Palantir Technologies (NASDAQ:PLTR) Stock Price Expected to Rise, Loop Capital Analyst Says

Palantir Technologies (NASDAQ:PLTR - Free Report) had its price target hoisted by Loop Capital from $130.00 to $155.00 in a report released on Thursday morning,Benzinga reports. Loop Capital currently has a buy rating on the stock.

A number of other equities research analysts have also issued reports on the company. The Goldman Sachs Group increased their target price on Palantir Technologies from $80.00 to $90.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. Daiwa America upgraded Palantir Technologies to a "hold" rating in a research note on Tuesday, April 1st. Royal Bank of Canada reiterated an "underperform" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Mizuho increased their target price on Palantir Technologies from $94.00 to $116.00 and gave the company an "underperform" rating in a research note on Wednesday. Finally, William Blair set a $84.00 target price on Palantir Technologies in a research note on Wednesday, March 5th. Five investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $86.30.

Palantir Technologies Trading Down 0.9%

Shares of Palantir Technologies stock traded down $1.20 during trading hours on Thursday, reaching $135.19. The stock had a trading volume of 56,051,410 shares, compared to its average volume of 80,529,565. The firm has a 50 day simple moving average of $113.13 and a two-hundred day simple moving average of $93.63. The firm has a market capitalization of $319.04 billion, a price-to-earnings ratio of 711.56, a P/E/G ratio of 10.84 and a beta of 2.64. Palantir Technologies has a 1 year low of $21.23 and a 1 year high of $140.00.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported $0.13 EPS for the quarter, hitting analysts' consensus estimates of $0.13. The company had revenue of $883.86 million for the quarter, compared to the consensus estimate of $863.89 million. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. The company's quarterly revenue was up 39.4% compared to the same quarter last year. During the same period last year, the business posted $0.08 EPS. Sell-side analysts forecast that Palantir Technologies will post 0.31 EPS for the current year.

Insider Transactions at Palantir Technologies

In other news, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $81.25, for a total value of $65,000.00. Following the completion of the transaction, the director now owns 61,339 shares in the company, valued at approximately $4,983,793.75. This trade represents a 1.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of Palantir Technologies stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $85.30, for a total value of $106,625,000.00. Following the completion of the transaction, the insider now owns 592 shares of the company's stock, valued at approximately $50,497.60. The trade was a 99.95% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,066,925 shares of company stock worth $322,073,358. 9.23% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in PLTR. Mechanics Financial Corp bought a new stake in shares of Palantir Technologies in the 1st quarter worth approximately $25,000. Roxbury Financial LLC bought a new stake in shares of Palantir Technologies in the 4th quarter worth approximately $27,000. Wealth Preservation Advisors LLC bought a new stake in shares of Palantir Technologies in the 1st quarter worth approximately $27,000. 1248 Management LLC bought a new stake in shares of Palantir Technologies in the 1st quarter worth approximately $27,000. Finally, HighMark Wealth Management LLC lifted 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 worth $30,000 after purchasing an additional 166 shares during 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.