UBS Group Forecasts Strong Price Appreciation for Palantir Technologies (NASDAQ:PLTR) Stock

Palantir Technologies (NASDAQ:PLTR - Get Free Report) had its price target upped by investment analysts at UBS Group from $105.00 to $110.00 in a report released on Tuesday, MarketBeat Ratings reports. The firm presently has a "neutral" rating on the stock. UBS Group's target price would indicate a potential downside of 0.39% from the stock's current price.

Several other equities research analysts have also recently issued reports on PLTR. Robert W. Baird raised their price objective on Palantir Technologies from $70.00 to $100.00 and gave the stock a "neutral" rating in a report on Tuesday, February 4th. Daiwa America raised Palantir Technologies to a "hold" rating in a research note on Tuesday, April 1st. Wedbush reaffirmed an "outperform" rating and set a $120.00 price objective on shares of Palantir Technologies in a research note on Monday, March 3rd. William Blair set a $84.00 target price on shares of Palantir Technologies in a research report on Wednesday, March 5th. Finally, Citigroup upped their price target on shares of Palantir Technologies from $42.00 to $110.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 5th. Five investment 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's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $80.81.

Palantir Technologies Stock Up 1.4 %

Shares of PLTR traded up $1.57 during trading hours on Tuesday, reaching $110.43. 95,394,690 shares of the company traded hands, compared to its average volume of 75,532,140. The stock has a fifty day simple moving average of $92.85 and a 200 day simple moving average of $80.95. Palantir Technologies has a fifty-two week low of $20.50 and a fifty-two week high of $125.41. The stock has a market capitalization of $259.00 billion, a PE ratio of 581.24, a price-to-earnings-growth ratio of 10.84 and a beta of 2.68.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly 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 company 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 firm's revenue for the quarter was up 39.4% compared to the same quarter last year. During the same period last year, the company earned $0.08 EPS. Research analysts predict that Palantir Technologies will post 0.31 EPS for the current fiscal year.

Insiders Place Their Bets

In other Palantir Technologies news, Director Alexandra W. Schiff sold 6,776 shares of the firm's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $86.63, for a total transaction of $587,004.88. Following the completion of the transaction, the director now directly owns 184,617 shares of the company's stock, valued at $15,993,370.71. This trade represents a 3.54 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Heather A. Planishek sold 13,891 shares of the company's stock in a transaction dated Tuesday, February 11th. The shares were 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 in the company, valued at approximately $59,372,215.76. This trade represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,978,181 shares of company stock worth $252,115,667 in the last quarter. 12.93% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Palantir Technologies

Several large investors have recently added to or reduced their stakes in PLTR. Mechanics Financial Corp acquired a new stake in Palantir Technologies in the first quarter worth $25,000. Roxbury Financial LLC bought a new stake in shares of Palantir Technologies during the fourth quarter valued at about $27,000. First PREMIER Bank acquired a new stake in Palantir Technologies in the fourth quarter worth about $28,000. Wolff Wiese Magana LLC increased its stake in Palantir Technologies by 230.4% during the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company's stock valued at $29,000 after buying an additional 265 shares during the period. Finally, Cornerstone Planning Group LLC raised its position in shares of Palantir Technologies by 90.2% during the 1st quarter. Cornerstone Planning Group LLC now owns 390 shares of the company's stock worth $33,000 after buying an additional 185 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors.

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.