Palantir Technologies (NASDAQ:PLTR) Given New $177.00 Price Target at Citigroup

Palantir Technologies (NASDAQ:PLTR) had its price target raised by Citigroup from $158.00 to $177.00 in a research report sent to investors on Tuesday morning,Benzinga reports. Citigroup currently has a neutral rating on the stock.

Several other equities analysts have also commented on PLTR. Wedbush raised their target price on shares of Palantir Technologies from $160.00 to $200.00 and gave the company an “outperform” rating in a report on Tuesday. Bank of America lifted their price objective on shares of Palantir Technologies from $150.00 to $180.00 and gave the company a “buy” rating in a research note on Tuesday. The Goldman Sachs Group upped their target price on Palantir Technologies from $80.00 to $90.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 6th. Royal Bank Of Canada raised their target price on Palantir Technologies from $40.00 to $45.00 and gave the company an “underperform” rating in a report on Tuesday. Finally, Piper Sandler reiterated an “overweight” rating and issued a $170.00 price target on shares of Palantir Technologies in a research note on Monday. Three analysts have rated the stock with a sell rating, seventeen have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Palantir Technologies presently has a consensus rating of “Hold” and an average price target of $122.20.

Palantir Technologies Price Performance

Shares of NASDAQ:PLTR opened at $173.27 on Tuesday. The business’s 50 day simple moving average is $142.12 and its 200 day simple moving average is $113.60. Palantir Technologies has a 1 year low of $25.57 and a 1 year high of $176.33. The company has a market capitalization of $408.90 billion, a P/E ratio of 577.59, a P/E/G ratio of 13.70 and a beta of 2.60.

Palantir Technologies (NASDAQ:PLTR) last released its earnings results on Monday, August 4th. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.02. Palantir Technologies had a return on equity of 11.26% and a net margin of 22.18%. The firm had revenue of $1 billion during the quarter, compared to the consensus estimate of $939.29 million. During the same period in the prior year, the company posted $0.09 EPS. The company’s revenue was up 48.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Palantir Technologies will post 0.31 EPS for the current fiscal year.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 309,696 shares of the company’s stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total value of $39,142,477.44. Following the sale, the insider owned 592 shares in the company, valued at approximately $74,822.88. The trade was a 99.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider David A. Glazer sold 30,812 shares of the firm’s stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total value of $3,894,328.68. Following the transaction, the insider owned 495,497 shares of the company’s stock, valued at $62,625,865.83. This trade represents a 5.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,485,632 shares of company stock valued at $191,222,623 in the last quarter. Insiders own 12.93% of the company’s stock.

Institutional Trading of Palantir Technologies

Institutional investors have recently added to or reduced their stakes in the stock. Signature Resources Capital Management LLC bought a new stake in Palantir Technologies during the second quarter valued at $25,000. Briaud Financial Planning Inc bought a new position in shares of Palantir Technologies in the 2nd quarter worth about $27,000. Frazier Financial Advisors LLC acquired a new position in shares of Palantir Technologies in the 2nd quarter valued at about $28,000. Family Legacy Financial Solutions LLC bought a new stake in shares of Palantir Technologies during the 2nd quarter valued at about $31,000. Finally, Tradewinds Capital Management LLC grew its stake in Palantir Technologies by 147.4% during the second quarter. Tradewinds Capital Management LLC now owns 235 shares of the company’s stock worth $32,000 after purchasing an additional 140 shares during the period. 45.65% of the stock is currently owned by institutional investors.

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.