Palantir Technologies (NYSE:PLTR) Given New $75.00 Price Target at Wedbush

Palantir Technologies (NYSE:PLTR) had its price target upped by equities researchers at Wedbush from $57.00 to $75.00 in a research note issued on Monday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Wedbush’s target price indicates a potential upside of 16.55% from the stock’s previous close.

A number of other analysts have also recently issued reports on the stock. Mizuho raised their target price on shares of Palantir Technologies from $30.00 to $37.00 and gave the stock an “underperform” rating in a research note on Tuesday, November 5th. The Goldman Sachs Group raised 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. Argus lowered shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Jefferies Financial Group lowered shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price target on the stock. in a research report on Thursday, November 7th. Finally, Northland Capmk raised shares of Palantir Technologies to a “hold” rating in a research report on Thursday, August 22nd. Six equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Palantir Technologies has a consensus rating of “Hold” and a consensus price target of $35.64.

Palantir Technologies Trading Up 4.9 %

Shares of PLTR opened at $64.35 on Monday. Palantir Technologies has a 12 month low of $15.66 and a 12 month high of $66.00. The firm has a fifty day simple moving average of $45.94 and a 200 day simple moving average of $33.48. The stock has a market capitalization of $146.59 billion, a price-to-earnings ratio of 321.77 and a beta of 2.70.

Palantir Technologies (NYSE:PLTR) last announced its earnings results 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 net margin of 18.01% and a return on equity of 9.94%. The business had revenue of $725.52 million during the quarter, compared to analysts’ expectations of $705.11 million. During the same quarter in the prior year, the company posted $0.03 earnings per share. The firm’s revenue was up 30.0% on a year-over-year basis. As a group, research analysts predict that Palantir Technologies will post 0.21 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Alexander C. Karp sold 1,620,395 shares of Palantir Technologies stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $63.21, for a total transaction of $102,425,167.95. Following the sale, the insider now directly owns 6,432,258 shares in the company, valued at $406,583,028.18. This trade represents a 20.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Heather A. Planishek sold 14,016 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $30.67, for a total transaction of $429,870.72. Following the completion of the transaction, the insider now owns 576,023 shares in the company, valued at $17,666,625.41. This trade represents a 2.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,167,451 shares of company stock worth $1,603,067,889 in the last ninety days. Company insiders own 12.93% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of PLTR. Advisors Asset Management Inc. lifted its position in shares of Palantir Technologies by 87.8% in the 1st quarter. Advisors Asset Management Inc. now owns 13,742 shares of the company’s stock worth $316,000 after purchasing an additional 6,426 shares during the period. BOKF NA lifted its position in shares of Palantir Technologies by 394.4% in the 1st quarter. BOKF NA now owns 30,039 shares of the company’s stock worth $687,000 after purchasing an additional 23,963 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Palantir Technologies by 31.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,877,457 shares of the company’s stock worth $135,241,000 after purchasing an additional 1,413,417 shares during the period. SVB Wealth LLC increased its stake in shares of Palantir Technologies by 32.6% in the 1st quarter. SVB Wealth LLC now owns 29,874 shares of the company’s stock valued at $687,000 after acquiring an additional 7,352 shares in the last quarter. Finally, Silvercrest Asset Management Group LLC increased its stake in shares of Palantir Technologies by 15.4% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 15,019 shares of the company’s stock valued at $346,000 after acquiring an additional 2,000 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Company Profile

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. The company provides Palantir Gotham, a software platform which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.