Palantir Technologies (NASDAQ:PLTR) Stock Price Expected to Rise, Bank of America Analyst Says

Key Points

• Bank of America has raised its price target for Palantir Technologies from $180.00 to $215.00, reflecting a potential upside of 19.89% based on the company's previous close.
• Palantir recently reported earnings of $0.16 per share, outperforming expectations of $0.14, alongside a revenue increase of 48.0% year-over-year.
• Insider transactions reveal significant activity, with over 1.6 million shares sold by company insiders in recent months, reflecting a 12.93% ownership stake by insiders.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) had its price target upped by research analysts at Bank of America from $180.00 to $215.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Bank of America's price objective indicates a potential upside of 19.89% from the company's previous close.

Several other equities analysts also recently weighed in on PLTR. Cantor Fitzgerald lifted their target price on Palantir Technologies from $110.00 to $155.00 and gave the company a "neutral" rating in a research report on Tuesday, August 5th. Wedbush set a $200.00 price objective on Palantir Technologies and gave the company an "outperform" rating in a research note on Tuesday, August 5th. Loop Capital lifted their price objective on Palantir Technologies from $178.00 to $180.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. UBS Group reiterated a "neutral" rating and issued a $165.00 price objective (up previously from $110.00) on shares of Palantir Technologies in a research note on Tuesday, August 5th. Finally, DA Davidson set a $170.00 price objective on Palantir Technologies and gave the company a "neutral" rating in a research note on Tuesday, August 5th. Four analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $140.22.

Palantir Technologies Price Performance

NASDAQ PLTR opened at $179.33 on Tuesday. The company has a market cap of $425.43 billion, a P/E ratio of 597.79, a P/E/G ratio of 10.28 and a beta of 2.59. The stock has a 50-day moving average of $163.92 and a two-hundred day moving average of $131.20. Palantir Technologies has a 1-year low of $36.05 and a 1-year high of $190.00.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its earnings results 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. The company had revenue of $1 billion during the quarter, compared to the consensus estimate of $939.29 million. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%.Palantir Technologies's revenue was up 48.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.09 EPS. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, analysts anticipate that Palantir Technologies will post 0.31 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider David A. Glazer sold 81,000 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $154.47, for a total value of $12,512,070.00. Following the transaction, the insider owned 431,169 shares of the company's stock, valued at approximately $66,602,675.43. The trade was a 15.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Ryan D. Taylor sold 36,048 shares of the business's stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $158.35, for a total value of $5,708,200.80. Following the completion of the transaction, the insider directly owned 307,470 shares in the company, valued at approximately $48,687,874.50. The trade was a 10.49% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,634,634 shares of company stock valued at $250,524,804. 12.93% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Canal Capital Management LLC grew its holdings in Palantir Technologies by 9.5% during the second quarter. Canal Capital Management LLC now owns 4,572 shares of the company's stock worth $623,000 after acquiring an additional 397 shares during the period. Base Wealth Management LLC acquired a new position in Palantir Technologies during the second quarter worth $290,000. Migdal Insurance & Financial Holdings Ltd. grew its holdings in Palantir Technologies by 274.0% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,730 shares of the company's stock worth $372,000 after acquiring an additional 2,000 shares during the period. Valeo Financial Advisors LLC grew its holdings in Palantir Technologies by 15.3% during the second quarter. Valeo Financial Advisors LLC now owns 53,395 shares of the company's stock worth $7,279,000 after acquiring an additional 7,071 shares during the period. Finally, Silicon Valley Capital Partners grew its holdings in Palantir Technologies by 1,578.9% during the second quarter. Silicon Valley Capital Partners now owns 1,595 shares of the company's stock worth $217,000 after acquiring an additional 1,500 shares during the period. Institutional investors and hedge funds 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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