Robert W. Baird Issues Positive Forecast for Palantir Technologies (NASDAQ:PLTR) Stock Price

Palantir Technologies (NASDAQ:PLTR) had its price objective raised by Robert W. Baird from $70.00 to $100.00 in a research note published on Tuesday,Benzinga reports. Robert W. Baird currently has a neutral rating on the stock.

A number of other equities analysts also recently issued reports on PLTR. Argus downgraded Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Mizuho raised their price target on shares of Palantir Technologies from $37.00 to $44.00 and gave the stock an “underperform” rating in a report on Friday, December 13th. Cantor Fitzgerald started coverage on shares of Palantir Technologies in a research note on Friday, January 17th. They issued a “neutral” rating and a $72.00 price objective on the stock. 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. Finally, Northland Securities upped their price target on shares of Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a research report on Tuesday, November 5th. Six research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $64.89.

Palantir Technologies Stock Performance

Shares of NASDAQ PLTR opened at $103.83 on Tuesday. The firm has a 50 day moving average price of $74.09 and a two-hundred day moving average price of $51.39. The stock 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 52-week low of $16.48 and a 52-week high of $106.91.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The business 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 quarterly revenue was up 30.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.03 earnings per share. Analysts predict that Palantir Technologies will post 0.19 earnings per share for the current fiscal year.

Insider Activity

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 450,000 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $70.95, for a total transaction of $31,927,500.00. Following the transaction, the insider now directly owns 592 shares in the company, valued at approximately $42,002.40. This trade represents a 99.87 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 8,860 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $58.06, for a total transaction 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. The trade was a 6.80 % 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 over the last three months. 12.93% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Czech National Bank purchased a new stake in Palantir Technologies in the 3rd quarter valued at about $15,261,000. GAMMA Investing LLC increased its position in shares of Palantir Technologies by 83.9% during the third quarter. GAMMA Investing LLC now owns 5,713 shares of the company’s stock valued at $213,000 after acquiring an additional 2,607 shares during the last quarter. Azzad Asset Management Inc. ADV purchased a new stake in shares of Palantir Technologies during the third quarter valued at approximately $209,000. Diversified Trust Co boosted its position in Palantir Technologies by 172.7% in the third quarter. Diversified Trust Co now owns 21,559 shares of the company’s stock worth $802,000 after purchasing an additional 13,652 shares during the last quarter. Finally, Smith Anglin Financial LLC purchased a new position in Palantir Technologies in the third quarter worth $273,000. 45.65% of the stock is owned by institutional investors.

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.