Palantir Technologies (NYSE:PLTR) PT Raised to $24.00 at DA Davidson

Palantir Technologies (NYSE:PLTR) had its target price upped by equities research analysts at DA Davidson from $19.00 to $24.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. DA Davidson’s price target would suggest a potential upside of 11.52% from the stock’s current price.

A number of other brokerages have also commented on PLTR. Raymond James lifted their price objective on Palantir Technologies from $22.00 to $25.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 6th. Wedbush restated an “outperform” rating and set a $35.00 price objective on shares of Palantir Technologies in a research note on Monday. Mizuho increased their target price on Palantir Technologies from $18.00 to $21.00 and gave the company a “neutral” rating in a research report on Thursday, March 7th. Deutsche Bank Aktiengesellschaft upped their target price on Palantir Technologies from $18.00 to $20.00 and gave the company a “sell” rating in a research report on Tuesday. Finally, Jefferies Financial Group upgraded Palantir Technologies from an “underperform” rating to a “hold” rating and boosted their target price for the stock from $13.00 to $22.00 in a research note on Tuesday, February 6th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Palantir Technologies has a consensus rating of “Hold” and an average price target of $19.88.

Palantir Technologies Price Performance

Shares of NYSE PLTR traded down $3.69 during mid-day trading on Tuesday, hitting $21.52. The company had a trading volume of 83,920,311 shares, compared to its average volume of 62,683,484. Palantir Technologies has a 12 month low of $7.59 and a 12 month high of $27.50. The firm’s 50 day simple moving average is $23.36 and its two-hundred day simple moving average is $20.25. The stock has a market cap of $47.62 billion, a price-to-earnings ratio of 237.47, a PEG ratio of 5.72 and a beta of 2.76.

Palantir Technologies (NYSE:PLTR) last announced its quarterly earnings results on Monday, February 5th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01). Palantir Technologies had a return on equity of 6.17% and a net margin of 9.43%. The business had revenue of $608.35 million for the quarter, compared to analyst estimates of $603.48 million. Equities analysts forecast that Palantir Technologies will post 0.16 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Alexander D. Moore sold 20,000 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $22.02, for a total value of $440,400.00. Following the sale, the director now owns 1,595,519 shares in the company, valued at approximately $35,133,328.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Alexandra W. Schiff sold 5,000 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $22.74, for a total transaction of $113,700.00. Following the completion of the transaction, the director now owns 186,783 shares in the company, valued at approximately $4,247,445.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Alexander D. Moore sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $22.02, for a total transaction of $440,400.00. Following the completion of the transaction, the director now owns 1,595,519 shares in the company, valued at $35,133,328.38. The disclosure for this sale can be found here. In the last three months, insiders sold 7,356,273 shares of company stock valued at $182,143,602. 13.96% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Palantir Technologies

A number of hedge funds have recently modified their holdings of PLTR. Raymond James & Associates raised its position in Palantir Technologies by 18.8% in the 3rd quarter. Raymond James & Associates now owns 1,563,991 shares of the company’s stock worth $25,024,000 after buying an additional 247,595 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Palantir Technologies by 1.0% in the third quarter. Bank of New York Mellon Corp now owns 7,537,415 shares of the company’s stock worth $120,599,000 after purchasing an additional 72,889 shares during the last quarter. Brown Advisory Inc. grew its holdings in shares of Palantir Technologies by 9.9% in the third quarter. Brown Advisory Inc. now owns 14,425 shares of the company’s stock worth $231,000 after purchasing an additional 1,300 shares during the last quarter. Mackenzie Financial Corp raised its stake in shares of Palantir Technologies by 26.0% during the third quarter. Mackenzie Financial Corp now owns 125,145 shares of the company’s stock valued at $1,865,000 after acquiring an additional 25,852 shares in the last quarter. Finally, Brighton Jones LLC lifted its holdings in shares of Palantir Technologies by 12.2% in the 3rd quarter. Brighton Jones LLC now owns 30,191 shares of the company’s stock worth $483,000 after buying an additional 3,294 shares during the period. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies Company Profile

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. The company provides Palantir Gotham, a software platform which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.