Palantir Technologies (NASDAQ:PLTR) Stock Price Expected to Rise, Robert W. Baird Analyst Says

Palantir Technologies (NASDAQ:PLTR) had its price objective upped by equities researchers at Robert W. Baird from $70.00 to $100.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Robert W. Baird’s price objective points to a potential downside of 1.34% from the company’s current price.

Several other brokerages have also recently issued reports on PLTR. The Goldman Sachs Group upped their price target on shares of Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Morgan Stanley upgraded Palantir Technologies from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $60.00 to $95.00 in a report on Tuesday. Mizuho lifted their target price on Palantir Technologies from $37.00 to $44.00 and gave the stock an “underperform” rating in a report on Friday, December 13th. Bank of America increased their price target on Palantir Technologies from $55.00 to $75.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Finally, Argus lowered Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Six analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $69.44.

Palantir Technologies Stock Down 2.4 %

Shares of PLTR stock opened at $101.36 on Tuesday. Palantir Technologies has a twelve month low of $19.76 and a twelve month high of $106.91. The stock’s fifty day simple moving average is $74.85 and its 200 day simple moving average is $51.92. The firm has a market capitalization of $230.90 billion, a P/E ratio of 506.83, a P/E/G ratio of 7.54 and a beta of 2.81.

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

Insider Activity

In related news, Director Lauren Elaina Friedman Stat sold 8,860 shares of the stock in a transaction on 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 directly owns 121,390 shares in the company, valued at $7,047,903.40. This trade represents a 6.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Alexander C. Karp sold 1,823,602 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $63.12, for a total transaction of $115,105,758.24. Following the sale, the insider now owns 6,432,258 shares of the company’s stock, valued at $406,004,124.96. This trade represents a 22.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,653,753 shares of company stock worth $1,039,407,675 in the last three months. Company insiders own 12.93% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

Hedge funds have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. boosted its position in shares of Palantir Technologies by 60.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock valued at $460,798,000 after buying an additional 4,667,955 shares during the last quarter. Diversify Wealth Management LLC bought a new position in Palantir Technologies during the 4th quarter valued at $876,000. Destiny Wealth Partners LLC purchased a new position in Palantir Technologies during the 4th quarter worth $3,233,000. State of Alaska Department of Revenue grew its stake in shares of Palantir Technologies by 22.9% in the 3rd quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company’s stock worth $13,786,000 after acquiring an additional 68,945 shares in the last quarter. Finally, Oppenheimer & Co. Inc. raised its holdings in shares of Palantir Technologies by 19.2% in the third quarter. Oppenheimer & Co. Inc. now owns 541,567 shares of the company’s stock valued at $20,146,000 after purchasing an additional 87,062 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Company Profile

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.