Palantir Technologies (NASDAQ:PLTR) Price Target Raised to $105.00 at DA Davidson

Palantir Technologies (NASDAQ:PLTR) had its target price hoisted by DA Davidson from $47.00 to $105.00 in a report published on Tuesday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other research firms have also weighed in on PLTR. Mizuho upped their price objective on shares of Palantir Technologies from $44.00 to $80.00 and gave the stock an “underperform” rating in a research note on Tuesday. Wedbush increased their price objective on shares of Palantir Technologies from $75.00 to $90.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. Baird R W raised shares of Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. The Goldman Sachs Group increased their target price on Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, Northland Securities boosted their price target on Palantir Technologies from $38.00 to $80.00 and gave the stock a “market perform” rating in a research report on Tuesday. Six equities research 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.com, the company presently has a consensus rating of “Hold” and a consensus target price of $64.89.

Palantir Technologies Price Performance

Palantir Technologies stock opened at $103.83 on Tuesday. The stock has a market cap of $236.53 billion, a price-to-earnings ratio of 519.18, a price-to-earnings-growth ratio of 7.54 and a beta of 2.81. The firm has a 50-day moving average of $74.09 and a two-hundred day moving average of $51.39. Palantir Technologies has a 1 year low of $16.48 and a 1 year high of $106.91.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings data on Monday, November 4th. The company reported $0.10 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $705.11 million. During the same period last year, the business posted $0.03 EPS. Palantir Technologies’s quarterly revenue was up 30.0% on a year-over-year basis. Research analysts expect that Palantir Technologies will post 0.19 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Lauren Elaina Friedman Stat sold 800 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $76.29, for a total value of $61,032.00. Following the sale, the director now owns 62,139 shares in the company, valued at $4,740,584.31. This represents a 1.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Alexandra W. Schiff sold 4,000 shares of Palantir Technologies stock in a transaction that occurred 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 transaction, the director now owns 195,393 shares of the company’s stock, valued at approximately $13,996,000.59. This represents a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,153,753 shares of company stock valued at $1,287,042,675. 12.93% of the stock is owned by insiders.

Hedge Funds Weigh In On Palantir Technologies

Large investors have recently made changes to their positions in the company. Northwest Investment Counselors LLC acquired a new position in shares of Palantir Technologies in the third quarter worth about $25,000. Prestige Wealth Management Group LLC increased its stake in shares of Palantir Technologies by 747.1% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after purchasing an additional 650 shares in the last quarter. Roxbury Financial LLC purchased a new position in Palantir Technologies during the fourth quarter worth approximately $27,000. First PREMIER Bank acquired a new stake in Palantir Technologies in the fourth quarter valued at approximately $28,000. Finally, Wolff Wiese Magana LLC raised its stake in shares of Palantir Technologies by 230.4% during the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock worth $29,000 after buying an additional 265 shares during the period. 45.65% of the stock is currently owned by institutional investors and hedge funds.

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.