Palantir Technologies (NYSE:PLTR) Price Target Raised to $16.00

Palantir Technologies (NYSE:PLTR) had its price target raised by The Goldman Sachs Group from $14.00 to $16.00 in a research note released on Wednesday, Benzinga reports. They currently have a neutral rating on the stock.

Several other analysts have also commented on the stock. DA Davidson raised their price objective on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a neutral rating in a report on Tuesday. HSBC upped their price target on Palantir Technologies from $22.00 to $23.00 and gave the stock a hold rating in a research note on Tuesday, May 7th. Wedbush reissued an outperform rating and set a $35.00 price objective on shares of Palantir Technologies in a research report on Friday, August 2nd. Argus began coverage on shares of Palantir Technologies in a research report on Monday, June 17th. They issued a buy rating and a $29.00 target price on the stock. Finally, Jefferies Financial Group lifted their price target on shares of Palantir Technologies from $24.00 to $28.00 and gave the company a hold rating in a research report on Monday, July 29th. Six analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $23.14.

Palantir Technologies Trading Up 2.5 %

Shares of PLTR stock traded up $0.73 during trading hours on Wednesday, reaching $30.01. The company’s stock had a trading volume of 88,131,106 shares, compared to its average volume of 48,413,612. Palantir Technologies has a one year low of $13.68 and a one year high of $30.36. The stock has a market capitalization of $66.83 billion, a P/E ratio of 250.10, a P/E/G ratio of 6.14 and a beta of 2.71. The firm’s fifty day simple moving average is $25.97 and its 200 day simple moving average is $23.65.

Palantir Technologies (NYSE:PLTR) last issued its quarterly earnings data on Monday, August 5th. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. Palantir Technologies had a net margin of 16.32% and a return on equity of 9.24%. The business had revenue of $678.13 million for the quarter, compared to the consensus estimate of $653.23 million. During the same period in the previous year, the firm earned $0.01 EPS. The company’s quarterly revenue was up 27.2% compared to the same quarter last year. As a group, equities research analysts forecast that Palantir Technologies will post 0.16 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Lauren Elaina Friedman Stat sold 3,050 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $26.43, for a total value of $80,611.50. Following the completion of the sale, the director now directly owns 65,989 shares in the company, valued at approximately $1,744,089.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Eric H. Woersching sold 26,000 shares of Palantir Technologies stock in a transaction on Friday, June 7th. The shares were sold at an average price of $23.32, for a total transaction of $606,320.00. Following the transaction, the director now owns 38,843 shares in the company, valued at approximately $905,818.76. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Lauren Elaina Friedman Stat sold 3,050 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $26.43, for a total transaction of $80,611.50. Following the completion of the transaction, the director now directly owns 65,989 shares of the company’s stock, valued at approximately $1,744,089.27. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 164,396 shares of company stock worth $4,389,707. Company insiders own 12.93% of the company’s stock.

Institutional Investors Weigh In On Palantir Technologies

Institutional investors and hedge funds have recently modified their holdings of the stock. Pursue Wealth Partners LLC bought a new stake in Palantir Technologies in the 4th quarter valued at $1,741,000. Vanguard Group Inc. grew its position in shares of Palantir Technologies by 3.5% during the fourth quarter. Vanguard Group Inc. now owns 193,805,263 shares of the company’s stock valued at $3,327,636,000 after purchasing an additional 6,466,596 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of Palantir Technologies by 183.3% in the first quarter. SG Americas Securities LLC now owns 158,394 shares of the company’s stock worth $3,645,000 after purchasing an additional 102,479 shares during the last quarter. Accel Wealth Management purchased a new stake in shares of Palantir Technologies in the first quarter worth about $360,000. Finally, Panagora Asset Management Inc. boosted its stake in Palantir Technologies by 185.6% during the fourth quarter. Panagora Asset Management Inc. now owns 76,695 shares of the company’s stock valued at $1,317,000 after buying an additional 49,839 shares during the last quarter. Institutional investors own 45.65% of the company’s stock.

About Palantir Technologies

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.