Palantir Technologies (NASDAQ:PLTR) Trading Up 1.6% Following Analyst Upgrade

Shares of Palantir Technologies Inc. (NASDAQ:PLTR) were up 1.6% on Friday after Daiwa Capital Markets raised their price target on the stock from $178.00 to $200.00. Daiwa Capital Markets currently has a neutral rating on the stock. Palantir Technologies traded as high as $178.70 and last traded at $177.93. Approximately 73,294,584 shares were traded during trading, a decline of 12% from the average daily volume of 83,365,719 shares. The stock had previously closed at $175.05.

Other equities analysts have also issued research reports about the stock. Northland Securities lifted their price target on shares of Palantir Technologies from $14.00 to $18.50 in a report on Tuesday. Cantor Fitzgerald increased their target price on shares of Palantir Technologies from $155.00 to $198.00 and gave the stock a “neutral” rating in a research report on Tuesday. Weiss Ratings reiterated a “buy (b-)” rating on shares of Palantir Technologies in a research note on Wednesday. Bank of America raised their target price on shares of Palantir Technologies from $215.00 to $255.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Palantir Technologies from $160.00 to $200.00 and gave the company a “hold” rating in a report on Tuesday. Five investment analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $173.45.

Insider Buying and Selling at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 800 shares of the business’s stock in a transaction dated Friday, October 3rd. The stock was sold at an average price of $186.39, for a total value of $149,112.00. Following the transaction, the director owned 62,087 shares in the company, valued at approximately $11,572,395.93. The trade was a 1.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Ryan D. Taylor sold 36,048 shares of the firm’s stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $158.35, for a total value of $5,708,200.80. Following the sale, the insider owned 307,470 shares of the company’s stock, valued at approximately $48,687,874.50. This trade represents a 10.49% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 1,527,750 shares of company stock valued at $234,463,896. Company insiders own 9.23% of the company’s stock.

Institutional Investors Weigh In On Palantir Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank bought a new position in Palantir Technologies during the 2nd quarter worth approximately $3,307,457,000. Kingstone Capital Partners Texas LLC bought a new position in Palantir Technologies in the second quarter worth about $2,543,888,000. Vanguard Group Inc. raised its position in shares of Palantir Technologies by 4.0% during the 3rd quarter. Vanguard Group Inc. now owns 213,886,270 shares of the company’s stock worth $39,017,133,000 after purchasing an additional 8,168,604 shares during the period. Nuveen LLC acquired a new position in Palantir Technologies during the 1st quarter valued at approximately $520,232,000. Finally, State Street Corp increased its position in Palantir Technologies by 6.9% in the second quarter. State Street Corp now owns 94,481,128 shares of the company’s stock worth $12,879,667,000 after buying an additional 6,097,629 shares during the period. Institutional investors own 45.65% of the company’s stock.

Palantir Technologies Price Performance

The firm’s fifty day moving average price is $177.31 and its 200-day moving average price is $153.08. The company has a market cap of $422.11 billion, a price-to-earnings ratio of 423.65, a P/E/G ratio of 7.67 and a beta of 2.63.

Palantir Technologies (NASDAQ:PLTR) last posted its earnings results on Monday, November 3rd. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.04. Palantir Technologies had a net margin of 28.11% and a return on equity of 15.48%. The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same period in the previous year, the business posted $0.10 EPS. Palantir Technologies’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 analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

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.