Royal Bank Of Canada Issues Positive Forecast for Palantir Technologies (NASDAQ:PLTR) Stock Price

Palantir Technologies (NASDAQ:PLTR) had its price target upped by Royal Bank Of Canada from $45.00 to $50.00 in a research note issued to investors on Tuesday morning,Benzinga reports. Royal Bank Of Canada currently has an underperform rating on the stock.

Several other research firms have also recently issued reports on PLTR. Morgan Stanley increased their price objective on Palantir Technologies from $155.00 to $205.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Wall Street Zen downgraded shares of Palantir Technologies from a “buy” rating to a “hold” rating in a report on Saturday, August 30th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Palantir Technologies from $160.00 to $200.00 and gave the stock a “hold” rating in a report on Tuesday. Bank of America increased their target price on shares of Palantir Technologies from $215.00 to $255.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Jefferies Financial Group reissued an “underperform” rating on shares of Palantir Technologies in a research note on Tuesday. Five analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $168.33.

Palantir Technologies Stock Down 7.9%

Shares of Palantir Technologies stock opened at $190.74 on Tuesday. The firm has a market cap of $452.50 billion, a price-to-earnings ratio of 454.15, a price-to-earnings-growth ratio of 11.23 and a beta of 2.63. Palantir Technologies has a 52-week low of $46.86 and a 52-week high of $207.52. The company’s 50-day simple moving average is $176.35 and its 200-day simple moving average is $152.68.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings data on Monday, November 3rd. The company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.04. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.09 billion. Palantir Technologies had a return on equity of 16.27% and a net margin of 28.11%.The firm’s revenue for the quarter was up 62.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.10 EPS. Palantir Technologies has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. Equities research analysts anticipate that Palantir Technologies will post 0.31 EPS for the current year.

Insider Transactions at Palantir Technologies

In other news, insider Ryan D. Taylor sold 36,048 shares of the company’s stock in a transaction on Friday, September 5th. The stock was sold at an average price of $158.35, for a total value of $5,708,200.80. Following the sale, the insider directly owned 307,470 shares in the company, valued at $48,687,874.50. This represents a 10.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction dated Friday, October 3rd. The stock was sold at an average price of $186.39, for a total value of $149,112.00. Following the sale, the director owned 62,087 shares of the company’s stock, valued at approximately $11,572,395.93. This represents a 1.27% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 1,527,750 shares of company stock worth $234,463,896 in the last quarter. Insiders own 12.93% of the company’s stock.

Institutional Investors Weigh In On Palantir Technologies

Several hedge funds have recently modified their holdings of the company. Financial Consulate Inc. acquired a new stake in Palantir Technologies during the third quarter worth approximately $30,000. Retirement Wealth Solutions LLC purchased a new position in shares of Palantir Technologies during the 3rd quarter worth $31,000. Flagship Wealth Advisors LLC acquired a new stake in shares of Palantir Technologies during the third quarter worth $32,000. Signature Resources Capital Management LLC purchased a new stake in shares of Palantir Technologies in the second quarter valued at $25,000. Finally, Marquette Asset Management LLC acquired a new position in Palantir Technologies in the third quarter valued at $34,000. 45.65% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Company Profile

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.