Palantir Technologies (NASDAQ:PLTR) Shares Up 1.8% Following Analyst Upgrade

Palantir Technologies Inc. (NASDAQ:PLTR)’s stock price shot up 1.8% during trading on Tuesday after Bank of America raised their price target on the stock from $180.00 to $215.00. Bank of America currently has a buy rating on the stock. Palantir Technologies traded as high as $185.75 and last traded at $182.55. 61,974,375 shares traded hands during trading, a decline of 30% from the average session volume of 88,827,344 shares. The stock had previously closed at $179.33.

A number of other equities research analysts also recently commented on the company. Royal Bank Of Canada increased their price objective on Palantir Technologies from $40.00 to $45.00 and gave the company an “underperform” rating in a research report on Tuesday, August 5th. Loop Capital increased their price objective on Palantir Technologies from $178.00 to $180.00 and gave the company a “buy” rating in a research report on Tuesday, August 5th. Mizuho set a $165.00 price objective on Palantir Technologies in a research report on Monday, September 15th. Cantor Fitzgerald boosted their target price on shares of Palantir Technologies from $110.00 to $155.00 and gave the company a “neutral” rating in a research note on Tuesday, August 5th. Finally, Wall Street Zen downgraded shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. Four analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $140.22.

Insiders Place Their Bets

In other news, insider Ryan D. Taylor sold 36,048 shares of the company’s stock in a transaction on Friday, September 5th. The shares were sold at an average price of $158.35, for a total value of $5,708,200.80. Following the transaction, the insider directly owned 307,470 shares of the company’s stock, valued at approximately $48,687,874.50. This represents a 10.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Shyam Sankar sold 375,000 shares of the company’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $151.20, for a total transaction of $56,700,000.00. Following the completion of the transaction, the insider directly owned 702,786 shares in the company, valued at $106,261,243.20. This trade represents a 34.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,634,634 shares of company stock valued at $250,524,804 in the last three months. Company insiders own 12.93% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

A number of hedge funds have recently modified their holdings of PLTR. Revolve Wealth Partners LLC acquired a new position in shares of Palantir Technologies in the fourth quarter worth $450,000. Bison Wealth LLC increased its stake in shares of Palantir Technologies by 37.4% in the fourth quarter. Bison Wealth LLC now owns 17,130 shares of the company’s stock worth $1,296,000 after acquiring an additional 4,667 shares during the last quarter. Two Sigma Investments LP increased its stake in shares of Palantir Technologies by 132.4% in the fourth quarter. Two Sigma Investments LP now owns 55,083 shares of the company’s stock worth $4,166,000 after acquiring an additional 31,383 shares during the last quarter. Mackenzie Financial Corp increased its stake in shares of Palantir Technologies by 26.8% in the fourth quarter. Mackenzie Financial Corp now owns 235,979 shares of the company’s stock worth $17,847,000 after acquiring an additional 49,881 shares during the last quarter. Finally, American Trust acquired a new position in shares of Palantir Technologies in the fourth quarter worth $258,000. 45.65% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Stock Up 1.8%

The stock has a market capitalization of $433.07 billion, a price-to-earnings ratio of 608.52, a P/E/G ratio of 10.11 and a beta of 2.59. The company’s 50-day simple moving average is $164.60 and its 200 day simple moving average is $131.56.

Palantir Technologies (NASDAQ:PLTR) last posted its earnings results on Monday, August 4th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.14 by $0.02. The firm had revenue of $1 billion for the quarter, compared to the consensus estimate of $939.29 million. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The business’s quarterly revenue was up 48.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.09 earnings per share. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, equities analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

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.