Citigroup Forecasts Strong Price Appreciation for Palantir Technologies (NASDAQ:PLTR) Stock

Palantir Technologies (NASDAQ:PLTR) had its price target raised by equities researchers at Citigroup from $190.00 to $210.00 in a note issued to investors on Wednesday,MarketScreener reports. The firm currently has a “neutral” rating on the stock. Citigroup’s price target indicates a potential upside of 19.97% from the stock’s previous close.

PLTR has been the subject of a number of other reports. Wall Street Zen downgraded Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. Morgan Stanley boosted their price objective on Palantir Technologies from $155.00 to $205.00 and gave the company an “equal weight” rating in a research report on Tuesday. Raymond James Financial restated a “market perform” rating on shares of Palantir Technologies in a research note on Tuesday. Mizuho raised their target price on Palantir Technologies from $165.00 to $205.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, Royal Bank Of Canada boosted their price target on shares of Palantir Technologies from $45.00 to $50.00 and gave the company an “underperform” rating in a report on Tuesday. Five equities research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Palantir Technologies has a consensus rating of “Hold” and a consensus price target of $167.66.

Palantir Technologies Price Performance

Shares of PLTR opened at $175.05 on Wednesday. The stock has a market capitalization of $415.28 billion, a PE ratio of 416.80, a price-to-earnings-growth ratio of 7.67 and a beta of 2.63. The business’s fifty day moving average price is $177.31 and its 200 day moving average price is $153.08. Palantir Technologies has a 12-month low of $53.55 and a 12-month high of $207.52.

Palantir Technologies (NASDAQ:PLTR) last issued its earnings results on Monday, November 3rd. The company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.04. Palantir Technologies had a net margin of 28.11% and a return on equity of 15.48%. The company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same period in the prior year, the company earned $0.10 earnings per share. The firm’s revenue was up 62.8% compared to the same quarter last year. Palantir Technologies has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. As a group, research analysts anticipate that Palantir Technologies will post 0.31 earnings per share for the current fiscal year.

Insider Transactions at Palantir Technologies

In other news, insider Alexander C. Karp sold 222,878 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $151.37, for a total value of $33,737,042.86. Following the completion of the transaction, the insider directly owned 6,432,258 shares in the company, valued at $973,650,893.46. This trade represents a 3.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Stephen Andrew Cohen sold 191,720 shares of the business’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $151.37, for a total value of $29,020,656.40. Following the sale, the insider directly owned 592 shares in the company, valued at approximately $89,611.04. The trade was a 99.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,527,750 shares of company stock worth $234,463,896 over the last ninety days. Insiders own 9.23% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

Several hedge funds have recently modified their holdings of PLTR. Truist Financial Corp lifted its position in shares of Palantir Technologies by 4.2% during the 2nd quarter. Truist Financial Corp now owns 537,000 shares of the company’s stock worth $73,204,000 after buying an additional 21,809 shares during the period. State of Michigan Retirement System raised its stake in Palantir Technologies by 1.3% during the second quarter. State of Michigan Retirement System now owns 938,400 shares of the company’s stock worth $127,923,000 after acquiring an additional 12,300 shares in the last quarter. Presilium Private Wealth LLC bought a new position in shares of Palantir Technologies during the second quarter valued at $204,000. New Century Financial Group LLC acquired a new stake in shares of Palantir Technologies in the 2nd quarter valued at $228,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Palantir Technologies by 10.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 11,668,082 shares of the company’s stock worth $984,786,000 after purchasing an additional 1,135,841 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

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.