Palantir Technologies (NYSE:PLTR) Price Target Raised to $75.00 at Wedbush

Palantir Technologies (NYSE:PLTR) had its target price lifted by equities researchers at Wedbush from $57.00 to $75.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Wedbush’s target price suggests a potential upside of 14.09% from the stock’s previous close.

Other research analysts have also recently issued reports about the stock. The Goldman Sachs Group increased their target price on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Northland Securities increased their target price on shares of Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a report on Tuesday, November 5th. Bank of America increased their target price on shares of Palantir Technologies from $55.00 to $75.00 and gave the stock a “buy” rating in a report on Monday. Jefferies Financial Group downgraded shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price objective on the stock. in a research report on Thursday, November 7th. Finally, DA Davidson lifted their price objective on shares of Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Six research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $35.64.

Palantir Technologies Trading Up 1.7 %

NYSE PLTR opened at $65.74 on Monday. The company’s 50-day moving average price is $47.09 and its 200-day moving average price is $34.10. The stock has a market cap of $149.76 billion, a PE ratio of 328.72 and a beta of 2.70. Palantir Technologies has a 12 month low of $15.66 and a 12 month high of $67.88.

Palantir Technologies (NYSE:PLTR) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The firm had revenue of $725.52 million for the quarter, compared to analysts’ expectations of $705.11 million. During the same period in the prior year, the business posted $0.03 earnings per share. The business’s revenue for the quarter was up 30.0% on a year-over-year basis. As a group, sell-side analysts forecast that Palantir Technologies will post 0.21 earnings per share for the current year.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 6,000 shares of Palantir Technologies stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $36.35, for a total transaction of $218,100.00. Following the completion of the sale, the director now directly owns 152,280 shares in the company, valued at approximately $5,535,378. The trade was a 3.79 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Heather A. Planishek sold 14,016 shares of Palantir Technologies stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $30.67, for a total transaction of $429,870.72. Following the sale, the insider now owns 576,023 shares of the company’s stock, valued at approximately $17,666,625.41. The trade was a 2.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,167,451 shares of company stock worth $1,603,067,889. Company insiders own 12.93% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

Large investors have recently made changes to their positions in the company. Northwest Investment Counselors LLC acquired a new position in shares of Palantir Technologies in the 3rd quarter valued at $25,000. Prestige Wealth Management Group LLC increased its holdings in Palantir Technologies by 747.1% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after acquiring an additional 650 shares in the last quarter. Summit Securities Group LLC purchased a new stake in Palantir Technologies in the 2nd quarter worth $25,000. Farmers & Merchants Investments Inc. purchased a new stake in Palantir Technologies in the 2nd quarter worth $25,000. Finally, Creekmur Asset Management LLC increased its holdings in Palantir Technologies by 46.0% in the 3rd quarter. Creekmur Asset Management LLC now owns 1,063 shares of the company’s stock worth $40,000 after acquiring an additional 335 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

About Palantir Technologies

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. 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 facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.