Morgan Stanley Reiterates "$155.00" Price Target for Palantir Technologies (NASDAQ:PLTR)

Key Points

• Morgan Stanley has increased its price target for Palantir Technologies (NASDAQ:PLTR) from $98.00 to $155.00, while maintaining an "equal weight" rating on the stock.
• Other analysts have also raised their targets, with Wedbush setting a price target of $200.00 and Royal Bank of Canada at $45.00, indicating a varied outlook among firms.
• Palantir reported quarterly earnings of $0.16 per share, exceeding expectations, with revenue of $1 billion, marking a 48% year-over-year growth.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) has been assigned a $155.00 price target by Morgan Stanley in a note issued to investors on Tuesday, Marketbeat reports. The brokerage presently has an "equal weight" rating on the stock. Morgan Stanley's price target suggests a potential downside of 12.87% from the company's current price.

A number of other equities analysts have also issued reports on the company. The Goldman Sachs Group raised their price target on Palantir Technologies from $80.00 to $90.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Wedbush set a $200.00 target price on Palantir Technologies and gave the company an "outperform" rating in a research note on Tuesday. Piper Sandler reiterated an "overweight" rating and issued a $170.00 target price on shares of Palantir Technologies in a research note on Monday. DA Davidson upped their target price on Palantir Technologies from $100.00 to $115.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. Finally, Loop Capital boosted their price objective on shares of Palantir Technologies from $178.00 to $180.00 and gave the company a "buy" rating in a research note on Tuesday. Three research analysts have rated the stock with a sell rating, seventeen have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $125.35.

Palantir Technologies Stock Up 2.7%

NASDAQ:PLTR traded up $4.62 during trading hours on Tuesday, reaching $177.89. 49,983,387 shares of the stock were exchanged, compared to its average volume of 92,443,648. The company has a market capitalization of $419.81 billion, a price-to-earnings ratio of 592.84, a PEG ratio of 13.70 and a beta of 2.60. Palantir Technologies has a twelve month low of $26.24 and a twelve month high of $180.58. The business has a 50-day moving average of $142.12 and a two-hundred day moving average of $113.60.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.02. The business had revenue of $1 billion for the quarter, compared to analysts' expectations of $939.29 million. Palantir Technologies had a return on equity of 11.26% and a net margin of 22.18%. The company's revenue for the quarter was up 48.0% compared to the same quarter last year. During the same period last year, the firm earned $0.09 earnings per share. On average, research analysts forecast that Palantir Technologies will post 0.31 EPS for the current fiscal year.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Shyam Sankar sold 405,000 shares of the firm's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $132.08, for a total value of $53,492,400.00. Following the sale, the insider directly owned 702,786 shares in the company, valued at $92,823,974.88. This trade represents a 36.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider David A. Glazer sold 30,812 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 transaction of $3,894,328.68. Following the completion of the sale, the insider owned 495,497 shares in the company, valued at $62,625,865.83. This represents a 5.85% 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. Corporate insiders own 12.93% of the company's stock.

Hedge Funds Weigh In On Palantir Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mechanics Financial Corp acquired a new position in Palantir Technologies in the first quarter valued at about $25,000. Signature Resources Capital Management LLC bought a new position in shares of Palantir Technologies in the second quarter worth about $25,000. Wealth Preservation Advisors LLC bought a new position in shares of Palantir Technologies in the first quarter worth about $27,000. 1248 Management LLC bought a new position in shares of Palantir Technologies in the first quarter worth about $27,000. Finally, Briaud Financial Planning Inc bought a new position in shares of Palantir Technologies in the second quarter worth about $27,000. 45.65% of the stock is currently 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.