Palantir Technologies (NASDAQ:PLTR) Price Target Raised to $90.00 at The Goldman Sachs Group

Palantir Technologies (NASDAQ:PLTR - Get Free Report) had its price target upped by stock analysts at The Goldman Sachs Group from $80.00 to $90.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a "neutral" rating on the stock. The Goldman Sachs Group's target price indicates a potential downside of 16.36% from the stock's previous close.

PLTR has been the topic of a number of other reports. Loop Capital restated a "buy" rating on shares of Palantir Technologies in a report on Friday, April 4th. Daiwa Capital Markets assumed coverage on shares of Palantir Technologies in a research report on Tuesday, April 1st. They set a "neutral" rating and a $90.00 price target for the company. Jefferies Financial Group raised their price objective on Palantir Technologies from $28.00 to $60.00 and gave the company an "underperform" rating in a research report on Tuesday, February 4th. UBS Group upped their target price on Palantir Technologies from $105.00 to $110.00 and gave the stock a "neutral" rating in a research report on Tuesday. Finally, Daiwa America raised Palantir Technologies to a "hold" rating in a research report on Tuesday, April 1st. Five research analysts have rated the stock with a sell rating, sixteen have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Palantir Technologies currently has an average rating of "Hold" and an average price target of $79.86.

Palantir Technologies Price Performance

PLTR traded down $16.16 during trading on Tuesday, hitting $107.61. The company's stock had a trading volume of 149,270,866 shares, compared to its average volume of 75,996,256. Palantir Technologies has a twelve month low of $20.50 and a twelve month high of $125.41. The firm's 50 day moving average price is $91.86 and its 200-day moving average price is $80.55. The stock has a market cap of $252.37 billion, a PE ratio of 566.38, a PEG ratio of 10.84 and a beta of 2.68.

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

Insider Buying and Selling

In other news, insider Shyam Sankar sold 30,000 shares of Palantir Technologies stock in a transaction on Monday, February 24th. The stock was sold at an average price of $92.43, for a total transaction of $2,772,900.00. Following the transaction, the insider now owns 702,786 shares in the company, valued at approximately $64,958,509.98. The trade was a 4.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Heather A. Planishek sold 13,891 shares of the stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $115.96, for a total transaction of $1,610,800.36. Following the completion of the sale, the insider now owns 512,006 shares of the company's stock, valued at approximately $59,372,215.76. The trade was a 2.64 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,978,181 shares of company stock worth $252,115,667. Corporate insiders own 12.93% of the company's stock.

Institutional Trading of Palantir Technologies

Institutional investors have recently added to or reduced their stakes in the business. Mechanics Financial Corp acquired a new position in Palantir Technologies during the first quarter valued at approximately $25,000. Roxbury Financial LLC bought a new position in Palantir Technologies in the 4th quarter worth approximately $27,000. First PREMIER Bank acquired a new position in shares of Palantir Technologies during the fourth quarter worth approximately $28,000. Wolff Wiese Magana LLC boosted its position in shares of Palantir Technologies by 230.4% in the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company's stock valued at $29,000 after acquiring an additional 265 shares during the period. Finally, Cornerstone Planning Group LLC grew its stake in shares of Palantir Technologies by 90.2% in the first quarter. Cornerstone Planning Group LLC now owns 390 shares of the company's stock worth $33,000 after acquiring an additional 185 shares during the last quarter. 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.

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