Palantir Technologies (NYSE:PLTR) Stock Price Expected to Rise, DA Davidson Analyst Says

Palantir Technologies (NYSE:PLTR) had its price objective increased by research analysts at DA Davidson from $28.00 to $47.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. DA Davidson’s price objective would suggest a potential downside of 15.32% from the company’s current price. DA Davidson also issued estimates for Palantir Technologies’ Q4 2024 earnings at $0.07 EPS and FY2025 earnings at $0.29 EPS.

A number of other equities analysts also recently commented on the stock. Monness Crespi & Hardt reduced their target price on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating on the stock in a research note on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft increased their price objective on Palantir Technologies from $20.00 to $21.00 and gave the stock a “sell” rating in a research report on Tuesday, August 6th. Citigroup upped their price target on Palantir Technologies from $25.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Northland Capmk raised Palantir Technologies to a “hold” rating in a research report on Thursday, August 22nd. Finally, Jefferies Financial Group upped their target price on shares of Palantir Technologies from $24.00 to $28.00 and gave the company a “hold” rating in a research report on Monday, July 29th. Five equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $29.93.

Palantir Technologies Trading Up 8.6 %

NYSE:PLTR opened at $55.51 on Tuesday. The company has a market cap of $124.30 billion, a P/E ratio of 277.53 and a beta of 2.70. Palantir Technologies has a twelve month low of $15.66 and a twelve month high of $55.69. The company’s 50-day moving average price is $38.60 and its 200-day moving average price is $29.97.

Palantir Technologies (NYSE:PLTR) last issued its earnings results on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.01. Palantir Technologies had a return on equity of 10.41% and a net margin of 18.01%. The business had revenue of $725.52 million for the quarter, compared to analysts’ expectations of $705.11 million. During the same period in the previous year, the firm posted $0.03 EPS. The business’s revenue for the quarter was up 30.0% compared to the same quarter last year. On average, analysts expect that Palantir Technologies will post 0.19 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Alexander C. Karp sold 3,337,048 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $45.02, for a total transaction of $150,233,900.96. Following the sale, the insider now owns 6,432,258 shares of the company’s stock, valued at approximately $289,580,255.16. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Palantir Technologies news, insider Ryan D. Taylor sold 123,334 shares of the stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $45.00, for a total value of $5,550,030.00. Following the sale, the insider now owns 331,369 shares of the company’s stock, valued at $14,911,605. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Alexander C. Karp sold 3,337,048 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $45.02, for a total value of $150,233,900.96. Following the transaction, the insider now directly owns 6,432,258 shares of the company’s stock, valued at approximately $289,580,255.16. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,204,508 shares of company stock worth $802,654,666 in the last ninety days. 12.93% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in PLTR. Vanguard Group Inc. lifted its position in shares of Palantir Technologies by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 196,834,580 shares of the company’s stock worth $4,529,164,000 after purchasing an additional 3,029,317 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in Palantir Technologies by 5.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,982,925 shares of the company’s stock worth $557,365,000 after buying an additional 808,444 shares during the last quarter. ARK Investment Management LLC boosted its position in shares of Palantir Technologies by 2.2% during the 2nd quarter. ARK Investment Management LLC now owns 13,023,099 shares of the company’s stock worth $329,875,000 after acquiring an additional 277,623 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of Palantir Technologies by 1.4% in the 2nd quarter. Legal & General Group Plc now owns 11,917,200 shares of the company’s stock valued at $301,871,000 after acquiring an additional 167,030 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Palantir Technologies by 4.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 7,326,275 shares of the company’s stock worth $185,575,000 after acquiring an additional 292,885 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

About Palantir Technologies

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. The company provides Palantir Gotham, a software platform which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.