Palantir Technologies (NASDAQ:PLTR) Upgraded by Cantor Fitzgerald to “Hold” Rating

Palantir Technologies (NASDAQ:PLTR) was upgraded by investment analysts at Cantor Fitzgerald to a “hold” rating in a research note issued to investors on Thursday, Marketbeat reports. The firm presently has a $72.00 price target on the stock. Cantor Fitzgerald’s target price would indicate a potential upside of 0.32% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. DA Davidson lifted their price objective on shares of Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Raymond James lowered Palantir Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. Robert W. Baird assumed coverage on shares of Palantir Technologies in a research report on Thursday, December 12th. They set a “neutral” rating and a $70.00 price objective for the company. Bank of America increased their price objective on shares of Palantir Technologies from $55.00 to $75.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Finally, Baird R W raised shares of Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. Seven equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Palantir Technologies presently has an average rating of “Hold” and a consensus price target of $43.78.

Palantir Technologies Price Performance

Shares of NASDAQ PLTR opened at $71.77 on Thursday. The business has a 50-day moving average of $70.22 and a 200-day moving average of $46.85. The stock has a market capitalization of $163.49 billion, a price-to-earnings ratio of 358.87, a PEG ratio of 6.24 and a beta of 2.82. Palantir Technologies has a fifty-two week low of $16.03 and a fifty-two week high of $84.80.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The firm had revenue of $725.52 million during the quarter, compared to the consensus estimate of $705.11 million. During the same period last year, the company earned $0.03 earnings per share. The business’s revenue was up 30.0% compared to the same quarter last year. On average, sell-side analysts expect that Palantir Technologies will post 0.2 EPS for the current year.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, Director Alexandra W. Schiff sold 4,000 shares of the stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $71.63, for a total value of $286,520.00. Following the completion of the transaction, the director now directly owns 195,393 shares in the company, valued at approximately $13,996,000.59. This trade represents a 2.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ryan D. Taylor sold 483,987 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $74.48, for a total value of $36,047,351.76. Following the completion of the transaction, the insider now directly owns 170,273 shares of the company’s stock, valued at $12,681,933.04. This represents a 73.97 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,642,189 shares of company stock valued at $1,444,232,453. Corporate insiders own 12.93% of the company’s stock.

Institutional Investors Weigh In On Palantir Technologies

Several institutional investors and hedge funds have recently made changes to their positions in PLTR. Dimensional Fund Advisors LP lifted its position in shares of Palantir Technologies by 10.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,880,610 shares of the company’s stock worth $72,963,000 after purchasing an additional 278,544 shares during the period. Edgestream Partners L.P. bought a new stake in Palantir Technologies during the second quarter valued at $350,000. Wealth Alliance acquired a new stake in Palantir Technologies during the 2nd quarter worth about $247,000. Mercer Global Advisors Inc. ADV raised its position in shares of Palantir Technologies by 18.8% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 189,550 shares of the company’s stock worth $4,728,000 after acquiring an additional 30,030 shares in the last quarter. Finally, Amalgamated Bank raised its position in shares of Palantir Technologies by 5.0% in the 2nd quarter. Amalgamated Bank now owns 135,982 shares of the company’s stock worth $3,444,000 after acquiring an additional 6,472 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

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.