Palantir Technologies (NYSE:PLTR) Stock Price Expected to Rise, Bank of America Analyst Says

by · The Markets Daily

Palantir Technologies (NYSE:PLTR – Free Report) had its price objective raised by Bank of America from $55.00 to $75.00 in a research note issued to investors on Monday,Benzinga reports. They currently have a buy rating on the stock.

Several other research firms have also issued reports on PLTR. Argus lowered shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft boosted their price target on Palantir Technologies from $20.00 to $21.00 and gave the company a “sell” rating in a research note on Tuesday, August 6th. Northland Capmk raised shares of Palantir Technologies to a “hold” rating in a research report on Thursday, August 22nd. Raymond James cut shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. Finally, Wedbush increased their price target on Palantir Technologies from $38.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, September 26th. Six investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $35.64.

View Our Latest Report on Palantir Technologies

Palantir Technologies Stock Performance

PLTR opened at $66.05 on Monday. The firm has a market capitalization of $150.46 billion, a PE ratio of 330.25 and a beta of 2.70. The company has a fifty day moving average price of $48.27 and a two-hundred day moving average price of $34.55. Palantir Technologies has a 52 week low of $15.66 and a 52 week high of $67.88.

Palantir Technologies (NYSE:PLTR – Get Free Report) last released its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The firm had revenue of $725.52 million during the quarter, compared to the consensus estimate of $705.11 million. During the same quarter in the prior year, the firm posted $0.03 EPS. The business’s revenue was up 30.0% on a year-over-year basis. Equities analysts forecast that Palantir Technologies will post 0.21 EPS for the current year.

Insider Activity at Palantir Technologies

In related news, Director Alexander D. Moore sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $30.89, for a total value of $617,800.00. Following the completion of the sale, the director now owns 1,510,630 shares in the company, valued at $46,663,360.70. This trade represents a 1.31 % 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, Director Lauren Elaina Friedman Stat sold 6,000 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $36.35, for a total transaction of $218,100.00. Following the completion of the sale, the director now directly owns 152,280 shares in the company, valued at $5,535,378. This trade represents a 3.79 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,163,181 shares of company stock valued at $1,603,288,758. Corporate insiders own 12.93% of the company’s stock.

Institutional Trading of Palantir Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. grew its holdings in shares of Palantir Technologies by 60.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock worth $460,798,000 after buying an additional 4,667,955 shares in the last quarter. State of Alaska Department of Revenue lifted its position in Palantir Technologies by 22.9% during the 3rd quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company’s stock worth $13,786,000 after acquiring an additional 68,945 shares in the last quarter. Oppenheimer & Co. Inc. increased its position in shares of Palantir Technologies by 19.2% during the third quarter. Oppenheimer & Co. Inc. now owns 541,567 shares of the company’s stock worth $20,146,000 after acquiring an additional 87,062 shares during the last quarter. Tyler Stone Wealth Management boosted its stake in shares of Palantir Technologies by 97.9% during the 3rd quarter. Tyler Stone Wealth Management now owns 202,006 shares of the company’s stock valued at $7,515,000 after buying an additional 99,921 shares during the last quarter. Finally, Boston Family Office LLC increased its position in shares of Palantir Technologies by 48.0% in the 3rd quarter. Boston Family Office LLC now owns 37,000 shares of the company’s stock worth $1,376,000 after purchasing an additional 12,000 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

About Palantir Technologies

(Get Free Report)

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.

Read More