock traded up $9.74 during mid-day trading on Tuesday, reaching $51.15. 208,366,442 shares of the company were exchanged, compared to its average volume of 56,879,281. Palantir Technologies has a 12-month low of $15.66 and a 12-month high of $51.58. The business has a fifty day moving average of $38.19 and a 200 day moving average of $29.75. The firm has a market cap of $114.55 billion, a P/E ratio of 300.90 and a beta of 2.70.

Palantir Technologies (NYSE:PLTR) last announced its earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The business had revenue of $725.52 million during the quarter, compared to the consensus estimate of $705.11 million. Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. The firm’s revenue was up 30.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.03 earnings per share. Sell-side analysts predict that Palantir Technologies will post 0.19 EPS for the current year.

Insider Activity at Palantir Technologies

In related news, insider Shyam Sankar sold 50,000 shares of the company’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $32.35, for a total value of $1,617,500.00. Following the completion of the transaction, the insider now owns 752,786 shares of the company’s stock, valued at approximately $24,352,627.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Ryan D. Taylor sold 249,684 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $30.01, for a total transaction of $7,493,016.84. Following the completion of the sale, the insider now owns 372,565 shares of the company’s stock, valued at $11,180,675.65. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Shyam Sankar sold 50,000 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $32.35, for a total transaction of $1,617,500.00. Following the completion of the transaction, the insider now directly owns 752,786 shares in the company, valued at $24,352,627.10. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,204,508 shares of company stock worth $802,654,666. 12.93% of the stock is owned by company insiders.

Hedge Funds Weigh In On Palantir Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in PLTR. Janney Montgomery Scott LLC grew its stake in Palantir Technologies by 28.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 365,794 shares of the company’s stock valued at $8,417,000 after acquiring an additional 80,799 shares in the last quarter. Choreo LLC purchased a new position in Palantir Technologies during the first quarter worth approximately $207,000. Fidelis Capital Partners LLC purchased a new position in Palantir Technologies during the first quarter worth approximately $42,000. Mediolanum International Funds Ltd acquired a new position in Palantir Technologies during the first quarter worth $597,000. Finally, Signaturefd LLC grew its holdings in Palantir Technologies by 8.5% in the 1st quarter. Signaturefd LLC now owns 39,999 shares of the company’s stock valued at $920,000 after buying an additional 3,136 shares in the last quarter. Hedge funds and other institutional investors 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.