UBS Group Reaffirms "Neutral" Rating for Palantir Technologies (NASDAQ:PLTR)

Key Points

• UBS Group has raised Palantir Technologies' price target from $110.00 to $165.00, maintaining a "neutral" rating, despite indicating a potential downside from the previous close.
• Palantir reported quarterly earnings of $0.16 EPS, surpassing the consensus estimate, with revenue of $1 billion, which is up 48% compared to the same period last year.
• Institutional investors hold 45.65% of Palantir's stock, with several firms significantly boosting their stakes in the company in recent months.

UBS Group reiterated their neutral rating on shares of Palantir Technologies (NASDAQ:PLTR - Free Report) in a report released on Tuesday, Marketbeat reports. They currently have a $165.00 price target on the stock, up from their previous price target of $110.00.

PLTR has been the subject of a number of other reports. Deutsche Bank Aktiengesellschaft upgraded shares of Palantir Technologies from a "sell" rating to a "hold" rating and boosted their price objective for the stock from $80.00 to $160.00 in a report on Tuesday. Cantor Fitzgerald boosted their target price on Palantir Technologies from $110.00 to $155.00 and gave the company a "neutral" rating in a research note on Tuesday. 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 research report on Tuesday, May 6th. Piper Sandler reaffirmed an "overweight" rating and issued a $170.00 target price on shares of Palantir Technologies in a research note on Monday. Finally, Morgan Stanley boosted their price objective on shares of Palantir Technologies from $90.00 to $98.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 6th. Two 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 company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $136.61.

Palantir Technologies Price Performance

Shares of NASDAQ:PLTR opened at $179.54 on Tuesday. The firm has a fifty day moving average price of $143.23 and a two-hundred day moving average price of $114.06. The company has a market cap of $423.70 billion, a price-to-earnings ratio of 598.49, a PEG ratio of 14.08 and a beta of 2.60. Palantir Technologies has a one year low of $26.24 and a one year high of $180.58.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.02. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The firm had revenue of $1 billion for the quarter, compared to analysts' expectations of $939.29 million. During the same quarter last year, the company posted $0.09 EPS. The business's quarterly revenue was up 48.0% on a year-over-year basis. Equities research analysts expect that Palantir Technologies will post 0.31 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Alexander C. Karp sold 358,982 shares of the company'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 value of $45,371,734.98. Following the transaction, the insider directly owned 6,432,258 shares in the company, valued at approximately $812,973,088.62. This represents a 5.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider David A. Glazer sold 30,812 shares of the stock in a transaction dated 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 sale, the insider directly owned 495,497 shares in the company, valued at $62,625,865.83. This represents a 5.85% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,485,632 shares of company stock worth $191,222,623 over the last ninety days. 9.23% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Palantir Technologies

Several large investors have recently bought and sold shares of the business. Prospera Financial Services Inc increased its stake in Palantir Technologies by 18.1% in the second quarter. Prospera Financial Services Inc now owns 268,996 shares of the company's stock valued at $36,669,000 after purchasing an additional 41,252 shares during the last quarter. RWA Wealth Partners LLC increased its position in shares of Palantir Technologies by 16.8% during the second quarter. RWA Wealth Partners LLC now owns 8,469 shares of the company's stock worth $1,154,000 after purchasing an additional 1,216 shares in the last quarter. True Wealth Design LLC lifted its holdings in shares of Palantir Technologies by 11.7% in the 2nd quarter. True Wealth Design LLC now owns 699 shares of the company's stock valued at $95,000 after purchasing an additional 73 shares during the last quarter. Summit Investment Advisors Inc. lifted its holdings in shares of Palantir Technologies by 4.5% in the 1st quarter. Summit Investment Advisors Inc. now owns 93,341 shares of the company's stock valued at $7,878,000 after purchasing an additional 3,989 shares during the last quarter. Finally, Bonfire Financial acquired a new stake in shares of Palantir Technologies in the 2nd quarter valued at about $222,000. Hedge funds and other institutional investors 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.