Palantir Technologies (NASDAQ:PLTR) Price Target Raised to $155.00 at Cantor Fitzgerald

Key Points

• Cantor Fitzgerald has raised its price target for Palantir Technologies from $110.00 to $155.00, while maintaining a "neutral" rating on the stock, suggesting a possible downside of 3.52% from the current price.
• Palantir reported a quarterly revenue increase of 48% year-over-year, reaching $1 billion, and exceeded earnings expectations with an EPS of $0.16.
• The stock has an average analyst rating of "Hold" with target prices varying from $90.00 to $170.00, showcasing mixed sentiments among different research firms.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) had its price target hoisted by Cantor Fitzgerald from $110.00 to $155.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a "neutral" rating on the stock. Cantor Fitzgerald's price target would suggest a potential downside of 3.52% from the stock's current price.

A number of other research firms have also recently commented on PLTR. Piper Sandler reissued an "overweight" rating and set a $170.00 price target on shares of Palantir Technologies in a report on Monday. The Goldman Sachs Group boosted their target price on Palantir Technologies from $80.00 to $90.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Mizuho raised shares of Palantir Technologies from an "underperform" rating to a "neutral" rating and lifted their price target for the company from $116.00 to $135.00 in a research note on Wednesday, July 16th. DA Davidson boosted their price objective 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. Finally, Wedbush set a $160.00 price target on Palantir Technologies in a research report on Thursday, July 10th. Three analysts have rated the stock with a sell rating, sixteen have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $105.65.

Palantir Technologies Stock Up 4.1%

Shares of PLTR stock opened at $160.66 on Tuesday. Palantir Technologies has a 12-month low of $21.23 and a 12-month high of $161.40. The business has a 50-day moving average price of $141.12 and a two-hundred day moving average price of $113.19. The firm has a market cap of $379.14 billion, a P/E ratio of 698.52, a price-to-earnings-growth ratio of 13.15 and a beta of 2.60.

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

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Alexander C. Karp sold 358,982 shares of the company'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 $45,371,734.98. Following the completion of the transaction, the insider owned 6,432,258 shares in the company, valued at $812,973,088.62. This represents a 5.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David A. Glazer sold 30,812 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 value of $3,894,328.68. Following the completion of the transaction, the insider owned 495,497 shares of the company's stock, valued at $62,625,865.83. This trade represents a 5.85% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,485,632 shares of company stock valued at $191,222,623 over the last three months. 12.93% of the stock is currently owned by company insiders.

Institutional Trading of Palantir Technologies

Several institutional investors and hedge funds have recently modified their holdings of PLTR. Assenagon Asset Management S.A. lifted its stake in shares of Palantir Technologies by 15.0% in the 1st quarter. Assenagon Asset Management S.A. now owns 49,651 shares of the company's stock valued at $4,191,000 after purchasing an additional 6,479 shares during the period. Garrison Bradford & Associates Inc. bought a new stake in Palantir Technologies during the first quarter valued at about $45,000. Menard Financial Group LLC grew its holdings in Palantir Technologies by 8.2% during the first quarter. Menard Financial Group LLC now owns 25,938 shares of the company's stock valued at $2,189,000 after purchasing an additional 1,964 shares during the period. TCW Group Inc. boosted its stake in shares of Palantir Technologies by 14.5% in the first quarter. TCW Group Inc. now owns 32,031 shares of the company's stock worth $2,703,000 after acquiring an additional 4,068 shares during the period. Finally, Sagespring Wealth Partners LLC boosted its stake in shares of Palantir Technologies by 36.3% in the first quarter. Sagespring Wealth Partners LLC now owns 24,054 shares of the company's stock worth $2,030,000 after acquiring an additional 6,405 shares during the period. 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.

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