Palantir Technologies (NASDAQ:PLTR) Price Target Raised to $110.00

Palantir Technologies (NASDAQ:PLTR) had its target price upped by Citigroup from $42.00 to $110.00 in a research note issued to investors on Wednesday,Benzinga reports. Citigroup currently has a neutral rating on the stock.

A number of other brokerages have also recently weighed in on PLTR. Mizuho boosted their price target on Palantir Technologies from $44.00 to $80.00 and gave the stock an “underperform” rating in a research report on Tuesday. The Goldman Sachs Group upped their price objective on Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Wedbush boosted their price objective on shares of Palantir Technologies from $75.00 to $90.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Northland Securities upped their price objective on Palantir Technologies from $38.00 to $80.00 and gave the stock a “market perform” rating in a research report on Tuesday. Finally, Royal Bank of Canada boosted their price objective on shares of Palantir Technologies from $11.00 to $40.00 and gave the stock an “underperform” rating in a research note on Tuesday. Six investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Palantir Technologies has an average rating of “Hold” and an average price target of $69.44.

Palantir Technologies Stock Performance

Shares of PLTR stock opened at $101.36 on Wednesday. Palantir Technologies has a 1 year low of $19.76 and a 1 year high of $106.91. The business’s fifty day moving average is $74.85 and its 200-day moving average is $51.92. The stock has a market cap of $230.90 billion, a PE ratio of 506.83, a price-to-earnings-growth ratio of 7.54 and a beta of 2.81.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The company had revenue of $725.52 million during the quarter, compared to analyst estimates of $705.11 million. During the same period in the prior year, the firm earned $0.03 earnings per share. The business’s quarterly revenue was up 30.0% on a year-over-year basis. Equities research analysts predict that Palantir Technologies will post 0.19 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Lauren Elaina Friedman Stat sold 8,860 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $58.06, for a total value of $514,411.60. Following the completion of the sale, the director now owns 121,390 shares in the company, valued at $7,047,903.40. This trade represents a 6.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Alexander C. Karp sold 1,823,602 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $63.12, for a total value of $115,105,758.24. Following the completion of the transaction, the insider now owns 6,432,258 shares of the company’s stock, valued at $406,004,124.96. The trade was a 22.09 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,653,753 shares of company stock worth $1,039,407,675. 12.93% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Palantir Technologies

Several hedge funds have recently bought and sold shares of the stock. Tritonpoint Wealth LLC raised its holdings in Palantir Technologies by 1.9% in the fourth quarter. Tritonpoint Wealth LLC now owns 7,100 shares of the company’s stock valued at $537,000 after acquiring an additional 132 shares in the last quarter. Twin Peaks Wealth Advisors LLC lifted its position in shares of Palantir Technologies by 2.2% during the fourth quarter. Twin Peaks Wealth Advisors LLC now owns 6,523 shares of the company’s stock worth $493,000 after purchasing an additional 139 shares during the last quarter. Kennebec Savings Bank grew its stake in Palantir Technologies by 29.5% in the fourth quarter. Kennebec Savings Bank now owns 698 shares of the company’s stock worth $53,000 after purchasing an additional 159 shares in the last quarter. HighMark Wealth Management LLC increased its holdings in Palantir Technologies by 73.5% in the fourth quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock valued at $30,000 after buying an additional 166 shares during the last quarter. Finally, RMR Wealth Builders raised its stake in Palantir Technologies by 2.4% during the fourth quarter. RMR Wealth Builders now owns 7,201 shares of the company’s stock valued at $545,000 after buying an additional 167 shares in the last quarter. Hedge funds and other 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.