Citigroup Raises Palantir Technologies (NASDAQ:PLTR) Price Target to $115.00

Palantir Technologies (NASDAQ:PLTR - Get Free Report) had its price target raised by stock analysts at Citigroup from $110.00 to $115.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. Citigroup's price objective would indicate a potential downside of 4.08% from the company's previous close.

Several other equities analysts have also recently commented on the stock. Morgan Stanley upped their target price on shares of Palantir Technologies from $90.00 to $98.00 and gave the company an "equal weight" rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft reaffirmed a "sell" rating on shares of Palantir Technologies in a report on Tuesday. The Goldman Sachs Group lifted their price objective on Palantir Technologies from $80.00 to $90.00 and gave the stock a "neutral" rating in a report on Tuesday. DA Davidson boosted their price objective on Palantir Technologies from $100.00 to $115.00 and gave the company a "neutral" rating in a research report on Tuesday. Finally, Northland Securities raised their target price on Palantir Technologies from $38.00 to $80.00 and gave the stock a "market perform" rating in a research report on Tuesday, February 4th. Five analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $83.95.

Palantir Technologies Price Performance

Palantir Technologies stock traded up $9.42 during trading hours on Thursday, hitting $119.90. The company had a trading volume of 109,373,497 shares, compared to its average volume of 75,684,728. The firm has a market capitalization of $281.20 billion, a P/E ratio of 629.09, a price-to-earnings-growth ratio of 10.84 and a beta of 2.68. Palantir Technologies has a fifty-two week low of $20.50 and a fifty-two week high of $125.41. The firm's fifty day moving average is $92.85 and its 200-day moving average is $80.95.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, meeting 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 the consensus estimate of $863.89 million. During the same quarter last year, the company posted $0.08 earnings per share. The company's revenue for the quarter was up 39.4% compared to the same quarter last year. Analysts anticipate that Palantir Technologies will post 0.31 earnings per share for the current year.

Insider Activity

In other Palantir Technologies news, insider Heather A. Planishek sold 13,891 shares of Palantir Technologies stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $115.96, for a total transaction of $1,610,800.36. Following the transaction, the insider now directly owns 512,006 shares in the company, valued at approximately $59,372,215.76. The trade was a 2.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Alexandra W. Schiff sold 6,776 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $86.63, for a total value of $587,004.88. Following the completion of the sale, the director now owns 184,617 shares of the company's stock, valued at $15,993,370.71. This trade represents 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 in the last quarter. Company insiders own 12.93% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Mechanics Financial Corp acquired a new stake in shares of Palantir Technologies in the 1st quarter valued at about $25,000. Roxbury Financial LLC acquired a new stake in Palantir Technologies in the 4th quarter valued at approximately $27,000. First PREMIER Bank bought a new stake in Palantir Technologies in the 4th quarter valued at approximately $28,000. Wolff Wiese Magana LLC boosted its position in Palantir Technologies by 230.4% during the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company's stock worth $29,000 after acquiring an additional 265 shares during the last quarter. Finally, HighMark Wealth Management LLC grew its stake in shares of Palantir Technologies by 73.5% during the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company's stock worth $30,000 after acquiring an additional 166 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company's stock.

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.

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