Palantir Technologies (NASDAQ:PLTR) Trading Up 1.8% After Analyst Upgrade

Key Points

• Palantir Technologies' stock rose by 1.8% after Bank of America raised its price target from $180.00 to $215.00, maintaining a buy rating on the stock.
• The company reported a quarterly earnings per share of $0.16, exceeding analysts' expectations, with a revenue of $1 billion, up 48% year-over-year.
• Insider trading activity included sales by Jeffrey Buckley and Lauren Elaina Friedman Stat, with significant decreases in their holdings, as corporate insiders have sold around $250 million worth of stock in the past 90 days.

Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report)'s share price was up 1.8% on Tuesday after Bank of America raised their price target on the stock from $180.00 to $215.00. Bank of America currently has a buy rating on the stock. Palantir Technologies traded as high as $185.75 and last traded at $182.55. Approximately 61,974,375 shares changed hands during trading, a decline of 30% from the average daily volume of 88,827,344 shares. The stock had previously closed at $179.33.

PLTR has been the topic of a number of other reports. Mizuho set a $165.00 price target on shares of Palantir Technologies in a research note on Monday, September 15th. Deutsche Bank Aktiengesellschaft raised shares of Palantir Technologies from a "sell" rating to a "hold" rating and raised their price objective for the stock from $80.00 to $160.00 in a research report on Tuesday, August 5th. Royal Bank Of Canada raised their price objective on shares of Palantir Technologies from $40.00 to $45.00 and gave the stock an "underperform" rating in a research note on Tuesday, August 5th. Cantor Fitzgerald raised their price target on Palantir Technologies from $110.00 to $155.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 5th. Finally, Wall Street Zen lowered Palantir Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th. Four analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $140.22.

Insider Activity

In other news, insider Jeffrey Buckley sold 2,803 shares of Palantir Technologies stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $157.00, for a total value of $440,071.00. Following the completion of the transaction, the insider owned 50,961 shares in the company, valued at approximately $8,000,877. The trade was a 5.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Lauren Elaina Friedman Stat sold 9,000 shares of the company's stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $177.60, for a total value of $1,598,400.00. Following the transaction, the director directly owned 50,794 shares in the company, valued at approximately $9,021,014.40. This represents a 15.05% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,634,634 shares of company stock valued at $250,524,804 over the last 90 days. Corporate insiders own 12.93% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Revolve Wealth Partners LLC acquired a new stake in Palantir Technologies during the 4th quarter worth approximately $450,000. Bison Wealth LLC boosted its holdings in Palantir Technologies by 37.4% in the 4th quarter. Bison Wealth LLC now owns 17,130 shares of the company's stock valued at $1,296,000 after purchasing an additional 4,667 shares during the period. Two Sigma Investments LP grew its position in shares of Palantir Technologies by 132.4% during the 4th quarter. Two Sigma Investments LP now owns 55,083 shares of the company's stock worth $4,166,000 after purchasing an additional 31,383 shares in the last quarter. Toronto Dominion Bank raised its position in shares of Palantir Technologies by 266.2% in the fourth quarter. Toronto Dominion Bank now owns 3,932,955 shares of the company's stock valued at $297,449,000 after buying an additional 2,859,091 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its stake in shares of Palantir Technologies by 26.8% in the fourth quarter. Mackenzie Financial Corp now owns 235,979 shares of the company's stock valued at $17,847,000 after buying an additional 49,881 shares during the period. 45.65% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Price Performance

The stock has a 50-day moving average of $163.92 and a 200-day moving average of $131.20. The firm has a market cap of $433.07 billion, a price-to-earnings ratio of 608.52, a P/E/G ratio of 10.28 and a beta of 2.59.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The company reported $0.16 earnings per share for the quarter, topping analysts' consensus estimates 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 net margin of 22.18% and a return on equity of 10.75%. The firm's quarterly revenue was up 48.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.09 EPS. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, equities analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

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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