DA Davidson Raises Palantir Technologies (NYSE:PLTR) Price Target to $24.00

Palantir Technologies (NYSE:PLTR) had its price target raised by research analysts at DA Davidson from $19.00 to $24.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. DA Davidson’s price target suggests a potential upside of 11.52% from the stock’s previous close.

PLTR has been the subject of several other reports. Jefferies Financial Group raised Palantir Technologies from an “underperform” rating to a “hold” rating and raised their target price for the stock from $13.00 to $22.00 in a research report on Tuesday, February 6th. Wedbush reiterated an “outperform” rating and issued a $35.00 price target on shares of Palantir Technologies in a research note on Monday. HSBC downgraded Palantir Technologies from a “buy” rating to a “hold” rating and set a $22.00 price target on the stock. in a research report on Wednesday, February 14th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Palantir Technologies from $18.00 to $20.00 and gave the stock a “sell” rating in a research note on Tuesday. Finally, Citigroup upgraded shares of Palantir Technologies from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $10.00 to $20.00 in a report on Tuesday, February 6th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $19.88.

Palantir Technologies Price Performance

NYSE:PLTR traded down $3.69 during trading hours on Tuesday, reaching $21.52. 83,920,311 shares of the company traded hands, compared to its average volume of 62,683,484. The firm’s 50-day moving average is $23.36 and its 200-day moving average is $20.25. Palantir Technologies has a 1-year low of $7.59 and a 1-year high of $27.50. The stock has a market cap of $47.62 billion, a P/E ratio of 237.47, a P/E/G ratio of 5.72 and a beta of 2.76.

Palantir Technologies (NYSE:PLTR) last issued its quarterly earnings results on Monday, February 5th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The company had revenue of $608.35 million during the quarter, compared to analyst estimates of $603.48 million. Palantir Technologies had a return on equity of 6.17% and a net margin of 9.43%. As a group, research analysts predict that Palantir Technologies will post 0.16 earnings per share for the current year.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $25.10, for a total value of $125,500.00. Following the completion of the transaction, the director now owns 181,830 shares of the company’s stock, valued at approximately $4,563,933. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Peter Thiel sold 7,044,756 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $24.79, for a total transaction of $174,639,501.24. Following the completion of the sale, the director now directly owns 70,806,432 shares of the company’s stock, valued at approximately $1,755,291,449.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 5,000 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $25.10, for a total value of $125,500.00. Following the completion of the sale, the director now directly owns 181,830 shares in the company, valued at $4,563,933. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,356,273 shares of company stock valued at $182,143,602. Corporate insiders own 13.96% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Pursue Wealth Partners LLC bought a new stake in shares of Palantir Technologies in the 4th quarter valued at about $1,741,000. Qsemble Capital Management LP purchased a new position in shares of Palantir Technologies during the third quarter valued at about $1,178,000. Trexquant Investment LP purchased a new stake in shares of Palantir Technologies during the 3rd quarter valued at about $4,446,000. Victory Capital Management Inc. lifted its holdings in shares of Palantir Technologies by 3.9% in the 3rd quarter. Victory Capital Management Inc. now owns 684,953 shares of the company’s stock worth $10,959,000 after acquiring an additional 25,787 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its holdings in shares of Palantir Technologies by 10.8% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 1,196,790 shares of the company’s stock worth $20,549,000 after purchasing an additional 116,220 shares during the last quarter. 45.65% of the stock is owned by 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.