Palantir Technologies (NASDAQ:PLTR) Trading 1.4% Higher – Here’s Why

Palantir Technologies Inc. (NASDAQ:PLTR) shares were up 1.4% on Wednesday . The stock traded as high as $168.34 and last traded at $165.77. Approximately 34,298,961 shares were traded during mid-day trading, a decline of 58% from the average daily volume of 81,887,281 shares. The stock had previously closed at $163.55.

Analysts Set New Price Targets

PLTR has been the topic of several analyst reports. DA Davidson lifted their price target on shares of Palantir Technologies from $170.00 to $215.00 and gave the stock a “neutral” rating in a report on Tuesday, November 4th. Morgan Stanley raised their price objective on Palantir Technologies from $155.00 to $205.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 4th. Deutsche Bank Aktiengesellschaft upped their target price on Palantir Technologies from $160.00 to $200.00 and gave the company a “hold” rating in a research report on Tuesday, November 4th. Mizuho increased their price target on Palantir Technologies from $165.00 to $205.00 and gave the company a “neutral” rating in a research note on Tuesday, November 4th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Palantir Technologies in a report on Monday, November 17th. Five analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $172.28.

Palantir Technologies Stock Performance

The firm has a market cap of $401.46 billion, a PE ratio of 401.05, a price-to-earnings-growth ratio of 6.43 and a beta of 2.63. The stock has a 50 day simple moving average of $179.76 and a two-hundred day simple moving average of $159.25.

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

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 308,635 shares of Palantir Technologies stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $163.99, for a total value of $50,613,053.65. Following the completion of the transaction, the insider owned 592 shares of the company’s stock, valued at approximately $97,082.08. The trade was a 99.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider David A. Glazer sold 81,000 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $154.47, for a total transaction of $12,512,070.00. Following the sale, the insider directly owned 431,169 shares in the company, valued at approximately $66,602,675.43. The trade was a 15.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 1,146,892 shares of company stock worth $186,381,382. Insiders own 9.23% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

Several institutional investors and hedge funds have recently modified their holdings of PLTR. Signature Resources Capital Management LLC purchased a new position in shares of Palantir Technologies during the 2nd quarter valued at approximately $25,000. Wealth Preservation Advisors LLC acquired a new position in Palantir Technologies during the first quarter worth $27,000. 1248 Management LLC purchased a new position in Palantir Technologies during the first quarter valued at $27,000. Briaud Financial Planning Inc acquired a new stake in shares of Palantir Technologies in the second quarter valued at about $27,000. Finally, LFA Lugano Financial Advisors SA purchased a new stake in shares of Palantir Technologies during the second quarter worth about $27,000. Hedge funds and other 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.