HSBC Boosts Palantir Technologies (NYSE:PLTR) Price Target to $23.00

Palantir Technologies (NYSE:PLTR) had its target price lifted by HSBC from $22.00 to $23.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has a “hold” rating on the stock. HSBC’s target price would indicate a potential upside of 6.68% from the stock’s previous close.

Several other equities research analysts have also commented on the company. Mizuho boosted 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. Monness Crespi & Hardt raised Palantir Technologies from a “sell” rating to a “neutral” rating in a research note on Friday, April 26th. Royal Bank of Canada upped their target price on shares of Palantir Technologies from $5.00 to $9.00 and gave the stock an “underperform” rating in a report on Tuesday. Wedbush restated an “outperform” rating and set a $35.00 price target on shares of Palantir Technologies in a research report on Monday. Finally, DA Davidson increased their price objective on shares of Palantir Technologies from $19.00 to $24.00 and gave the company a “neutral” rating in a report on Tuesday. Five equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $20.65.

Palantir Technologies Stock Performance

Shares of NYSE PLTR opened at $21.56 on Tuesday. The firm has a fifty day moving average of $23.34 and a 200 day moving average of $20.35. The firm has a market cap of $47.71 billion, a PE ratio of 239.58, a PEG ratio of 5.72 and a beta of 2.76. Palantir Technologies has a one year low of $8.65 and a one year high of $27.50.

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

Insider Transactions at Palantir Technologies

In related news, Director Alexander D. Moore sold 20,000 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $22.02, for a total value of $440,400.00. Following the sale, the director now directly owns 1,595,519 shares in the company, valued at approximately $35,133,328.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Peter Thiel sold 7,044,756 shares of Palantir Technologies stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $24.79, for a total value of $174,639,501.24. Following the completion of the sale, the director now directly owns 70,806,432 shares of the company’s stock, valued at $1,755,291,449.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Alexander D. Moore sold 20,000 shares of the stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $22.02, for a total value of $440,400.00. Following the transaction, the director now directly owns 1,595,519 shares in the company, valued at approximately $35,133,328.38. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,206,273 shares of company stock worth $178,543,602. 13.96% of the stock is currently owned by company insiders.

Institutional Trading of Palantir Technologies

Institutional investors and hedge funds have recently bought and sold shares of the business. Pursue Wealth Partners LLC acquired a new stake in Palantir Technologies during the 4th quarter worth approximately $1,741,000. Qsemble Capital Management LP acquired a new stake in shares of Palantir Technologies in the third quarter valued at $1,178,000. Trexquant Investment LP purchased a new position in Palantir Technologies in the third quarter valued at $4,446,000. Raymond James Financial Services Advisors Inc. grew its stake in Palantir Technologies by 10.8% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 1,196,790 shares of the company’s stock worth $20,549,000 after purchasing an additional 116,220 shares in the last quarter. Finally, Victory Capital Management Inc. increased its holdings in Palantir Technologies by 3.9% during the 3rd quarter. Victory Capital Management Inc. now owns 684,953 shares of the company’s stock worth $10,959,000 after purchasing an additional 25,787 shares during the period. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

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.