Bank of America Issues Positive Forecast for Palantir Technologies (NASDAQ:PLTR) Stock Price

Palantir Technologies (NASDAQ:PLTR) had its target price upped by equities research analysts at Bank of America from $215.00 to $255.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Bank of America‘s price target would suggest a potential upside of 23.08% from the stock’s previous close.

A number of other equities analysts have also commented on PLTR. Morgan Stanley set a $155.00 price target on Palantir Technologies and gave the company an “equal weight” rating in a research note on Tuesday, August 5th. UBS Group reissued a “neutral” rating and set a $205.00 price target on shares of Palantir Technologies in a research note on Tuesday. Deutsche Bank Aktiengesellschaft raised Palantir Technologies from a “sell” rating to a “hold” rating and increased their price target for the company from $80.00 to $160.00 in a research note on Tuesday, August 5th. Wedbush set a $200.00 price objective on Palantir Technologies and gave the company an “outperform” rating in a research note on Tuesday, August 5th. Finally, Piper Sandler raised their price objective on Palantir Technologies from $201.00 to $225.00 and gave the company an “overweight” rating in a research note on Tuesday. Five research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Palantir Technologies presently has an average rating of “Hold” and a consensus price target of $150.00.

Palantir Technologies Trading Up 3.3%

Shares of Palantir Technologies stock opened at $207.18 on Tuesday. The stock has a 50 day moving average of $175.75 and a 200 day moving average of $151.99. Palantir Technologies has a 12 month low of $41.03 and a 12 month high of $207.52. The firm has a market cap of $491.50 billion, a PE ratio of 690.62, a PEG ratio of 10.87 and a beta of 2.63.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings results on Monday, November 3rd. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.04. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%.The company had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same period in the prior year, the company earned $0.10 earnings per share. The firm’s revenue was up 62.8% on a year-over-year basis. Palantir Technologies has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. As a group, equities research analysts forecast that Palantir Technologies will post 0.31 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Lauren Elaina Friedman Stat sold 800 shares of the firm’s stock in a transaction that occurred on Friday, October 3rd. The stock was sold at an average price of $186.39, for a total transaction of $149,112.00. Following the completion of the sale, the director directly owned 62,087 shares of the company’s stock, valued at approximately $11,572,395.93. This trade represents a 1.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ryan D. Taylor sold 36,048 shares of the firm’s stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $158.35, for a total value of $5,708,200.80. Following the sale, the insider directly owned 307,470 shares of the company’s stock, valued at $48,687,874.50. This represents a 10.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 1,527,750 shares of company stock worth $234,463,896 in the last three months. Corporate insiders own 12.93% of the company’s stock.

Institutional Investors Weigh In On Palantir Technologies

Institutional investors and hedge funds have recently bought and sold shares of the company. Truist Financial Corp increased its holdings in shares of Palantir Technologies by 4.2% in the 2nd quarter. Truist Financial Corp now owns 537,000 shares of the company’s stock valued at $73,204,000 after acquiring an additional 21,809 shares during the period. State of Michigan Retirement System raised its position in shares of Palantir Technologies by 1.3% in the 2nd quarter. State of Michigan Retirement System now owns 938,400 shares of the company’s stock worth $127,923,000 after acquiring an additional 12,300 shares in the last quarter. Presilium Private Wealth LLC bought a new position in shares of Palantir Technologies in the 2nd quarter worth $204,000. New Century Financial Group LLC bought a new position in shares of Palantir Technologies in the 2nd quarter worth $228,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Palantir Technologies by 10.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 11,668,082 shares of the company’s stock worth $984,786,000 after acquiring an additional 1,135,841 shares in the last quarter. 45.65% of the stock is owned by institutional investors.

Palantir Technologies Company Profile

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.