Palantir Technologies (NASDAQ:PLTR) Price Target Raised to $130.00 at Loop Capital

Palantir Technologies (NASDAQ:PLTR - Get Free Report) had its target price raised by investment analysts at Loop Capital from $125.00 to $130.00 in a research report issued on Tuesday, Marketbeat.com reports. The firm presently has a "buy" rating on the stock. Loop Capital's price objective indicates a potential upside of 8.95% from the company's previous close.

A number of other equities research analysts have also weighed in on the company. Royal Bank of Canada restated an "underperform" rating and set a $40.00 price objective on shares of Palantir Technologies in a research note on Tuesday, April 29th. The Goldman Sachs Group upped their price target on shares of Palantir Technologies from $80.00 to $90.00 and gave the company a "neutral" rating in a report on Tuesday. Jefferies Financial Group raised their price objective on shares of Palantir Technologies from $28.00 to $60.00 and gave the stock an "underperform" rating in a report on Tuesday, February 4th. Wedbush set a $140.00 price target on shares of Palantir Technologies and gave the stock an "outperform" rating in a research report on Tuesday. Finally, Bank of America lifted their price target on Palantir Technologies from $90.00 to $125.00 and gave the stock a "buy" rating in a research note on Tuesday, February 4th. Five equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $83.95.

Palantir Technologies Trading Up 8.0 %

NASDAQ:PLTR traded up $8.84 during trading hours on Tuesday, hitting $119.32. The stock had a trading volume of 126,443,013 shares, compared to its average volume of 104,150,672. The company has a market cap of $279.85 billion, a PE ratio of 628.04, a price-to-earnings-growth ratio of 10.84 and a beta of 2.68. The business has a 50 day simple moving average of $92.85 and a two-hundred day simple moving average of $80.95. Palantir Technologies has a 1-year low of $20.50 and a 1-year high of $125.41.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.13. The firm had revenue of $883.86 million for the quarter, compared to the consensus estimate of $863.89 million. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. The firm's quarterly revenue was up 39.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.08 EPS. Research analysts expect that Palantir Technologies will post 0.31 EPS for the current fiscal year.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, Director Alexandra W. Schiff sold 6,776 shares of Palantir Technologies stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $86.63, for a total value of $587,004.88. Following the transaction, the director now owns 184,617 shares in the company, valued at approximately $15,993,370.71. The trade was a 3.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of Palantir Technologies stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $82.75, for a total value of $103,437,500.00. Following the completion of the transaction, the insider now owns 592 shares in the company, valued at $48,988. The trade was a 99.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 2,978,181 shares of company stock valued at $252,115,667. Company insiders own 12.93% of the company's stock.

Institutional Inflows and Outflows

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