Palantir Technologies (NASDAQ:PLTR) Given New $178.00 Price Target at Loop Capital

Key Points

• Loop Capital has increased its target price for Palantir Technologies from $155.00 to $178.00, maintaining a "buy" rating, suggesting a potential upside of 12.55% from its previous close.
• Palantir's recent quarterly earnings met the consensus estimate with a reported $0.13 EPS, and revenue surged by 39.4% year-over-year, reaching $883.86 million.
• Palantir Technologies has a consensus target price of $96.45, with an average rating of "Hold" among analysts, while four have rated the stock as a sell.

Palantir Technologies (NASDAQ:PLTR - Free Report) had its price target upped by Loop Capital from $155.00 to $178.00 in a research note published on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts have also recently weighed in on PLTR. Royal Bank Of Canada restated an "underperform" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Cantor Fitzgerald lifted their target price on Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Daiwa Capital Markets started coverage on Palantir Technologies in a research report on Tuesday, April 1st. They issued a "neutral" rating and a $90.00 price target for the company. Daiwa America raised Palantir Technologies to a "hold" rating in a research report on Tuesday, April 1st. Finally, Piper Sandler initiated coverage on Palantir Technologies in a research report on Friday, July 25th. They set an "overweight" rating and a $170.00 target price on the stock. Four investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Palantir Technologies presently has an average rating of "Hold" and an average target price of $96.45.

Palantir Technologies Trading Up 0.4%

Shares of NASDAQ PLTR traded up $0.57 during midday trading on Wednesday, hitting $159.18. 10,263,499 shares of the company's stock were exchanged, compared to its average volume of 92,502,656. Palantir Technologies has a 12-month low of $21.23 and a 12-month high of $160.87. The company has a market cap of $375.65 billion, a price-to-earnings ratio of 694.13, a PEG ratio of 13.32 and a beta of 2.59. The business's fifty day moving average price is $139.03 and its two-hundred day moving average price is $110.71.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, hitting the consensus estimate of $0.13. The company had revenue of $883.86 million for the quarter, compared to analysts' expectations of $863.89 million. Palantir Technologies had a return on equity of 6.55% and a net margin of 18.32%. The firm's revenue for the quarter was up 39.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.08 earnings per share. Equities analysts expect that Palantir Technologies will post 0.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Palantir Technologies news, insider Ryan D. Taylor sold 35,480 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total transaction of $4,484,317.20. Following the sale, the insider directly owned 367,691 shares of the company's stock, valued at $46,472,465.49. The trade was a 8.80% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Stephen Andrew Cohen sold 309,696 shares of the company's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total transaction of $39,142,477.44. Following the completion of the sale, the insider directly owned 592 shares in the company, valued at approximately $74,822.88. This represents a 99.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,485,632 shares of company stock worth $191,222,623. 9.23% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PLTR. Signature Resources Capital Management LLC bought a new position in shares of Palantir Technologies in the second quarter valued at approximately $25,000. Briaud Financial Planning Inc bought a new stake in shares of Palantir Technologies in the 2nd quarter worth approximately $27,000. Frazier Financial Advisors LLC bought a new stake in shares of Palantir Technologies in the 2nd quarter worth approximately $28,000. Family Legacy Financial Solutions LLC bought a new stake in Palantir Technologies during the 2nd quarter valued at $31,000. Finally, Tradewinds Capital Management LLC boosted its holdings in Palantir Technologies by 147.4% in the second quarter. Tradewinds Capital Management LLC now owns 235 shares of the company's stock valued at $32,000 after acquiring an additional 140 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company's stock.

Palantir Technologies Company Profile

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.