Palantir Technologies (NASDAQ:PLTR) Stock Price Expected to Rise, Loop Capital Analyst Says

Palantir Technologies (NASDAQ:PLTR) had its target price hoisted by equities researchers at Loop Capital from $178.00 to $180.00 in a report issued on Tuesday, August 5th, MarketBeat.com reports. The brokerage presently has a “buy” rating on the stock. Loop Capital’s target price suggests a potential downside of 3.73% from the stock’s previous close.

Other research analysts have also issued reports about the stock. UBS Group reaffirmed a “neutral” rating and set a $165.00 price objective (up from $110.00) on shares of Palantir Technologies in a research note on Tuesday, August 5th. Deutsche Bank Aktiengesellschaft raised shares of Palantir Technologies from a “sell” rating to a “hold” rating and boosted their target price for the company from $80.00 to $160.00 in a research note on Tuesday, August 5th. Royal Bank Of Canada boosted their target price on shares of Palantir Technologies from $40.00 to $45.00 and gave the company an “underperform” rating in a research note on Tuesday, August 5th. Morgan Stanley boosted their target price on shares of Palantir Technologies from $90.00 to $98.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 6th. Finally, Citigroup boosted their target price on shares of Palantir Technologies from $110.00 to $115.00 and gave the company a “neutral” rating in a research note on Thursday, May 8th. Two equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Palantir Technologies currently has an average rating of “Hold” and a consensus target price of $136.61.

Palantir Technologies Stock Up 2.3%

NASDAQ PLTR opened at $186.97 on Tuesday. The company has a fifty day moving average of $147.73 and a two-hundred day moving average of $117.34. The firm has a market capitalization of $441.23 billion, a price-to-earnings ratio of 623.25, a PEG ratio of 10.30 and a beta of 2.60. Palantir Technologies has a 52 week low of $29.31 and a 52 week high of $190.00.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings data on Monday, August 4th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.14 by $0.02. The company had revenue of $1 billion during the quarter, compared to analyst estimates of $939.29 million. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. Palantir Technologies’s quarterly revenue was up 48.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.09 earnings per share. Equities research analysts anticipate that Palantir Technologies will post 0.31 EPS for the current year.

Insiders Place Their Bets

In other Palantir Technologies news, insider Alexander C. Karp sold 358,982 shares of the business’s stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total value of $45,371,734.98. Following the completion of the transaction, the insider directly owned 6,432,258 shares in the company, valued at approximately $812,973,088.62. The trade was a 5.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Ryan D. Taylor sold 35,480 shares of the business’s stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total transaction of $4,484,317.20. Following the completion of the transaction, the insider owned 367,691 shares of the company’s stock, valued at $46,472,465.49. This represents a 8.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,515,632 shares of company stock valued at $196,472,623 in the last three months. 12.93% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Palantir Technologies

Several hedge funds have recently modified their holdings of PLTR. Accuvest Global Advisors increased its holdings in Palantir Technologies by 0.7% in the 2nd quarter. Accuvest Global Advisors now owns 9,035 shares of the company’s stock worth $1,232,000 after buying an additional 63 shares during the period. Ignite Planners LLC boosted its position in Palantir Technologies by 0.4% in the 2nd quarter. Ignite Planners LLC now owns 15,362 shares of the company’s stock worth $2,094,000 after purchasing an additional 66 shares in the last quarter. Christensen King & Associates Investment Services Inc. lifted its position in shares of Palantir Technologies by 1.3% during the 2nd quarter. Christensen King & Associates Investment Services Inc. now owns 5,477 shares of the company’s stock valued at $747,000 after buying an additional 72 shares in the last quarter. McGlone Suttner Wealth Management Inc. lifted its position in shares of Palantir Technologies by 1.0% during the 2nd quarter. McGlone Suttner Wealth Management Inc. now owns 7,387 shares of the company’s stock valued at $1,007,000 after buying an additional 73 shares in the last quarter. Finally, Boomfish Wealth Group LLC lifted its position in shares of Palantir Technologies by 2.7% during the 2nd quarter. Boomfish Wealth Group LLC now owns 2,779 shares of the company’s stock valued at $379,000 after buying an additional 73 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

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.