Palantir Technologies (NASDAQ:PLTR) Price Target Raised to $80.00

Palantir Technologies (NASDAQ:PLTR) had its target price upped by Mizuho from $44.00 to $80.00 in a report published on Tuesday morning,Benzinga reports. They currently have an underperform rating on the stock.

PLTR has been the topic of several other reports. Jefferies Financial Group lowered shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price objective on the stock. in a research report on Thursday, November 7th. DA Davidson increased their price objective on Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. UBS Group started coverage on shares of Palantir Technologies in a research note on Thursday, December 19th. They issued a “neutral” rating and a $80.00 target price for the company. Bank of America raised their price target on shares of Palantir Technologies from $55.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Finally, Northland Securities boosted their price objective on shares of Palantir Technologies from $38.00 to $80.00 and gave the company a “market perform” rating in a research report on Tuesday. Six analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $64.89.

Palantir Technologies Stock Performance

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

Palantir Technologies (NASDAQ:PLTR) last issued its earnings results on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.01. The company had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The firm’s revenue for the quarter was up 30.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.03 earnings per share. Sell-side analysts predict that Palantir Technologies will post 0.19 EPS for the current year.

Insider Activity

In other news, Director Lauren Elaina Friedman Stat sold 800 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $76.29, for a total value of $61,032.00. Following the transaction, the director now owns 62,139 shares of the company’s stock, valued at approximately $4,740,584.31. This trade represents a 1.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Alexander C. Karp sold 4,500,000 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $55.03, for a total transaction of $247,635,000.00. Following the sale, the insider now directly owns 6,432,258 shares of the company’s stock, valued at approximately $353,967,157.74. This trade represents a 41.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,153,753 shares of company stock valued at $1,287,042,675 in the last three months. Corporate insiders own 12.93% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Czech National Bank acquired a new stake in shares of Palantir Technologies in the third quarter valued at about $15,261,000. GAMMA Investing LLC boosted its holdings in Palantir Technologies by 83.9% in the 3rd quarter. GAMMA Investing LLC now owns 5,713 shares of the company’s stock worth $213,000 after acquiring an additional 2,607 shares during the period. Azzad Asset Management Inc. ADV acquired a new stake in Palantir Technologies in the third quarter valued at approximately $209,000. Diversified Trust Co raised its stake in shares of Palantir Technologies by 172.7% during the third quarter. Diversified Trust Co now owns 21,559 shares of the company’s stock valued at $802,000 after purchasing an additional 13,652 shares during the period. Finally, Smith Anglin Financial LLC acquired a new position in shares of Palantir Technologies during the third quarter worth $273,000. 45.65% of the stock is owned by hedge funds and other 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.