Palantir Technologies (NASDAQ:PLTR) Price Target Raised to $125.00 at Bank of America

Palantir Technologies (NASDAQ:PLTR) had its price target increased by stock analysts at Bank of America from $90.00 to $125.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Bank of America‘s price objective indicates a potential upside of 49.27% from the company’s current price.

Other equities research analysts have also recently issued reports about the stock. Morgan Stanley upgraded shares of Palantir Technologies from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $60.00 to $95.00 in a report on Tuesday. Jefferies Financial Group downgraded shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price objective on the stock. in a research note on Thursday, November 7th. William Blair reiterated an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 18th. DA Davidson increased their price objective on shares of Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Finally, Baird R W raised shares of Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Six investment analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $57.11.

Palantir Technologies Price Performance

NASDAQ PLTR opened at $83.74 on Tuesday. Palantir Technologies has a fifty-two week low of $16.48 and a fifty-two week high of $85.22. The stock’s 50-day moving average is $73.71 and its two-hundred day moving average is $51.00. The firm has a market cap of $190.76 billion, a P/E ratio of 418.72, a price-to-earnings-growth ratio of 7.54 and a beta of 2.81.

Palantir Technologies (NASDAQ:PLTR) last announced its earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The firm had revenue of $725.52 million during the quarter, compared to analysts’ expectations of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The company’s revenue was up 30.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.03 earnings per share. On average, equities analysts expect that Palantir Technologies will post 0.19 EPS for the current year.

Insider Buying and Selling

In other Palantir Technologies news, insider Alexander C. Karp sold 4,500,000 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $55.03, for a total value of $247,635,000.00. Following the completion of the sale, the insider now directly owns 6,432,258 shares in the company, valued at $353,967,157.74. This represents a 41.16 % 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 9,746 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $66.77, for a total value of $650,740.42. Following the transaction, the director now owns 111,644 shares of the company’s stock, valued at approximately $7,454,469.88. This trade represents a 8.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,153,753 shares of company stock valued at $1,287,042,675 in the last 90 days. 12.93% of the stock is owned by insiders.

Institutional Trading of Palantir Technologies

A number of large investors have recently added to or reduced their stakes in the company. Tritonpoint Wealth LLC grew its holdings in Palantir Technologies by 1.9% during the 4th quarter. Tritonpoint Wealth LLC now owns 7,100 shares of the company’s stock worth $537,000 after acquiring an additional 132 shares during the period. Kennebec Savings Bank raised its stake in Palantir Technologies by 29.5% during the 4th quarter. Kennebec Savings Bank now owns 698 shares of the company’s stock worth $53,000 after buying an additional 159 shares during the period. HighMark Wealth Management LLC boosted its holdings in Palantir Technologies by 73.5% in the fourth quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock worth $30,000 after acquiring an additional 166 shares in the last quarter. RMR Wealth Builders grew its stake in Palantir Technologies by 2.4% in the fourth quarter. RMR Wealth Builders now owns 7,201 shares of the company’s stock valued at $545,000 after acquiring an additional 167 shares during the period. Finally, Bay Rivers Group increased its holdings in shares of Palantir Technologies by 2.7% during the fourth quarter. Bay Rivers Group now owns 6,406 shares of the company’s stock valued at $484,000 after acquiring an additional 171 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.