Palantir Technologies (NASDAQ:PLTR) Stock Price Up 1.6% Following Analyst Upgrade

Shares of Palantir Technologies Inc. (NASDAQ:PLTR) traded up 1.6% on Friday after Wall Street Zen upgraded the stock from a hold rating to a buy rating. The stock traded as high as $178.70 and last traded at $177.93. 73,294,584 shares were traded during mid-day trading, a decline of 12% from the average session volume of 83,365,719 shares. The stock had previously closed at $175.05.

PLTR has been the subject of a number of other research reports. UBS Group boosted their target price on Palantir Technologies from $165.00 to $205.00 and gave the stock a “neutral” rating in a research report on Tuesday. Jefferies Financial Group reissued an “underperform” rating on shares of Palantir Technologies in a report on Tuesday. Loop Capital raised their target price on shares of Palantir Technologies from $178.00 to $180.00 and gave the stock a “buy” rating in a report on Tuesday, August 5th. Daiwa Capital Markets boosted their target price on shares of Palantir Technologies from $178.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, Citigroup increased their price target on Palantir Technologies from $190.00 to $210.00 and gave the company a “neutral” rating in a report on Wednesday. Five equities research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $173.45.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 191,720 shares of the business’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $151.37, for a total transaction of $29,020,656.40. Following the completion of the sale, the insider owned 592 shares of the company’s stock, valued at approximately $89,611.04. The trade was a 99.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider David A. Glazer sold 81,000 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $154.47, for a total value of $12,512,070.00. Following the completion of the transaction, the insider directly owned 431,169 shares in the company, valued at $66,602,675.43. This trade represents a 15.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 1,527,750 shares of company stock worth $234,463,896. Insiders own 9.23% of the company’s stock.

Institutional Investors Weigh In On Palantir Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Truist Financial Corp increased its stake in Palantir Technologies by 4.2% in the 2nd quarter. Truist Financial Corp now owns 537,000 shares of the company’s stock valued at $73,204,000 after purchasing an additional 21,809 shares in the last quarter. State of Michigan Retirement System boosted its position in Palantir Technologies by 1.3% during the second quarter. State of Michigan Retirement System now owns 938,400 shares of the company’s stock worth $127,923,000 after purchasing an additional 12,300 shares in the last quarter. Presilium Private Wealth LLC acquired a new stake in Palantir Technologies in the second quarter valued at $204,000. New Century Financial Group LLC purchased a new position in shares of Palantir Technologies in the second quarter valued at $228,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Palantir Technologies by 10.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 11,668,082 shares of the company’s stock worth $984,786,000 after buying an additional 1,135,841 shares during the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Stock Performance

The firm has a market capitalization of $422.11 billion, a PE ratio of 423.65, a price-to-earnings-growth ratio of 6.78 and a beta of 2.63. The firm’s 50-day moving average is $177.73 and its 200 day moving average is $153.68.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings results on Monday, November 3rd. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.04. Palantir Technologies had a net margin of 28.11% and a return on equity of 15.48%. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the prior year, the firm earned $0.10 earnings per share. The company’s revenue for the quarter was up 62.8% compared to the same quarter last year. Palantir Technologies has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. As a group, equities analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current 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.