Citigroup Issues Positive Forecast for Palantir Technologies (NASDAQ:PLTR) Stock Price

Palantir Technologies (NASDAQ:PLTR) had its target price boosted by Citigroup from $42.00 to $110.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s target price would indicate a potential upside of 5.94% from the company’s previous close.

Other equities analysts also recently issued research reports about the stock. Argus downgraded shares of Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Baird R W upgraded shares of Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. Royal Bank of Canada lifted their price objective on shares of Palantir Technologies from $11.00 to $40.00 and gave the company an “underperform” rating in a research note on Tuesday. DA Davidson lifted their price objective on shares of Palantir Technologies from $47.00 to $105.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, The Goldman Sachs Group lifted their price objective on shares of Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Six 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, the stock currently has an average rating of “Hold” and an average price target of $69.44.

Palantir Technologies Stock Up 24.0 %

PLTR opened at $103.83 on Wednesday. The firm has a market capitalization of $236.53 billion, a P/E ratio of 519.18, a P/E/G ratio of 7.54 and a beta of 2.81. The firm’s 50 day moving average is $74.85 and its 200-day moving average is $51.92. Palantir Technologies has a 52-week low of $16.48 and a 52-week high of $106.91.

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

Insiders Place Their Bets

In other news, insider Alexander C. Karp sold 4,500,000 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $55.03, for a total transaction of $247,635,000.00. Following the completion of the transaction, the insider now directly owns 6,432,258 shares in the company, valued at $353,967,157.74. The trade was a 41.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Alexandra W. Schiff sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $71.63, for a total value of $286,520.00. Following the transaction, the director now owns 195,393 shares of the company’s stock, valued at approximately $13,996,000.59. This trade represents a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,153,753 shares of company stock valued at $1,287,042,675 over the last 90 days. 12.93% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PLTR. Czech National Bank acquired a new position in shares of Palantir Technologies in the third quarter valued at $15,261,000. GAMMA Investing LLC raised its stake in shares of Palantir Technologies by 83.9% in the third quarter. GAMMA Investing LLC now owns 5,713 shares of the company’s stock valued at $213,000 after purchasing an additional 2,607 shares in the last quarter. Azzad Asset Management Inc. ADV bought a new stake in Palantir Technologies in the third quarter valued at $209,000. Diversified Trust Co grew its position in Palantir Technologies by 172.7% in the third quarter. Diversified Trust Co now owns 21,559 shares of the company’s stock valued at $802,000 after acquiring an additional 13,652 shares during the period. Finally, Miracle Mile Advisors LLC grew its position in Palantir Technologies by 8.6% in the third quarter. Miracle Mile Advisors LLC now owns 16,308 shares of the company’s stock valued at $607,000 after acquiring an additional 1,298 shares during the period. 45.65% of the stock is currently 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.