Northland Securities Boosts Palantir Technologies (NASDAQ:PLTR) Price Target to $80.00

Palantir Technologies (NASDAQ:PLTR) had its price objective raised by research analysts at Northland Securities from $38.00 to $80.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “market perform” rating on the stock. Northland Securities’ target price points to a potential downside of 4.47% from the company’s current price.

A number of other equities analysts have also recently commented on PLTR. UBS Group initiated coverage on Palantir Technologies in a report on Thursday, December 19th. They issued a “neutral” rating and a $80.00 target price for the company. William Blair reaffirmed an “underperform” rating on shares of Palantir Technologies in a research note on Wednesday, December 18th. Baird R W raised shares of Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. Mizuho lifted their price target on shares of Palantir Technologies from $37.00 to $44.00 and gave the stock an “underperform” rating in a research note on Friday, December 13th. Finally, Cantor Fitzgerald assumed coverage on shares of Palantir Technologies in a research report on Friday, January 17th. They issued a “neutral” rating and a $72.00 price objective on the stock. Six equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Palantir Technologies presently has an average rating of “Hold” and an average price target of $57.11.

Palantir Technologies Stock Performance

PLTR opened at $83.74 on Tuesday. The stock has a market capitalization of $190.76 billion, a price-to-earnings ratio of 418.72, a PEG ratio of 7.54 and a beta of 2.81. Palantir Technologies has a fifty-two week low of $16.48 and a fifty-two week high of $85.22. The company has a fifty day moving average of $73.71 and a 200 day moving average of $51.00.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The business had revenue of $725.52 million for the quarter, compared to the consensus estimate of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The company’s revenue was up 30.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.03 EPS. On average, equities research analysts forecast that Palantir Technologies will post 0.19 earnings per share for the current year.

Insiders Place Their Bets

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 8,860 shares of Palantir Technologies stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $58.06, for a total value of $514,411.60. Following the transaction, the director now owns 121,390 shares in the company, valued at $7,047,903.40. The trade was a 6.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Alexander C. Karp sold 4,500,000 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $55.03, for a total transaction of $247,635,000.00. Following the sale, the insider now directly owns 6,432,258 shares of the company’s stock, valued at approximately $353,967,157.74. The trade was a 41.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,153,753 shares of company stock worth $1,287,042,675 in the last three months. Corporate insiders own 12.93% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Northwest Investment Counselors LLC acquired a new position in shares of Palantir Technologies during the third quarter worth $25,000. Prestige Wealth Management Group LLC raised its stake in Palantir Technologies by 747.1% in the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after buying an additional 650 shares during the last quarter. Roxbury Financial LLC acquired a new stake in Palantir Technologies in the fourth quarter worth about $27,000. First PREMIER Bank purchased a new stake in shares of Palantir Technologies during the fourth quarter worth about $28,000. Finally, Wolff Wiese Magana LLC grew its stake in shares of Palantir Technologies by 230.4% during the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock worth $29,000 after acquiring an additional 265 shares during the last quarter. Institutional investors 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.