Palantir Technologies (NASDAQ:PLTR) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Palantir Technologies (NASDAQ:PLTR) had its price objective lifted by Royal Bank of Canada from $11.00 to $40.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have an underperform rating on the stock.

PLTR has been the topic of several other reports. Wedbush lifted their target price on shares of Palantir Technologies from $75.00 to $90.00 and gave the company an “outperform” rating in a research report on Thursday, January 23rd. UBS Group boosted their price target on shares of Palantir Technologies from $80.00 to $105.00 and gave the company a “neutral” rating in a research report on Tuesday. DA Davidson boosted their price target on shares of Palantir Technologies from $47.00 to $105.00 and gave the company a “neutral” rating in a research report on Tuesday. Robert W. Baird boosted their price target on shares of Palantir Technologies from $70.00 to $100.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, Jefferies Financial Group boosted their price target on shares of Palantir Technologies from $28.00 to $60.00 and gave the company an “underperform” rating in a research report on Tuesday. Six investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $69.44.

Palantir Technologies Stock Performance

Shares of Palantir Technologies stock opened at $111.28 on Tuesday. The firm’s 50-day simple moving average is $75.56 and its 200-day simple moving average is $52.26. Palantir Technologies has a twelve month low of $20.33 and a twelve month high of $111.55. The firm has a market cap of $253.50 billion, a P/E ratio of 556.43, a price-to-earnings-growth ratio of 7.54 and a beta of 2.81.

Palantir Technologies (NASDAQ:PLTR) last issued 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. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The business had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. During the same period in the previous year, the business earned $0.03 EPS. The firm’s revenue was up 30.0% on a year-over-year basis. On average, equities analysts forecast that Palantir Technologies will post 0.19 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 450,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $70.95, for a total value of $31,927,500.00. Following the completion of the sale, the insider now owns 592 shares of the company’s stock, valued at approximately $42,002.40. This represents a 99.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Shyam Sankar sold 5,250,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $70.08, for a total transaction of $367,920,000.00. Following the completion of the sale, the insider now directly owns 752,786 shares of the company’s stock, valued at $52,755,242.88. The trade was a 87.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,656,687 shares of company stock valued at $1,040,105,687 over the last ninety days. Insiders own 12.93% of the company’s stock.

Institutional Investors Weigh In On Palantir Technologies

Several large investors have recently bought and sold shares of PLTR. Northwest Investment Counselors LLC bought a new stake in Palantir Technologies in the third quarter valued at approximately $25,000. Prestige Wealth Management Group LLC increased its position in shares of Palantir Technologies by 747.1% during the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after acquiring an additional 650 shares in the last quarter. Roxbury Financial LLC bought a new stake in shares of Palantir Technologies during the fourth quarter worth $27,000. First PREMIER Bank bought a new stake in shares of Palantir Technologies during the fourth quarter worth $28,000. Finally, Wolff Wiese Magana LLC increased its position in shares of Palantir Technologies by 230.4% during the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock worth $29,000 after acquiring an additional 265 shares in the last quarter. Institutional investors own 45.65% of the company’s stock.

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.