DA Davidson Raises Palantir Technologies (NYSE:PLTR) Price Target to $24.00

Palantir Technologies (NYSE:PLTR) had its target price hoisted by investment analysts at DA Davidson from $19.00 to $24.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. DA Davidson’s target price indicates a potential upside of 11.32% from the stock’s current price. DA Davidson also issued estimates for Palantir Technologies’ FY2025 earnings at $0.25 EPS.

PLTR has been the subject of a number of other reports. Raymond James lifted their target price on Palantir Technologies from $22.00 to $25.00 and gave the company an “outperform” rating in a research note on Tuesday, February 6th. Mizuho upped their price objective on Palantir Technologies from $18.00 to $21.00 and gave the stock a “neutral” rating in a research note on Thursday, March 7th. Royal Bank of Canada reaffirmed an “underperform” rating and issued a $5.00 target price on shares of Palantir Technologies in a research report on Tuesday, February 6th. Citigroup raised shares of Palantir Technologies from a “sell” rating to a “neutral” rating and boosted their price target for the company from $10.00 to $20.00 in a report on Tuesday, February 6th. Finally, Jefferies Financial Group raised shares of Palantir Technologies from an “underperform” rating to a “hold” rating and increased their price objective for the stock from $13.00 to $22.00 in a report on Tuesday, February 6th. Five 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. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $20.65.

Palantir Technologies Price Performance

NYSE PLTR opened at $21.56 on Tuesday. The company has a market capitalization of $47.71 billion, a price-to-earnings ratio of 239.58, a price-to-earnings-growth ratio of 5.72 and a beta of 2.76. Palantir Technologies has a 12 month low of $8.65 and a 12 month high of $27.50. The company’s fifty day moving average price is $23.34 and its two-hundred day moving average price is $20.35.

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

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Shyam Sankar sold 29,168 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $25.00, for a total value of $729,200.00. Following the completion of the sale, the insider now directly owns 752,786 shares in the company, valued at $18,819,650. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Alexander D. Moore sold 20,000 shares of Palantir Technologies stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $22.02, for a total value of $440,400.00. Following the transaction, the director now owns 1,595,519 shares of the company’s stock, valued at approximately $35,133,328.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Shyam Sankar sold 29,168 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $25.00, for a total transaction of $729,200.00. Following the sale, the insider now directly owns 752,786 shares of the company’s stock, valued at $18,819,650. The disclosure for this sale can be found here. Insiders have sold 7,206,273 shares of company stock worth $178,543,602 over the last quarter. 13.96% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Truvestments Capital LLC boosted its position in shares of Palantir Technologies by 74.9% in the third quarter. Truvestments Capital LLC now owns 1,635 shares of the company’s stock worth $26,000 after buying an additional 700 shares during the period. First United Bank & Trust acquired a new stake in Palantir Technologies during the 4th quarter worth about $26,000. Pacifica Partners Inc. purchased a new position in Palantir Technologies during the 4th quarter valued at about $27,000. West Paces Advisors Inc. increased its holdings in shares of Palantir Technologies by 110.7% in the 1st quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock valued at $27,000 after purchasing an additional 620 shares during the period. Finally, Massmutual Trust Co. FSB ADV lifted its position in shares of Palantir Technologies by 105.3% in the first quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock worth $31,000 after purchasing an additional 691 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

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.