Palantir Technologies (NASDAQ:PLTR) Price Target Raised to $130.00

Palantir Technologies (NASDAQ:PLTR) had its price objective hoisted by Loop Capital from $125.00 to $130.00 in a research report sent to investors on Tuesday, MarketBeat.com reports. The brokerage currently has a buy rating on the stock.

Other equities analysts also recently issued reports about the stock. The Goldman Sachs Group boosted their target price on shares of Palantir Technologies from $80.00 to $90.00 and gave the stock a “neutral” rating in a research note on Tuesday. UBS Group upped their price objective on Palantir Technologies from $105.00 to $110.00 and gave the stock a “neutral” rating in a report on Tuesday. William Blair set a $84.00 target price on Palantir Technologies in a research note on Wednesday, March 5th. Royal Bank of Canada reiterated an “underperform” rating and issued a $40.00 price target on shares of Palantir Technologies in a report on Tuesday, April 29th. Finally, Morgan Stanley boosted their price objective on Palantir Technologies from $90.00 to $98.00 and gave the stock an “equal weight” rating in a report on Tuesday. Five research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $83.95.

Palantir Technologies Trading Up 8.0 %

Shares of Palantir Technologies stock opened at $119.32 on Tuesday. Palantir Technologies has a 1-year low of $20.50 and a 1-year high of $125.41. The firm’s 50-day moving average price is $93.57 and its two-hundred day moving average price is $81.48. The stock has a market capitalization of $279.85 billion, a price-to-earnings ratio of 628.04, a P/E/G ratio of 10.84 and a beta of 2.68.

Palantir Technologies (NASDAQ:PLTR) last announced its earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, hitting the consensus estimate of $0.13. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. The company had revenue of $883.86 million for the quarter, compared to analysts’ expectations of $863.89 million. During the same quarter in the prior year, the business earned $0.08 earnings per share. The business’s revenue for the quarter was up 39.4% on a year-over-year basis. As a group, equities research analysts predict that Palantir Technologies will post 0.31 EPS for the current year.

Insider Buying and Selling

In related news, insider Stephen Andrew Cohen sold 1,250,000 shares of the business’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $82.75, for a total transaction of $103,437,500.00. Following the sale, the insider now owns 592 shares in the company, valued at $48,988. The trade was a 99.95 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Alexandra W. Schiff sold 6,776 shares of Palantir Technologies stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $86.63, for a total value of $587,004.88. Following the sale, the director now directly owns 184,617 shares in the company, valued at $15,993,370.71. The trade was a 3.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,978,181 shares of company stock valued at $252,115,667 over the last quarter. 12.93% of the stock is owned by company insiders.

Hedge Funds Weigh In On Palantir Technologies

Large investors have recently modified their holdings of the business. Mather Group LLC. grew its position in shares of Palantir Technologies by 101.4% in the 4th quarter. Mather Group LLC. now owns 890 shares of the company’s stock valued at $67,000 after buying an additional 448 shares during the last quarter. Diversify Wealth Management LLC bought a new stake in Palantir Technologies in the fourth quarter valued at approximately $876,000. Destiny Wealth Partners LLC acquired a new stake in Palantir Technologies during the 4th quarter valued at approximately $3,233,000. Kieckhefer Group LLC bought a new position in Palantir Technologies during the 4th quarter worth approximately $11,769,000. Finally, Grange Capital LLC bought a new stake in shares of Palantir Technologies in the 4th quarter valued at $5,829,000. 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.