DA Davidson Reaffirms “Buy” Rating for Palantir Technologies (NASDAQ:PLTR)

Palantir Technologies (NASDAQ:PLTR)‘s stock had its “buy” rating reiterated by analysts at DA Davidson in a research note issued to investors on Friday,Benzinga reports. They currently have a $175.00 price target on the stock. DA Davidson’s target price indicates a potential upside of 32.20% from the company’s previous close.

Several other research firms have also recently issued reports on PLTR. BNP Paribas Exane assumed coverage on Palantir Technologies in a research report on Tuesday, June 16th. They set an “underperform” rating for the company. Benchmark lowered Palantir Technologies to a “hold” rating in a research report on Tuesday, June 16th. Cantor Fitzgerald restated a “neutral” rating and set a $138.00 target price on shares of Palantir Technologies in a research note on Friday, May 22nd. DZ Bank began coverage on Palantir Technologies in a report on Thursday, April 23rd. They issued a “buy” rating and a $175.00 price target for the company. Finally, President Capital raised Palantir Technologies from a “neutral” rating to a “buy” rating and upped their price target for the company from $25.50 to $133.00 in a report on Monday, June 29th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $190.85.

Palantir Technologies Trading Down 1.5%

Shares of PLTR opened at $132.38 on Friday. Palantir Technologies has a twelve month low of $106.37 and a twelve month high of $207.52. The firm’s fifty day simple moving average is $132.20 and its 200-day simple moving average is $144.30. The firm has a market capitalization of $317.36 billion, a price-to-earnings ratio of 148.74, a PEG ratio of 2.12 and a beta of 1.56.

Palantir Technologies (NASDAQ:PLTR) last issued its earnings results on Monday, May 4th. The company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.05. The firm had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.54 billion. Palantir Technologies had a net margin of 43.67% and a return on equity of 28.34%. The company’s revenue was up 84.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.13 earnings per share. On average, analysts predict that Palantir Technologies will post 1.17 earnings per share for the current fiscal year.

Insider Activity at Palantir Technologies

In other news, insider Shyam Sankar sold 165,514 shares of Palantir Technologies stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total transaction of $22,516,524.56. Following the sale, the insider owned 642,786 shares in the company, valued at approximately $87,444,607.44. The trade was a 20.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Alexander C. Karp sold 397,744 shares of the business’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total value of $54,109,093.76. Following the completion of the sale, the insider directly owned 6,432,258 shares of the company’s stock, valued at $875,044,378.32. The trade was a 5.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 1,112,270 shares of company stock valued at $150,247,785. Corporate insiders own 9.53% of the company’s stock.

Institutional Investors Weigh In On Palantir Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PLTR. Cary Street Partners Financial LLC boosted its holdings in shares of Palantir Technologies by 49.1% in the second quarter. Cary Street Partners Financial LLC now owns 49,287 shares of the company’s stock valued at $5,750,000 after acquiring an additional 16,224 shares during the period. Rosenberg Matthew Hamilton increased its holdings in shares of Palantir Technologies by 59.8% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 935 shares of the company’s stock valued at $109,000 after acquiring an additional 350 shares during the period. Pachira Investments Inc. increased its holdings in shares of Palantir Technologies by 20.7% in the 2nd quarter. Pachira Investments Inc. now owns 9,284 shares of the company’s stock valued at $1,083,000 after acquiring an additional 1,594 shares during the period. Formidable Asset Management LLC raised its position in Palantir Technologies by 23.2% in the 2nd quarter. Formidable Asset Management LLC now owns 13,368 shares of the company’s stock valued at $1,560,000 after purchasing an additional 2,517 shares during the last quarter. Finally, LifeSteps Financial Inc. raised its position in Palantir Technologies by 6.9% in the 2nd quarter. LifeSteps Financial Inc. now owns 1,584 shares of the company’s stock valued at $185,000 after purchasing an additional 102 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

More Palantir Technologies News

Here are the key news stories impacting Palantir Technologies this week:

• Positive Sentiment: DA Davidson reaffirmed its buy rating on Palantir and set a $175 price target, implying meaningful upside from current levels. This helps reinforce the bullish case after recent volatility. Benzinga article
• Positive Sentiment: Palantir’s partnership with Nvidia on sovereign AI is drawing investor interest and is being framed as a potential long-term growth catalyst, especially as AI infrastructure spending continues. Article
• Positive Sentiment: Palantir CEO Alex Karp has been highlighting the company as one of the key beneficiaries of AI infrastructure demand, which may support the bull thesis that Palantir is becoming a major enterprise AI winner. Article

Palantir Technologies Company Profile

Palantir Technologies is a software company that develops data integration, analytics and operational decision-making platforms for government and commercial customers. Founded in 2003 by a team that included Alex Karp and Peter Thiel, Palantir has grown into a provider of enterprise-scale software designed to help organizations integrate disparate data sources, build analytic models and drive operational workflows. The company went public in 2020 and continues to position its products around large, complex data projects where security, provenance and real-time collaboration are important.

Palantir’s product portfolio centers on a small number of core platforms.