Palantir Technologies (NYSE:PLTR) Stock Price Up 7.7% – Still a Buy?

Palantir Technologies Inc. (NYSE:PLTR) shares traded up 7.7% on Friday . The stock traded as high as $63.93 and last traded at $63.76. 51,671,492 shares traded hands during trading, a decline of 11% from the average session volume of 57,918,750 shares. The stock had previously closed at $59.18.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on PLTR shares. DA Davidson increased 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. Bank of America raised their price target on shares of Palantir Technologies from $30.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Northland Securities upped their price target on shares of Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a report on Tuesday, November 5th. Jefferies Financial Group lowered Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price objective for the company. in a research note on Thursday, November 7th. Finally, Raymond James lowered Palantir Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. Six research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Palantir Technologies currently has an average rating of “Hold” and an average target price of $31.71.

Palantir Technologies Stock Up 11.1 %

The firm has a market capitalization of $147.29 billion, a P/E ratio of 328.87 and a beta of 2.70. The business’s 50-day simple moving average is $43.19 and its 200 day simple moving average is $32.01.

Palantir Technologies (NYSE:PLTR) last released its earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.09 by $0.01. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The company had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. During the same quarter last year, the firm earned $0.03 EPS. The firm’s quarterly revenue was up 30.0% compared to the same quarter last year. Sell-side analysts predict that Palantir Technologies Inc. will post 0.21 earnings per share for the current year.

Insider Activity

In other Palantir Technologies news, insider Alexander C. Karp sold 4,500,000 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $36.07, for a total transaction of $162,315,000.00. Following the transaction, the insider now owns 6,432,258 shares in the company, valued at approximately $232,011,546.06. This represents a 41.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Heather A. Planishek sold 11,373 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $32.25, for a total value of $366,779.25. Following the completion of the transaction, the insider now owns 600,633 shares in the company, valued at approximately $19,370,414.25. This trade represents a 1.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 31,562,840 shares of company stock valued at $1,435,787,316. Corporate insiders own 12.93% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. State of Alaska Department of Revenue grew its stake in Palantir Technologies by 22.9% during the third quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company’s stock valued at $13,786,000 after acquiring an additional 68,945 shares in the last quarter. Oppenheimer & Co. Inc. raised its holdings in shares of Palantir Technologies by 19.2% in the third quarter. Oppenheimer & Co. Inc. now owns 541,567 shares of the company’s stock worth $20,146,000 after buying an additional 87,062 shares during the period. Tyler Stone Wealth Management lifted its stake in shares of Palantir Technologies by 97.9% during the 3rd quarter. Tyler Stone Wealth Management now owns 202,006 shares of the company’s stock worth $7,515,000 after acquiring an additional 99,921 shares during the last quarter. Heritage Wealth Management Inc. CA purchased a new position in Palantir Technologies during the 3rd quarter valued at $1,076,000. Finally, Cyndeo Wealth Partners LLC purchased a new position in Palantir Technologies in the 3rd quarter worth about $6,339,000. Institutional investors own 45.65% of the company’s stock.

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.