Palantir Technologies (NASDAQ:PLTR) Upgraded at Morgan Stanley

Palantir Technologies (NASDAQ:PLTR) was upgraded by equities researchers at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a report issued on Tuesday, MarketBeat Ratings reports. The brokerage currently has a $95.00 target price on the stock, up from their previous target price of $60.00. Morgan Stanley’s target price would indicate a potential downside of 6.27% from the company’s previous close.

A number of other brokerages have also recently issued reports on PLTR. Cantor Fitzgerald began coverage on shares of Palantir Technologies in a report on Friday, January 17th. They set a “neutral” rating and a $72.00 price objective for the company. UBS Group assumed coverage on shares of Palantir Technologies in a report on Thursday, December 19th. They issued a “neutral” rating and a $80.00 price target for the company. The Goldman Sachs Group upped their price objective on shares of Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Wedbush lifted their target price on Palantir Technologies from $75.00 to $90.00 and gave the stock an “outperform” rating in a report on Thursday, January 23rd. Finally, Jefferies Financial Group downgraded Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price target for the company. in a report on Thursday, November 7th. Six analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Palantir Technologies has an average rating of “Hold” and a consensus price target of $69.44.

Palantir Technologies Stock Down 2.4 %

NASDAQ:PLTR opened at $101.36 on Tuesday. Palantir Technologies has a 12-month low of $19.76 and a 12-month high of $106.91. The stock’s fifty day simple moving average is $74.85 and its 200-day simple moving average is $51.92. The firm has a market capitalization of $230.90 billion, a P/E ratio of 506.83, a P/E/G ratio of 7.54 and a beta of 2.81.

Palantir Technologies (NASDAQ:PLTR) last issued its earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The firm had revenue of $725.52 million for the quarter, compared to analysts’ expectations of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The company’s revenue was up 30.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.03 earnings per share. As a group, equities research analysts expect that Palantir Technologies will post 0.19 earnings per share for the current year.

Insider Buying and Selling at Palantir Technologies

In related news, insider Alexander C. Karp sold 1,823,602 shares of Palantir Technologies stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $63.12, for a total value of $115,105,758.24. Following the sale, the insider now owns 6,432,258 shares of the company’s stock, valued at approximately $406,004,124.96. The trade was a 22.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 8,860 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $58.06, for a total value of $514,411.60. Following the sale, the director now owns 121,390 shares in the company, valued at $7,047,903.40. The trade was a 6.80 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,653,753 shares of company stock worth $1,039,407,675. Insiders own 12.93% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

A number of institutional investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its holdings in shares of Palantir Technologies by 60.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock valued at $460,798,000 after purchasing an additional 4,667,955 shares during the period. Diversify Wealth Management LLC acquired a new position in Palantir Technologies during the fourth quarter worth approximately $876,000. Destiny Wealth Partners LLC acquired a new position in Palantir Technologies during the fourth quarter worth approximately $3,233,000. State of Alaska Department of Revenue raised its stake in Palantir Technologies by 22.9% in the third quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company’s stock valued at $13,786,000 after buying an additional 68,945 shares during the period. Finally, Oppenheimer & Co. Inc. lifted its position in shares of Palantir Technologies by 19.2% in the third quarter. Oppenheimer & Co. Inc. now owns 541,567 shares of the company’s stock valued at $20,146,000 after buying an additional 87,062 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

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.