Palantir Technologies (NASDAQ:PLTR) Stock Picked Up by Analysts at Fubon

Fubon initiated coverage on shares of Palantir Technologies (NASDAQ:PLTR) in a report released on Tuesday, FinViz reports. The brokerage set a “buy” rating and a $200.00 price target on the stock. Fubon‘s price target suggests a potential upside of 19.05% from the stock’s previous close.

Several other equities analysts have also commented on the stock. Deutsche Bank reissued a “buy” rating and issued a $225.00 target price on shares of Palantir Technologies in a report on Monday, October 26th. Oppenheimer reaffirmed an “outperform” rating and set a $235.00 price target (up from $200.00) on shares of Palantir Technologies in a report on Thursday, October 29th. Yorkville Ives assumed coverage on shares of Palantir Technologies in a research report on Tuesday, October 6th. They set an “outperform” rating and a $250.00 price target on the stock. KeyCorp reiterated a “sector weight” rating on shares of Palantir Technologies in a research report on Wednesday, November 4th. Finally, Truist Financial reissued a “buy” rating and issued a $250.00 price objective (up from $223.00) on shares of Palantir Technologies in a research note on Tuesday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $216.20.

Palantir Technologies Stock Performance

Shares of NASDAQ PLTR traded down $3.59 during mid-day trading on Tuesday, reaching $167.99. The company had a trading volume of 15,160,139 shares, compared to its average volume of 40,742,707. The firm has a market cap of $403.69 billion, a price-to-earnings ratio of 117.48, a PEG ratio of 3.48 and a beta of 1.65. The business’s 50-day simple moving average is $185.08 and its 200 day simple moving average is $153.81. Palantir Technologies has a one year low of $106.37 and a one year high of $212.94.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings data on Monday, November 2nd. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.03. The business had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.18 billion. Palantir Technologies had a net margin of 50.34% and a return on equity of 30.49%. Palantir Technologies’s revenue was up 95.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.21 earnings per share. On average, sell-side analysts anticipate that Palantir Technologies will post 1.36 EPS for the current year.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider Jeffrey Buckley sold 1,250 shares of Palantir Technologies stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $174.29, for a total value of $217,862.50. Following the transaction, the insider owned 56,921 shares in the company, valued at $9,920,761.09. The trade was a 2.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Eric H. Woersching sold 1,000 shares of the business’s stock in a transaction dated Friday, October 9th. The stock was sold at an average price of $205.00, for a total value of $205,000.00. Following the transaction, the director directly owned 3,465 shares of the company’s stock, valued at approximately $710,325. The trade was a 22.40% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 523,716 shares of company stock worth $92,212,379 over the last quarter. 9.53% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Jennison Associates LLC bought a new stake in Palantir Technologies during the 1st quarter worth $1,574,111,000. Arrowstreet Capital Limited Partnership increased its position in Palantir Technologies by 277.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 10,446,959 shares of the company’s stock valued at $1,528,143,000 after purchasing an additional 7,678,747 shares during the period. Bank of America Corp DE lifted its stake in shares of Palantir Technologies by 28.7% in the 1st quarter. Bank of America Corp DE now owns 18,839,779 shares of the company’s stock valued at $2,755,883,000 after purchasing an additional 4,201,852 shares during the period. Janus Henderson Group PLC increased its holdings in Palantir Technologies by 795.6% in the first quarter. Janus Henderson Group PLC now owns 3,323,141 shares of the company’s stock worth $480,247,000 after purchasing an additional 2,952,079 shares in the last quarter. Finally, State Street Corp boosted its stake in Palantir Technologies by 2.8% during the second quarter. State Street Corp now owns 104,490,468 shares of the company’s stock worth $12,190,903,000 after acquiring an additional 2,863,874 shares in the last quarter. Institutional investors own 45.65% of the company’s stock.

Key Headlines Impacting Palantir Technologies

These are some of the PLTR headlines that stood out recently:

• Positive Sentiment: Recent commentary argues Palantir’s growth story remains strong, with its AI software helping drive substantial business momentum. This provides a fundamental counterpoint to the stock’s recent weakness. Article: Palantir: High-Quality Growth Should Never Be Cheap
• Negative Sentiment: Valuation is a key concern: bearish commentary says the share price leaves little room for error, even given Palantir’s exceptional business growth. Investors may be demanding continued rapid growth to justify the premium. Article: Palantir: Exceptional Business, Unjustifiable Price
• Negative Sentiment: ARK Invest reportedly trimmed its Palantir position while buying another AI-related stock. The move may reinforce concerns about investor rotation away from richly valued AI names, although it reflects one fund’s portfolio decision. Article: Cathie Wood Is Buying CoreWeave and Selling Palantir

Palantir Technologies Company Profile

Palantir Technologies is a software company that develops platforms for integrating, analyzing and using data to support operational decisions. Its products are designed to help organizations work with large, complex datasets while managing access and security. The company’s platforms include Gotham, used primarily by government and intelligence customers; Foundry, designed for commercial and other organizations; Apollo, which supports the deployment and management of software; and Artificial Intelligence Platform (AIP), which helps organizations use artificial intelligence with their data and operations.