Palantir Technologies (NYSE:PLTR) Price Target Raised to $9.00

Palantir Technologies (NYSE:PLTR) had its price target raised by stock analysts at Royal Bank of Canada from $5.00 to $9.00 in a report released on Tuesday, Benzinga reports. The firm currently has an “underperform” rating on the stock. Royal Bank of Canada’s target price suggests a potential downside of 58.26% from the stock’s previous close.

PLTR has been the topic of a number of other research reports. Monness Crespi & Hardt raised Palantir Technologies from a “sell” rating to a “neutral” rating in a research report on Friday, April 26th. Mizuho increased their target price on shares of Palantir Technologies from $18.00 to $21.00 and gave the stock a “neutral” rating in a research report on Thursday, March 7th. Jefferies Financial Group raised shares of Palantir Technologies from an “underperform” rating to a “hold” rating and boosted their price target for the company from $13.00 to $22.00 in a research report on Tuesday, February 6th. HSBC downgraded shares of Palantir Technologies from a “buy” rating to a “hold” rating and set a $22.00 price objective for the company. in a report on Wednesday, February 14th. Finally, Citigroup upgraded Palantir Technologies from a “sell” rating to a “neutral” rating and increased their target price for the stock from $10.00 to $20.00 in a research report on Tuesday, February 6th. Five research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Palantir Technologies currently has a consensus rating of “Hold” and a consensus target price of $20.65.

Palantir Technologies Stock Performance

NYSE PLTR opened at $21.56 on Tuesday. The company has a market capitalization of $47.71 billion, a PE ratio of 239.58, a price-to-earnings-growth ratio of 5.72 and a beta of 2.76. Palantir Technologies has a 52-week low of $8.65 and a 52-week high of $27.50. The company has a 50-day simple moving average of $23.34 and a 200 day simple moving average of $20.35.

Palantir Technologies (NYSE:PLTR) last posted its quarterly 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 company had revenue of $608.35 million during the quarter, compared to the consensus estimate of $603.48 million. As a group, analysts forecast that Palantir Technologies will post 0.16 EPS for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In other news, insider Shyam Sankar sold 29,168 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $25.00, for a total transaction of $729,200.00. Following the completion of the transaction, the insider now owns 752,786 shares of the company’s stock, valued at $18,819,650. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 5,000 shares of Palantir Technologies stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $25.10, for a total transaction of $125,500.00. Following the completion of the sale, the director now owns 181,830 shares of the company’s stock, valued at $4,563,933. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Shyam Sankar sold 29,168 shares of the company’s stock in a transaction dated 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 transaction, the insider now 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 a total of 7,206,273 shares of company stock valued at $178,543,602 in the last 90 days. Corporate insiders own 13.96% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

Large investors have recently modified their holdings of the company. Raymond James & Associates lifted its holdings in shares of 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 acquiring 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. boosted its position in Palantir Technologies by 9.9% during the third quarter. Brown Advisory Inc. now owns 14,425 shares of the company’s stock valued at $231,000 after buying an additional 1,300 shares during the period. Mackenzie Financial Corp grew 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 buying an additional 25,852 shares during the last quarter. Finally, Brighton Jones LLC increased its holdings in shares of Palantir Technologies by 12.2% in the third 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. 45.65% of the stock is 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.