Palantir Technologies (NYSE:PLTR) Price Target Raised to $16.00

Palantir Technologies (NYSE:PLTR) had its target price boosted by The Goldman Sachs Group from $14.00 to $16.00 in a report published on Wednesday, Benzinga reports. They currently have a neutral rating on the stock.

PLTR has been the topic of several other reports. Deutsche Bank Aktiengesellschaft increased their target price on shares of Palantir Technologies from $20.00 to $21.00 and gave the stock a sell rating in a research report on Tuesday. Citigroup upped their target price on Palantir Technologies from $25.00 to $28.00 and gave the stock a neutral rating in a research report on Tuesday, July 30th. DA Davidson lifted their price target on shares of Palantir Technologies from $24.00 to $28.00 and gave the company a neutral rating in a research report on Tuesday. Mizuho downgraded shares of Palantir Technologies from a neutral rating to an underperform rating and lifted their target price for the stock from $21.00 to $22.00 in a report on Tuesday, July 16th. Finally, Jefferies Financial Group raised their price target on Palantir Technologies from $24.00 to $28.00 and gave the company a hold rating in a research report on Monday, July 29th. Six research analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Palantir Technologies presently has a consensus rating of Hold and an average target price of $23.14.

Palantir Technologies Stock Performance

Shares of PLTR stock traded up $0.73 during trading on Wednesday, hitting $30.01. 88,131,106 shares of the company were exchanged, compared to its average volume of 48,413,612. The business’s 50-day simple moving average is $25.97 and its 200 day simple moving average is $23.65. Palantir Technologies has a twelve month low of $13.68 and a twelve month high of $30.36. The firm has a market capitalization of $66.83 billion, a price-to-earnings ratio of 250.10, a P/E/G ratio of 6.14 and a beta of 2.71.

Palantir Technologies (NYSE:PLTR) last issued its earnings results on Monday, August 5th. The company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. The firm had revenue of $678.13 million for the quarter, compared to the consensus estimate of $653.23 million. Palantir Technologies had a return on equity of 9.24% and a net margin of 16.32%. The business’s quarterly revenue was up 27.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.01 earnings per share. On average, equities analysts forecast that Palantir Technologies will post 0.16 earnings per share for the current fiscal year.

Insider Activity at Palantir Technologies

In other news, Director Eric H. Woersching sold 26,000 shares of the business’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $23.32, for a total value of $606,320.00. Following the completion of the transaction, the director now owns 38,843 shares of the company’s stock, valued at approximately $905,818.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Eric H. Woersching sold 26,000 shares of Palantir Technologies stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $23.32, for a total transaction of $606,320.00. Following the transaction, the director now owns 38,843 shares in the company, valued at approximately $905,818.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lauren Elaina Friedman Stat sold 3,050 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $26.43, for a total value of $80,611.50. Following the sale, the director now directly owns 65,989 shares of the company’s stock, valued at $1,744,089.27. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 164,396 shares of company stock worth $4,389,707. 12.93% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Palantir Technologies

Several institutional investors have recently added to or reduced their stakes in the stock. Summit Securities Group LLC bought a new stake in shares of Palantir Technologies in the second quarter valued at about $25,000. Farmers & Merchants Investments Inc. bought a new stake in Palantir Technologies in the 2nd quarter valued at approximately $25,000. West Paces Advisors Inc. boosted its position in Palantir Technologies by 110.7% during the 1st quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock worth $27,000 after acquiring an additional 620 shares during the last quarter. Massmutual Trust Co. FSB ADV grew its stake in shares of Palantir Technologies by 105.3% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock worth $31,000 after acquiring an additional 691 shares in the last quarter. Finally, Bogart Wealth LLC raised its holdings in shares of Palantir Technologies by 332.8% in the first quarter. Bogart Wealth LLC now owns 1,385 shares of the company’s stock valued at $32,000 after purchasing an additional 1,065 shares during the last quarter. 45.65% of the stock is owned by institutional investors.

About Palantir Technologies

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. The company provides Palantir Gotham, a software platform which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.