Jefferies Financial Group Forecasts Strong Price Appreciation for Palantir Technologies (NASDAQ:PLTR) Stock

Palantir Technologies (NASDAQ:PLTR) had its price target boosted by Jefferies Financial Group from $28.00 to $60.00 in a research report released on Tuesday,Benzinga reports. The firm currently has an underperform rating on the stock.

Other analysts have also issued research reports about the stock. Bank of America lifted their price objective on shares of Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday. 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 target for the company. Morgan Stanley raised shares of Palantir Technologies from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $60.00 to $95.00 in a research report on Tuesday. UBS Group started coverage on Palantir Technologies in a research note on Thursday, December 19th. They set a “neutral” rating and a $80.00 price target on the stock. Finally, Robert W. Baird raised 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. Six analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Palantir Technologies currently has an average rating of “Hold” and an average target price of $64.89.

Palantir Technologies Trading Up 24.0 %

Shares of PLTR opened at $103.83 on Tuesday. The firm’s fifty day simple moving average is $74.09 and its two-hundred day simple moving average is $51.39. Palantir Technologies has a 12 month low of $16.48 and a 12 month high of $106.91. The stock has a market capitalization 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 (NASDAQ:PLTR) last announced its earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.09 by $0.01. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The company had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. During the same quarter in the prior year, the company earned $0.03 EPS. The firm’s revenue for the quarter was up 30.0% compared to the same quarter last year. As a group, research analysts predict that Palantir Technologies will post 0.19 EPS for the current fiscal year.

Insider Transactions at Palantir Technologies

In related news, Director Alexandra W. Schiff sold 4,000 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total value of $286,520.00. Following the sale, the director now owns 195,393 shares of the company’s stock, valued at approximately $13,996,000.59. The trade was a 2.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ryan D. Taylor sold 483,987 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $74.48, for a total value of $36,047,351.76. Following the completion of the sale, the insider now directly owns 170,273 shares of the company’s stock, valued at $12,681,933.04. This represents a 73.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,153,753 shares of company stock worth $1,287,042,675 in the last ninety days. Company insiders own 12.93% of the company’s stock.

Institutional Investors Weigh In On Palantir Technologies

Several institutional investors have recently added to or reduced their stakes in the business. State Street Corp lifted its stake in shares of Palantir Technologies by 96.4% during the 3rd quarter. State Street Corp now owns 82,512,440 shares of the company’s stock valued at $3,069,463,000 after buying an additional 40,498,024 shares in the last quarter. Geode Capital Management LLC raised its holdings in Palantir Technologies by 52.9% during the 3rd quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock valued at $1,777,568,000 after acquiring an additional 16,598,253 shares during the period. International Assets Investment Management LLC lifted its position in shares of Palantir Technologies by 3,476.2% during the third quarter. International Assets Investment Management LLC now owns 6,832,301 shares of the company’s stock worth $254,162,000 after acquiring an additional 6,641,253 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Palantir Technologies by 60.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock worth $460,798,000 after acquiring an additional 4,667,955 shares during the period. Finally, Lord Abbett & CO. LLC grew its position in shares of Palantir Technologies by 943.2% in the third quarter. Lord Abbett & CO. LLC now owns 3,300,766 shares of the company’s stock valued at $122,788,000 after purchasing an additional 2,984,348 shares in the last quarter. 45.65% of the stock is owned by hedge funds and other 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.