Loop Capital Issues Positive Forecast for Palantir Technologies (NASDAQ:PLTR) Stock Price

Key Points

• Loop Capital has raised its price target for Palantir Technologies from $178.00 to $180.00, maintaining a "buy" rating and indicating a potential upside of 3.32% from the current stock price.
• Other analysts have also upgraded their ratings, with Deutsche Bank raising its target from $80.00 to $160.00 and Mizuho increasing it from $116.00 to $135.00.
• Palantir reported earnings of $0.16 per share, surpassing analysts' estimates, with quarterly revenue of $1 billion, reflecting a 48.0% increase compared to the same quarter last year.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) had its price objective boosted by Loop Capital from $178.00 to $180.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a "buy" rating on the stock. Loop Capital's price objective suggests a potential upside of 3.32% from the company's current price.

PLTR has been the subject of a number of other research reports. Deutsche Bank Aktiengesellschaft upgraded shares of Palantir Technologies from a "sell" rating to a "hold" rating and lifted their target price for the company from $80.00 to $160.00 in a research note on Tuesday. Mizuho raised shares of Palantir Technologies from an "underperform" rating to a "neutral" rating and upped their target price for the stock from $116.00 to $135.00 in a research note on Wednesday, July 16th. DA Davidson upped their target price on shares of Palantir Technologies from $100.00 to $115.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Wedbush set a $160.00 target price on shares of Palantir Technologies in a research note on Thursday, July 10th. Finally, UBS Group upped their target price on shares of Palantir Technologies from $110.00 to $165.00 and gave the company a "neutral" rating in a report on Tuesday. Three equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Palantir Technologies presently has a consensus rating of "Hold" and an average target price of $111.50.

Palantir Technologies Price Performance

Shares of NASDAQ PLTR traded up $13.55 during mid-day trading on Tuesday, hitting $174.21. The company had a trading volume of 64,306,899 shares, compared to its average volume of 92,226,875. The business's 50-day simple moving average is $141.12 and its 200-day simple moving average is $113.19. Palantir Technologies has a 12 month low of $25.57 and a 12 month high of $176.33. The firm has a market cap of $411.13 billion, a P/E ratio of 752.40, a PEG ratio of 13.15 and a beta of 2.60.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its earnings results on Monday, August 4th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.14 by $0.02. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The company had revenue of $1 billion during the quarter, compared to analysts' expectations of $939.29 million. During the same quarter in the previous year, the company posted $0.09 earnings per share. Palantir Technologies's quarterly revenue was up 48.0% compared to the same quarter last year. As a group, sell-side analysts predict that Palantir Technologies will post 0.31 EPS for the current year.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Ryan D. Taylor sold 35,480 shares of the firm's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total value of $4,484,317.20. Following the transaction, the insider owned 367,691 shares in the company, valued at approximately $46,472,465.49. This trade represents a 8.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Stephen Andrew Cohen sold 309,696 shares of the business's stock in a transaction dated 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 owned 592 shares in the company, valued at approximately $74,822.88. This trade represents a 99.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,485,632 shares of company stock worth $191,222,623. Company insiders own 12.93% of the company's stock.

Hedge Funds Weigh In On Palantir Technologies

Institutional investors and hedge funds have recently made changes to their positions in the stock. Revolve Wealth Partners LLC purchased a new stake in shares of Palantir Technologies during the fourth quarter worth approximately $450,000. Envestnet Asset Management Inc. raised its holdings in shares of Palantir Technologies by 30.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 592,412 shares of the company's stock valued at $44,804,000 after buying an additional 137,604 shares during the period. Quadrant Capital Group LLC increased its holdings in Palantir Technologies by 158.0% during the 4th quarter. Quadrant Capital Group LLC now owns 5,265 shares of the company's stock worth $398,000 after purchasing an additional 3,224 shares during the last quarter. Cerity Partners LLC increased its holdings in Palantir Technologies by 15.3% during the 4th quarter. Cerity Partners LLC now owns 630,088 shares of the company's stock worth $47,654,000 after purchasing an additional 83,757 shares during the last quarter. Finally, Shelton Capital Management boosted its position in Palantir Technologies by 285.8% during the 4th quarter. Shelton Capital Management now owns 318,752 shares of the company's stock valued at $24,107,000 after purchasing an additional 236,128 shares during the period. 45.65% of the stock is owned by institutional investors and hedge funds.

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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