Palantir Technologies (NYSE:PLTR) Price Target Raised to $75.00 at Wedbush

Palantir Technologies (NYSE:PLTR) had its target price lifted by Wedbush from $57.00 to $75.00 in a research report sent to investors on Monday morning,Benzinga reports. Wedbush currently has an outperform rating on the stock.

Several other research analysts have also issued reports on PLTR. Mizuho raised their target price on Palantir Technologies from $30.00 to $37.00 and gave the stock an “underperform” rating in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft upped their target price on Palantir Technologies from $20.00 to $21.00 and gave the company a “sell” rating in a report on Tuesday, August 6th. DA Davidson raised their price target on shares of Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Raymond James lowered shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. Finally, Bank of America boosted their target price on shares of Palantir Technologies from $55.00 to $75.00 and gave the company a “buy” rating in a report on Monday. Six analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Palantir Technologies currently has a consensus rating of “Hold” and an average price target of $35.64.

Palantir Technologies Stock Performance

Shares of PLTR opened at $66.05 on Monday. The stock has a market capitalization of $150.46 billion, a price-to-earnings ratio of 330.25 and a beta of 2.70. Palantir Technologies has a 52 week low of $15.66 and a 52 week high of $67.88. The stock has a fifty day moving average of $47.68 and a 200-day moving average of $34.33.

Palantir Technologies (NYSE:PLTR) last released its quarterly 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. The company had revenue of $725.52 million for 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%. During the same period in the previous year, the business posted $0.03 earnings per share. The business’s quarterly revenue was up 30.0% compared to the same quarter last year. As a group, equities analysts forecast that Palantir Technologies will post 0.21 EPS for the current year.

Insiders Place Their Bets

In other Palantir Technologies news, Director Alexander D. Moore sold 20,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $30.89, for a total value of $617,800.00. Following the completion of the sale, the director now directly owns 1,510,630 shares of the company’s stock, valued at $46,663,360.70. This trade represents a 1.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 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 transaction of $650,740.42. Following the transaction, the director now owns 111,644 shares of the company’s stock, valued at $7,454,469.88. This represents a 8.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,163,181 shares of company stock valued at $1,603,288,758 in the last 90 days. 12.93% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. State Street Corp boosted its position in shares of Palantir Technologies by 96.4% during the 3rd quarter. State Street Corp now owns 82,512,440 shares of the company’s stock valued at $3,069,463,000 after acquiring an additional 40,498,024 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Palantir Technologies by 52.9% in the 3rd quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock worth $1,777,568,000 after buying an additional 16,598,253 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of Palantir Technologies by 3,476.2% in the 3rd quarter. International Assets Investment Management LLC now owns 6,832,301 shares of the company’s stock worth $254,162,000 after buying an additional 6,641,253 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Palantir Technologies by 60.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock valued at $460,798,000 after buying an additional 4,667,955 shares in the last quarter. Finally, Marshall Wace LLP lifted its holdings in shares of Palantir Technologies by 594.3% during the 2nd quarter. Marshall Wace LLP now owns 3,550,176 shares of the company’s stock worth $89,926,000 after acquiring an additional 3,038,861 shares during the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Palantir Technologies Company Profile

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.