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

Palantir Technologies (NASDAQ:PLTR) had its target price lifted by Northland Securities from $38.00 to $80.00 in a research note published on Tuesday morning,Benzinga reports. Northland Securities currently has a market perform rating on the stock.

PLTR has been the subject of several other reports. Cantor Fitzgerald assumed coverage on Palantir Technologies in a research report on Friday, January 17th. They issued a “neutral” rating and a $72.00 target price for the company. Robert W. Baird lifted their price objective on Palantir Technologies from $70.00 to $100.00 and gave the company a “neutral” rating in a research note on Tuesday. Bank of America lifted their price objective on Palantir Technologies from $55.00 to $75.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Jefferies Financial Group cut Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price objective for the company. in a research note on Thursday, November 7th. Finally, William Blair reiterated an “underperform” rating on shares of Palantir Technologies in a research note on Wednesday, December 18th. 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 data from MarketBeat.com, Palantir Technologies currently has an average rating of “Hold” and an average price target of $69.44.

Palantir Technologies Price Performance

NASDAQ PLTR opened at $111.28 on Tuesday. The company has a market cap of $253.50 billion, a P/E ratio of 556.43, a P/E/G ratio of 7.54 and a beta of 2.81. The stock has a 50-day moving average of $75.56 and a two-hundred day moving average of $52.26. Palantir Technologies has a 1-year low of $20.33 and a 1-year high of $111.55.

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

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 800 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $76.29, for a total value of $61,032.00. Following the completion of the sale, the director now owns 62,139 shares in the company, valued at approximately $4,740,584.31. The trade was a 1.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Alexander C. Karp sold 4,500,000 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $63.10, for a total value of $283,950,000.00. Following the completion of the sale, the insider now owns 6,432,258 shares of the company’s stock, valued at approximately $405,875,479.80. This represents a 41.16 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,656,687 shares of company stock worth $1,040,105,687. 12.93% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Northwest Investment Counselors LLC acquired a new position in shares of Palantir Technologies in the third quarter valued at approximately $25,000. Prestige Wealth Management Group LLC increased its holdings in shares of Palantir Technologies by 747.1% in the third 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 during the period. Roxbury Financial LLC acquired a new position in shares of Palantir Technologies in the fourth quarter valued at approximately $27,000. First PREMIER Bank acquired a new position in shares of Palantir Technologies in the fourth quarter valued at approximately $28,000. Finally, Wolff Wiese Magana LLC increased its holdings in shares of Palantir Technologies by 230.4% in the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock valued at $29,000 after purchasing an additional 265 shares during the period. Institutional investors and hedge funds 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.