Palantir Technologies (NASDAQ:PLTR) Price Target Raised to $94.00

Palantir Technologies (NASDAQ:PLTR - Get Free Report) had its price objective upped by analysts at Mizuho from $80.00 to $94.00 in a research note issued to investors on Tuesday, Marketbeat reports. The firm currently has an "underperform" rating on the stock. Mizuho's target price indicates a potential downside of 21.22% from the company's current price.

A number of other research analysts also recently commented on PLTR. Wedbush reissued an "outperform" rating and set a $120.00 target price on shares of Palantir Technologies in a research report on Monday, March 3rd. Northland Securities raised their target price on Palantir Technologies from $38.00 to $80.00 and gave the stock a "market perform" rating in a report on Tuesday, February 4th. William Blair set a $84.00 price target on Palantir Technologies in a report on Wednesday, March 5th. Jefferies Financial Group raised their price target on shares of Palantir Technologies from $28.00 to $60.00 and gave the company an "underperform" rating in a research report on Tuesday, February 4th. Finally, Daiwa America upgraded Palantir Technologies to a "hold" rating in a research report on Tuesday, April 1st. Five investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Palantir Technologies currently has an average rating of "Hold" and a consensus price target of $83.95.

Palantir Technologies Trading Up 8.0 %

NASDAQ PLTR traded up $8.84 on Tuesday, hitting $119.32. 126,591,388 shares of the company traded hands, compared to its average volume of 75,769,561. The business's 50 day moving average price is $93.57 and its 200-day moving average price is $81.48. Palantir Technologies has a 52-week low of $20.50 and a 52-week high of $125.41. The company has a market capitalization of $279.85 billion, a price-to-earnings ratio of 628.04, a P/E/G ratio of 10.84 and a beta of 2.68.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.13. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. The company had revenue of $883.86 million for the quarter, compared to the consensus estimate of $863.89 million. During the same quarter in the prior year, the firm earned $0.08 earnings per share. Palantir Technologies's revenue was up 39.4% on a year-over-year basis. As a group, sell-side analysts predict that Palantir Technologies will post 0.31 earnings per share for the current year.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 1,250,000 shares of the firm's stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $82.75, for a total transaction of $103,437,500.00. Following the transaction, the insider now owns 592 shares of the company's stock, valued at approximately $48,988. This trade represents a 99.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Heather A. Planishek sold 18,537 shares of the business's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $102.32, for a total value of $1,896,705.84. Following the completion of the sale, the insider now directly owns 493,469 shares of the company's stock, valued at $50,491,748.08. The trade was a 3.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,978,181 shares of company stock worth $252,115,667 over the last ninety days. Corporate insiders own 12.93% of the company's stock.

Institutional Investors Weigh In On Palantir Technologies

Several hedge funds have recently made changes to their positions in PLTR. Norges Bank purchased a new stake in shares of Palantir Technologies during the fourth quarter worth approximately $1,360,191,000. Geode Capital Management LLC boosted its holdings in shares of Palantir Technologies by 8.6% in the fourth quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company's stock valued at $3,929,401,000 after acquiring an additional 4,127,306 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Palantir Technologies by 504.0% during the fourth quarter. Wellington Management Group LLP now owns 4,682,230 shares of the company's stock worth $354,117,000 after acquiring an additional 3,907,022 shares during the period. Invesco Ltd. raised its holdings in Palantir Technologies by 31.2% during the fourth quarter. Invesco Ltd. now owns 14,748,240 shares of the company's stock worth $1,115,409,000 after purchasing an additional 3,509,311 shares in the last quarter. Finally, Capital World Investors acquired a new stake in Palantir Technologies in the fourth quarter valued at about $253,816,000. 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.