Palantir Technologies' (PLTR) Buy Rating Reaffirmed at DA Davidson

Key Points

• DA Davidson reiterated its Buy rating on Palantir Technologies and kept a $175 price target, implying roughly 32% upside from the prior close.
• Palantir shares fell 1.7% on Friday to $132.15, even as the stock has remained volatile and trades below its 200-day moving average.
• The company’s latest earnings were strong, with $0.33 EPS versus estimates of $0.28 and revenue of $1.63 billion, up 84.7% year over year.

Palantir Technologies (NASDAQ:PLTR - Get Free Report)'s stock had its "buy" rating reiterated by equities researchers at DA Davidson in a research note issued on Friday,Benzinga reports. They currently have a $175.00 price objective on the stock. DA Davidson's price objective indicates a potential upside of 32.43% from the company's previous close.

Other analysts have also recently issued research reports about the stock. BTIG Research cut shares of Palantir Technologies to a "neutral" rating in a research note on Tuesday, June 16th. Royal Bank Of Canada reaffirmed an "underperform" rating and issued a $90.00 target price on shares of Palantir Technologies in a report on Tuesday, May 5th. UBS Group upgraded shares of Palantir Technologies from a "buy" rating to a "buy" rating in a research report on Tuesday, June 16th. Argus raised Palantir Technologies from a "hold" rating to a "buy" rating and set a $190.00 price target on the stock in a research note on Wednesday, May 6th. Finally, Cantor Fitzgerald restated a "neutral" rating and issued a $138.00 price target on shares of Palantir Technologies in a report on Friday, May 22nd. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $190.85.

Palantir Technologies Stock Down 1.7%

PLTR stock traded down $2.29 on Friday, reaching $132.15. 24,615,956 shares of the company's stock were exchanged, compared to its average volume of 46,872,254. The stock has a fifty day moving average of $132.30 and a 200-day moving average of $144.38. Palantir Technologies has a twelve month low of $106.37 and a twelve month high of $207.52. The firm has a market cap of $316.80 billion, a PE ratio of 148.17, a P/E/G ratio of 2.14 and a beta of 1.56.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its earnings results on Monday, May 4th. The company reported $0.33 EPS for the quarter, beating analysts' consensus estimates of $0.28 by $0.05. Palantir Technologies had a return on equity of 28.34% and a net margin of 43.67%.The company had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter last year, the company earned $0.13 earnings per share. Palantir Technologies's quarterly revenue was up 84.7% compared to the same quarter last year. On average, equities research analysts predict that Palantir Technologies will post 1.17 EPS for the current fiscal year.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 319,934 shares of the company's stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total value of $43,523,821.36. Following the sale, the insider owned 592 shares of the company's stock, valued at $80,535.68. This represents a 99.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider David A. Glazer sold 17,128 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total transaction of $2,330,093.12. Following the completion of the sale, the insider owned 375,242 shares in the company, valued at $51,047,921.68. This represents a 4.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 1,112,270 shares of company stock valued at $150,247,785 in the last quarter. 9.53% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Palantir Technologies

A number of large investors have recently bought and sold shares of the stock. Basepoint Wealth LLC purchased a new stake in Palantir Technologies during the 4th quarter worth about $29,000. Ballast Advisors LLC purchased a new position in Palantir Technologies in the 1st quarter valued at about $29,000. Morton Brown Family Wealth LLC boosted its stake in shares of Palantir Technologies by 250.0% during the 4th quarter. Morton Brown Family Wealth LLC now owns 175 shares of the company's stock worth $31,000 after purchasing an additional 125 shares during the last quarter. Cornerstone Financial Management LLC acquired a new stake in shares of Palantir Technologies during the 4th quarter worth about $31,000. Finally, Clayton Financial Group LLC grew its holdings in shares of Palantir Technologies by 500.0% during the fourth quarter. Clayton Financial Group LLC now owns 180 shares of the company's stock worth $32,000 after buying an additional 150 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company's stock.

More Palantir Technologies News

Here are the key news stories impacting Palantir Technologies this week:

• Positive Sentiment: Palantir is being grouped with top AI infrastructure winners, and its Nvidia collaboration on sovereign AI is reinforcing the bull case that PLTR could benefit from rising AI spending. Alex Karp Grouped Palantir With These 3 Unstoppable Stocks as the Only True Artificial Intelligence (AI) Infrastructure Winners
• Positive Sentiment: Analysts and commentators continue to frame Palantir as a leading hypergrowth AI name, which can support investor interest ahead of the next earnings report. Palantir vs. SoundHound: Which AI Stock Is the Better Buy Ahead of Q2 Earnings?
• Neutral Sentiment: Palantir CEO Alex Karp warned that AI could widen wealth inequality, a big-picture statement that adds to the broader AI debate but does not directly change the company’s fundamentals. Palantir CEO Alex Karp Warns AI Could Become America's Biggest Driver of Wealth Inequality: 'You Now Have a Revolution Where…'
• Neutral Sentiment: Palantir is drawing renewed attention as investors wait for Q2 earnings and as technical analysts debate whether the recent pullback is a buying opportunity or a sign of more downside. Palantir Stock Price Outlook: What Technical Analysis Says Right Now
• Negative Sentiment: Investors remain concerned that PLTR’s valuation is still very demanding after a steep year-to-date decline, with some coverage pointing to insider selling and divided analyst price targets as reasons the stock may stay volatile. Palantir's Wild Ride: Inside the Stock Wall Street Can't Agree On

Palantir Technologies Company Profile

Palantir Technologies is a software company that develops data integration, analytics and operational decision-making platforms for government and commercial customers. Founded in 2003 by a team that included Alex Karp and Peter Thiel, Palantir has grown into a provider of enterprise-scale software designed to help organizations integrate disparate data sources, build analytic models and drive operational workflows. The company went public in 2020 and continues to position its products around large, complex data projects where security, provenance and real-time collaboration are important.

Palantir's product portfolio centers on a small number of core platforms.

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