Robert W. Baird Forecasts Strong Price Appreciation for Palantir Technologies (NASDAQ:PLTR) Stock

Palantir Technologies (NASDAQ:PLTR) had its target price boosted by Robert W. Baird from $70.00 to $100.00 in a research report released on Tuesday morning,Benzinga reports. Robert W. Baird currently has a neutral rating on the stock.

PLTR has been the subject of a number of other research reports. Mizuho lifted their price objective on Palantir Technologies from $37.00 to $44.00 and gave the company an “underperform” rating in a research report on Friday, December 13th. Wedbush boosted their price target on Palantir Technologies from $75.00 to $90.00 and gave the stock an “outperform” rating in a research report on Thursday, January 23rd. Baird R W raised Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. The Goldman Sachs Group boosted their price target on Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Finally, Bank of America boosted their price target on Palantir Technologies from $55.00 to $75.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Six research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $69.44.

Palantir Technologies Trading Up 9.8 %

PLTR opened at $111.28 on Tuesday. The stock has a market cap of $253.50 billion, a price-to-earnings ratio of 556.43, a PEG ratio of 7.54 and a beta of 2.81. Palantir Technologies has a 1 year low of $20.33 and a 1 year high of $111.55. The stock has a fifty day moving average price of $75.56 and a 200 day moving average price of $52.26.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating 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 business’s revenue for the quarter was up 30.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.03 earnings per share. As a group, sell-side analysts forecast that Palantir Technologies will post 0.19 earnings per share for the current fiscal year.

Insider Activity

In other Palantir Technologies news, insider Shyam Sankar sold 5,250,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $70.08, for a total transaction of $367,920,000.00. Following the completion of the transaction, the insider now directly owns 752,786 shares in the company, valued at $52,755,242.88. The trade was a 87.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Stephen Andrew Cohen sold 450,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $70.95, for a total transaction of $31,927,500.00. Following the transaction, the insider now owns 592 shares of the company’s stock, valued at approximately $42,002.40. This represents a 99.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,656,687 shares of company stock worth $1,040,105,687. Corporate insiders own 12.93% of the company’s stock.

Institutional Trading of Palantir Technologies

Institutional investors have recently modified their holdings of the business. Roxbury Financial LLC bought a new stake in Palantir Technologies during the fourth quarter valued at $27,000. First PREMIER Bank bought a new stake in Palantir Technologies during the fourth quarter valued at $28,000. Wolff Wiese Magana LLC boosted its position in Palantir Technologies by 230.4% during the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock valued at $29,000 after acquiring an additional 265 shares during the last quarter. HighMark Wealth Management LLC boosted its position in Palantir Technologies by 73.5% during the fourth quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock valued at $30,000 after acquiring an additional 166 shares during the last quarter. Finally, Sierra Ocean LLC bought a new stake in Palantir Technologies during the fourth quarter valued at $31,000. Institutional investors 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.