Palantir Technologies (NASDAQ:PLTR) Stock Price Up 4.2% – Should You Buy?

Palantir Technologies Inc. (NASDAQ:PLTR) rose 4.2% on Thursday . The company traded as high as $76.59 and last traded at $74.49. Approximately 38,409,057 shares changed hands during trading, a decline of 36% from the average daily volume of 60,393,316 shares. The stock had previously closed at $71.51.

Wall Street Analyst Weigh In

PLTR has been the subject of several research analyst reports. Raymond James lowered Palantir Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. DA Davidson boosted their target price on Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Mizuho upped their target price on Palantir Technologies from $37.00 to $44.00 and gave the stock an “underperform” rating in a research note on Friday, December 13th. Jefferies Financial Group lowered shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 target price on the stock. in a report on Thursday, November 7th. Finally, Bank of America boosted their price target on shares of Palantir Technologies from $55.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Six analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $41.00.

Palantir Technologies Stock Up 3.7 %

The firm’s fifty day moving average is $57.71 and its two-hundred day moving average is $39.61. The firm has a market cap of $168.89 billion, a P/E ratio of 370.72, a PEG ratio of 10.18 and a beta of 2.87.

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

Insider Activity

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 6,655 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $38.17, for a total transaction of $254,021.35. Following the completion of the sale, the director now directly owns 145,625 shares in the company, valued at approximately $5,558,506.25. This trade represents a 4.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Heather A. Planishek sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $39.95, for a total transaction of $799,000.00. Following the completion of the transaction, the insider now owns 562,006 shares of the company’s stock, valued at approximately $22,452,139.70. The trade was a 3.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,612,366 shares of company stock worth $1,867,342,292 over the last three months. 12.93% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PLTR. Summit Securities Group LLC purchased a new position in shares of Palantir Technologies during the 2nd quarter valued at $25,000. Farmers & Merchants Investments Inc. purchased a new position in shares of Palantir Technologies in the second quarter valued at about $25,000. Northwest Investment Counselors LLC bought a new position in shares of Palantir Technologies in the third quarter worth about $25,000. Prestige Wealth Management Group LLC raised its stake in Palantir Technologies by 747.1% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after purchasing an additional 650 shares during the period. Finally, University of Texas Texas AM Investment Management Co. purchased a new position in Palantir Technologies in the 2nd quarter worth approximately $30,000. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Company Profile

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.