Palantir Technologies (NASDAQ:PLTR) Price Target Raised to $98.00

Palantir Technologies (NASDAQ:PLTR) had its price objective increased by Cantor Fitzgerald from $72.00 to $98.00 in a report issued on Tuesday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock. Cantor Fitzgerald also issued estimates for Palantir Technologies’ FY2025 earnings at $0.37 EPS.

PLTR has been the topic of several other research reports. The Goldman Sachs Group boosted their price objective on Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. DA Davidson boosted their price objective on Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Argus downgraded Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Wedbush boosted their price objective on Palantir Technologies from $75.00 to $90.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Finally, Bank of America boosted their price objective on Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday. Six research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $69.44.

Palantir Technologies Stock Up 9.8 %

Shares of Palantir Technologies stock opened at $111.28 on Tuesday. Palantir Technologies has a 52 week low of $20.33 and a 52 week high of $111.55. The business’s fifty day simple moving average is $75.56 and its 200-day simple moving average is $52.26. The firm has a market cap of $253.50 billion, a PE ratio of 556.43, a price-to-earnings-growth ratio of 7.54 and a beta of 2.81.

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

Insider Activity at Palantir Technologies

In related news, insider Alexander C. Karp sold 1,823,602 shares of the company’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $63.12, for a total value of $115,105,758.24. Following the completion of the sale, the insider now directly owns 6,432,258 shares of the company’s stock, valued at $406,004,124.96. This represents a 22.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Stephen Andrew Cohen sold 450,000 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $70.95, for a total value of $31,927,500.00. Following the completion of the sale, the insider now directly owns 592 shares of the company’s stock, valued at approximately $42,002.40. This trade represents a 99.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 15,656,687 shares of company stock valued at $1,040,105,687 in the last three months. 12.93% of the stock is currently owned by company insiders.

Institutional Trading of Palantir Technologies

Large investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its position in Palantir Technologies by 60.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock worth $460,798,000 after acquiring an additional 4,667,955 shares during the period. Diversify Wealth Management LLC acquired a new stake in Palantir Technologies during the 4th quarter worth approximately $876,000. Destiny Wealth Partners LLC acquired a new stake in Palantir Technologies during the 4th quarter worth approximately $3,233,000. State of Alaska Department of Revenue lifted its position in Palantir Technologies by 22.9% during 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 during the period. Finally, Oppenheimer & Co. Inc. lifted its position in Palantir Technologies by 19.2% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 541,567 shares of the company’s stock worth $20,146,000 after acquiring an additional 87,062 shares during the period. 45.65% of the stock is owned by institutional investors and hedge funds.

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.