Cantor Fitzgerald Increases Palantir Technologies (NASDAQ:PLTR) Price Target to $110.00

Palantir Technologies (NASDAQ:PLTR) had its price target hoisted by investment analysts at Cantor Fitzgerald from $98.00 to $110.00 in a report released on Tuesday, MarketBeat.com reports. The firm presently has a “neutral” rating on the stock. Cantor Fitzgerald’s target price would suggest a potential downside of 0.39% from the company’s current price.

A number of other brokerages have also recently issued reports on PLTR. Wedbush reissued an “outperform” rating and set a $120.00 price target on shares of Palantir Technologies in a research report on Monday, March 3rd. Loop Capital reiterated a “buy” rating on shares of Palantir Technologies in a report on Friday, April 4th. Mizuho upped their price target on Palantir Technologies from $44.00 to $80.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 4th. Citigroup lifted their price objective on Palantir Technologies from $42.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. Finally, Royal Bank of Canada reissued an “underperform” rating and issued a $40.00 target price on shares of Palantir Technologies in a research note on Tuesday, April 29th. Five analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $83.70.

Palantir Technologies Trading Up 1.4 %

PLTR stock opened at $110.43 on Tuesday. The firm’s 50-day moving average price is $92.85 and its two-hundred day moving average price is $80.95. The stock has a market capitalization of $259.00 billion, a price-to-earnings ratio of 581.24, a PEG ratio of 10.84 and a beta of 2.68. Palantir Technologies has a 12-month low of $20.50 and a 12-month high of $125.41.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings results on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, hitting the consensus estimate of $0.13. The company had revenue of $883.86 million for the quarter, compared to analysts’ expectations of $863.89 million. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. The firm’s revenue for the quarter was up 39.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.08 earnings per share. Equities analysts predict that Palantir Technologies will post 0.31 EPS for the current year.

Insider Transactions at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 800 shares of the business’s stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $81.25, for a total transaction of $65,000.00. Following the completion of the sale, the director now directly owns 61,339 shares in the company, valued at approximately $4,983,793.75. The trade was a 1.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $82.75, for a total transaction of $103,437,500.00. Following the completion of the transaction, the insider now owns 592 shares in the company, valued at $48,988. The trade was a 99.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,978,181 shares of company stock worth $252,115,667 in the last ninety days. Insiders own 12.93% of the company’s stock.

Institutional Trading of Palantir Technologies

Several hedge funds have recently bought and sold shares of the stock. Mather Group LLC. increased its holdings in Palantir Technologies by 101.4% in the 4th quarter. Mather Group LLC. now owns 890 shares of the company’s stock worth $67,000 after acquiring an additional 448 shares in the last quarter. Diversify Wealth Management LLC bought a new position in shares of Palantir Technologies in the fourth quarter worth approximately $876,000. Destiny Wealth Partners LLC purchased a new stake in shares of Palantir Technologies in the fourth quarter worth $3,233,000. Kieckhefer Group LLC bought a new stake in shares of Palantir Technologies during the 4th quarter valued at $11,769,000. Finally, Grange Capital LLC purchased a new position in shares of Palantir Technologies during the 4th quarter valued at $5,829,000. Institutional investors own 45.65% of the company’s stock.

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.