Bank of America Increases Palantir Technologies (NYSE:PLTR) Price Target to $18.00
Palantir Technologies (NYSE:PLTR – Get Rating) had its price objective boosted by stock analysts at Bank of America from $13.00 to $18.00 in a research note issued on Monday, The Fly reports. The firm currently has a “buy” rating on the stock. Bank of America’s target price suggests a potential upside of 15.83% from the stock’s previous close.
Other equity analysts also recently issued reports about the company. Mizuho lifted their target price on Palantir Technologies from $7.00 to $8.00 and gave the company a “neutral” rating in a research report on Tuesday, February 14th. Deutsche Bank Aktiengesellschaft lifted their target price on Palantir Technologies from $6.00 to $7.00 in a research report on Tuesday, May 9th. Royal Bank of Canada reaffirmed an “underperform” rating and issued a $5.00 target price on shares of Palantir Technologies in a research report on Thursday, February 23rd. The Goldman Sachs Group dropped their target price on Palantir Technologies from $9.00 to $8.00 and set a “neutral” rating for the company in a research report on Tuesday, February 14th. Finally, William Blair reiterated an “underperform” rating on shares of Palantir Technologies in a research note on Monday, March 27th. Five investment analysts have rated the stock with a sell rating, seven have been given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Palantir Technologies has an average rating of “Hold” and a consensus target price of $9.29.
Palantir Technologies Price Performance
Shares of NYSE:PLTR traded up $0.52 during midday trading on Monday, reaching $15.54. 47,439,455 shares of the company’s stock were exchanged, compared to its average volume of 54,140,465. The firm’s 50 day simple moving average is $10.26 and its two-hundred day simple moving average is $8.50. The stock has a market cap of $32.91 billion, a price-to-earnings ratio of -121.54, a P/E/G ratio of 5.28 and a beta of 2.79. Palantir Technologies has a fifty-two week low of $5.84 and a fifty-two week high of $17.16.
Palantir Technologies (NYSE:PLTR – Get Rating) last issued its quarterly earnings data on Monday, May 8th. The company reported $0.01 earnings per share (EPS) for the quarter. The firm had revenue of $525.19 million during the quarter, compared to the consensus estimate of $504.84 million. Palantir Technologies has a negative return on equity of 12.48% and a negative net margin of 12.88%. Equities research analysts predict that Palantir Technologies will post 0.05 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other news, insider Ryan D. Taylor sold 18,700 shares of the firm’s stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $10.05, for a total value of $187,935.00. Following the completion of the transaction, the insider now owns 210,260 shares in the company, valued at $2,113,113. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, insider Ryan D. Taylor sold 18,700 shares of the stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $10.05, for a total transaction of $187,935.00. Following the sale, the insider now owns 210,260 shares of the company’s stock, valued at $2,113,113. The transaction was disclosed in a filing with the SEC, which can be accessed via this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 7,000 shares of the stock in a transaction on Wednesday, March 15th. The shares were sold at an average price of $7.85, for a total value of $54,950.00. Following the sale, the director now directly owns 206,830 shares in the company, valued at approximately $1,623,615.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,947,828 shares of company stock worth $27,292,172. 13.96% of the stock is owned by corporate insiders.
Institutional Trading of Palantir Technologies
A number of large investors have recently made changes to their positions in the stock. Mandatum Life Insurance Co Ltd boosted its stake in shares of Palantir Technologies by 2.3% during the first quarter. Mandatum Life Insurance Co Ltd now owns 57,591 shares of the company’s stock valued at $487,000 after acquiring an additional 1,292 shares during the last quarter. Utah Retirement Systems boosted its stake in Palantir Technologies by 1.4% in the 3rd quarter. Utah Retirement Systems now owns 95,700 shares of the company’s stock worth $778,000 after buying an additional 1,300 shares during the last quarter. Redwood Wealth Management Group LLC boosted its stake in Palantir Technologies by 4.5% in the 1st quarter. Redwood Wealth Management Group LLC now owns 30,470 shares of the company’s stock worth $257,000 after buying an additional 1,325 shares during the last quarter. Sepio Capital LP boosted its stake in Palantir Technologies by 9.0% in the 1st quarter. Sepio Capital LP now owns 16,181 shares of the company’s stock worth $137,000 after buying an additional 1,333 shares during the last quarter. Finally, Prudential Financial Inc. boosted its stake in Palantir Technologies by 2.7% in the 1st quarter. Prudential Financial Inc. now owns 51,712 shares of the company’s stock worth $479,000 after buying an additional 1,348 shares during the last quarter. Institutional investors and hedge funds own 31.90% of the company’s stock.
About Palantir Technologies
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Palantir Technologies Inc builds and deploys software platforms for the intelligence community in the United States to assist in counterterrorism investigations and operations. The company provides palantir gotham, a software platform which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitating the handoff between analysts and operational users, helping operators plan and execute real-time world responses to threats that have been identified within the platform.
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