Palantir Technologies (NYSE:PLTR) Price Target Raised to $24.00 at DA Davidson

Palantir Technologies (NYSE:PLTR) had its price target raised by DA Davidson from $19.00 to $24.00 in a research report report published on Tuesday, Benzinga reports. DA Davidson currently has a neutral rating on the stock. DA Davidson also issued estimates for Palantir Technologies’ FY2025 earnings at $0.25 EPS.

A number of other brokerages have also weighed in on PLTR. Mizuho upped their target price on shares of Palantir Technologies from $18.00 to $21.00 and gave the stock a neutral rating in a research report on Thursday, March 7th. HSBC cut Palantir Technologies from a buy rating to a hold rating and set a $22.00 target price on the stock. in a report on Wednesday, February 14th. Raymond James increased their price target on Palantir Technologies from $22.00 to $25.00 and gave the company an outperform rating in a research note on Tuesday, February 6th. Citigroup raised Palantir Technologies from a sell rating to a neutral rating and upped their price objective for the stock from $10.00 to $20.00 in a report on Tuesday, February 6th. Finally, Royal Bank of Canada reaffirmed an underperform rating and set a $5.00 price target on shares of Palantir Technologies in a research note on Tuesday, February 6th. Five equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $20.65.

Palantir Technologies Price Performance

Shares of NYSE:PLTR opened at $21.41 on Tuesday. The company has a market capitalization of $47.36 billion, a P/E ratio of 237.86, a P/E/G ratio of 5.72 and a beta of 2.76. Palantir Technologies has a 1-year low of $7.59 and a 1-year high of $27.50. The firm’s 50 day simple moving average is $23.40 and its two-hundred day simple moving average is $20.31.

Palantir Technologies (NYSE:PLTR) last released its earnings results on Monday, February 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.01). Palantir Technologies had a return on equity of 6.17% and a net margin of 9.43%. The business had revenue of $608.35 million for the quarter, compared to analysts’ expectations of $603.48 million. On average, sell-side analysts anticipate that Palantir Technologies will post 0.16 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Ryan D. Taylor sold 150,000 shares of Palantir Technologies stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $24.00, for a total value of $3,600,000.00. Following the transaction, the insider now owns 181,460 shares of the company’s stock, valued at approximately $4,355,040. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Shyam Sankar sold 29,168 shares of Palantir Technologies stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $25.00, for a total value of $729,200.00. Following the completion of the sale, the insider now directly owns 752,786 shares in the company, valued at approximately $18,819,650. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ryan D. Taylor sold 150,000 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $24.00, for a total transaction of $3,600,000.00. Following the transaction, the insider now owns 181,460 shares in the company, valued at approximately $4,355,040. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,356,273 shares of company stock worth $182,143,602. 13.96% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Palantir Technologies

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Palantir Technologies by 3.5% in the 4th quarter. Vanguard Group Inc. now owns 193,805,263 shares of the company’s stock valued at $3,327,636,000 after acquiring an additional 6,466,596 shares during the last quarter. Morgan Stanley boosted its holdings in Palantir Technologies by 26.1% in the third quarter. Morgan Stanley now owns 22,614,555 shares of the company’s stock valued at $361,833,000 after purchasing an additional 4,675,824 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in Palantir Technologies by 15.7% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 14,571,224 shares of the company’s stock worth $335,284,000 after purchasing an additional 1,980,495 shares during the period. Northern Trust Corp lifted its holdings in shares of Palantir Technologies by 5.5% in the 3rd quarter. Northern Trust Corp now owns 11,498,685 shares of the company’s stock valued at $183,979,000 after buying an additional 601,012 shares during the period. Finally, ARK Investment Management LLC grew its holdings in Palantir Technologies by 16.1% during the fourth quarter. ARK Investment Management LLC now owns 10,937,859 shares of the company’s stock worth $187,803,000 after acquiring an additional 1,514,232 shares during the period. 45.65% of the stock is owned by institutional investors and hedge funds.

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.