Jefferies Financial Group Issues Positive Forecast for Palantir Technologies (NASDAQ:PLTR) Stock Price

Palantir Technologies (NASDAQ:PLTR) had its price target boosted by Jefferies Financial Group from $28.00 to $60.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an “underperform” rating on the stock. Jefferies Financial Group’s price target suggests a potential downside of 28.35% from the stock’s current price.

PLTR has been the topic of a number of other reports. William Blair reissued an “underperform” rating on shares of Palantir Technologies in a report on Wednesday, December 18th. UBS Group started coverage on Palantir Technologies in a research note on Thursday, December 19th. They set a “neutral” rating and a $80.00 price objective on the stock. Morgan Stanley upgraded Palantir Technologies from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $60.00 to $95.00 in a research report on Tuesday. Argus downgraded Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Finally, The Goldman Sachs Group lifted their target price on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Six investment analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $57.11.

Palantir Technologies Stock Up 1.5 %

Shares of NASDAQ:PLTR opened at $83.74 on Tuesday. The firm has a market capitalization of $190.76 billion, a price-to-earnings ratio of 418.72, a PEG ratio of 7.54 and a beta of 2.81. The stock’s 50 day moving average is $73.71 and its 200-day moving average is $51.00. Palantir Technologies has a twelve month low of $16.48 and a twelve month high of $85.22.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The company had revenue of $725.52 million for the quarter, compared to analysts’ expectations of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. Palantir Technologies’s revenue was up 30.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.03 EPS. Equities research analysts anticipate that Palantir Technologies will post 0.19 earnings per share for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In other news, Director Lauren Elaina Friedman Stat sold 8,860 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $58.06, for a total value of $514,411.60. Following the completion of the sale, the director now owns 121,390 shares of the company’s stock, valued at approximately $7,047,903.40. This represents a 6.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Alexandra W. Schiff sold 4,000 shares of the stock in a transaction 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 sale, the director now directly owns 195,393 shares in the company, valued at $13,996,000.59. This trade represents a 2.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,153,753 shares of company stock worth $1,287,042,675 in the last quarter. 12.93% of the stock is owned by corporate insiders.

Institutional Trading of Palantir Technologies

A number of institutional investors have recently modified their holdings of the company. Charles Schwab Investment Management Inc. grew its stake in shares of Palantir Technologies by 60.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock worth $460,798,000 after acquiring an additional 4,667,955 shares during the last quarter. Diversify Wealth Management LLC purchased a new position in Palantir Technologies during the fourth quarter valued at $876,000. Destiny Wealth Partners LLC purchased a new position in shares of Palantir Technologies in the fourth quarter worth about $3,233,000. State of Alaska Department of Revenue raised its holdings in shares of Palantir Technologies by 22.9% during the 3rd quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company’s stock worth $13,786,000 after acquiring an additional 68,945 shares during the period. Finally, Oppenheimer & Co. Inc. boosted its stake in Palantir Technologies by 19.2% during the third quarter. Oppenheimer & Co. Inc. now owns 541,567 shares of the company’s stock worth $20,146,000 after buying an additional 87,062 shares during the period. 45.65% of the stock is currently owned by institutional investors.

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.