Palantir Technologies (NASDAQ:PLTR – Get Free Report) had its price objective hoisted by equities researchers at Royal Bank of Canada from $11.00 to $40.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an “underperform” rating on the stock. Royal Bank of Canada’s target price points to a potential downside of 60.86% from the stock’s current price.
Several other analysts have also issued reports on the stock. William Blair reiterated an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 18th. Baird R W raised shares of Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. Morgan Stanley raised shares of Palantir Technologies from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $60.00 to $95.00 in a research note on Tuesday. Cantor Fitzgerald raised their price target on shares of Palantir Technologies from $72.00 to $98.00 and gave the stock a “neutral” rating in a research note on Tuesday. Finally, Wedbush raised their price target on shares of Palantir Technologies from $75.00 to $90.00 and gave the stock an “outperform” rating in a research note on Thursday, January 23rd. 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. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $64.89.
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Palantir Technologies Price Performance
Palantir Technologies (NASDAQ:PLTR – Get Free Report) last released 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 net margin of 18.01% and a return on equity of 9.94%. The company had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. During the same quarter last year, the business earned $0.03 earnings per share. The firm’s revenue was up 30.0% on a year-over-year basis. On average, research analysts predict that Palantir Technologies will post 0.19 earnings per share for the current year.
Insider Activity at Palantir Technologies
In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 8,860 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $58.06, for a total transaction of $514,411.60. Following the completion of 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 position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Shyam Sankar sold 5,250,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $70.08, for a total transaction of $367,920,000.00. Following the transaction, the insider now owns 752,786 shares of the company’s stock, valued at $52,755,242.88. This trade represents a 87.46 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,153,753 shares of company stock worth $1,287,042,675. Corporate insiders own 12.93% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in PLTR. Czech National Bank acquired a new position in Palantir Technologies during the 3rd quarter worth approximately $15,261,000. GAMMA Investing LLC lifted its position in shares of Palantir Technologies by 83.9% during the 3rd quarter. GAMMA Investing LLC now owns 5,713 shares of the company’s stock worth $213,000 after buying an additional 2,607 shares during the last quarter. Azzad Asset Management Inc. ADV purchased a new stake in shares of Palantir Technologies during the 3rd quarter worth approximately $209,000. Diversified Trust Co lifted its position in shares of Palantir Technologies by 172.7% during the 3rd quarter. Diversified Trust Co now owns 21,559 shares of the company’s stock worth $802,000 after buying an additional 13,652 shares during the last quarter. Finally, Smith Anglin Financial LLC purchased a new stake in shares of Palantir Technologies during the 3rd quarter worth approximately $273,000. 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.
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