UBS Group Issues Positive Forecast for Palantir Technologies (NASDAQ:PLTR) Stock Price

Palantir Technologies (NASDAQ:PLTR) had its price objective upped by equities researchers at UBS Group from $80.00 to $105.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. UBS Group’s price objective indicates a potential upside of 2.91% from the company’s current price.

A number of other equities research analysts have also recently commented on PLTR. Cantor Fitzgerald increased their price objective on shares of Palantir Technologies from $72.00 to $98.00 and gave the company a “neutral” rating in a research note on Tuesday. Wedbush upped their target price on shares of Palantir Technologies from $75.00 to $90.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Bank of America upped their target price on shares of Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday. Baird R W upgraded shares of Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. Finally, William Blair reiterated an “underperform” rating on shares of Palantir Technologies in a report on Wednesday, December 18th. Six equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Palantir Technologies currently has a consensus rating of “Hold” and an average price target of $63.17.

Palantir Technologies Trading Up 21.8 %

Shares of NASDAQ:PLTR traded up $18.29 on Tuesday, reaching $102.03. 165,981,674 shares of the company were exchanged, compared to its average volume of 75,279,117. Palantir Technologies has a 1-year low of $16.48 and a 1-year high of $106.91. The firm has a market cap of $232.42 billion, a price-to-earnings ratio of 505.78, a price-to-earnings-growth ratio of 7.54 and a beta of 2.81. The company has a 50-day moving average of $74.09 and a 200-day moving average of $51.39.

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

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Alexander C. Karp sold 4,500,000 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were 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 owns 6,432,258 shares of the company’s stock, valued at $353,967,157.74. This trade 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 Alexandra W. Schiff sold 4,000 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total transaction of $286,520.00. Following the completion of the sale, the director now directly owns 195,393 shares of the company’s stock, valued at $13,996,000.59. This trade represents a 2.01 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,153,753 shares of company stock worth $1,287,042,675. Company insiders own 12.93% of the company’s stock.

Institutional Trading of Palantir Technologies

Hedge funds have recently made changes to their positions in the stock. Roxbury Financial LLC acquired a new stake in shares of Palantir Technologies during the fourth quarter worth approximately $27,000. First PREMIER Bank acquired a new position in Palantir Technologies in the fourth quarter worth $28,000. Wolff Wiese Magana LLC boosted its holdings in Palantir Technologies by 230.4% in the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock worth $29,000 after purchasing an additional 265 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 purchasing an additional 166 shares during the period. Finally, Sierra Ocean LLC acquired a new position in Palantir Technologies in the fourth quarter worth $31,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

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.