Northland Securities Raises Palantir Technologies (NYSE:PLTR) Price Target to $38.00

Palantir Technologies (NYSE:PLTR) had its price objective raised by Northland Securities from $35.00 to $38.00 in a research report report published on Tuesday, Benzinga reports. The firm currently has a market perform rating on the stock.

PLTR has been the topic of a number of other research reports. Wedbush increased their target price on Palantir Technologies from $38.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, September 26th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Palantir Technologies from $20.00 to $21.00 and gave the stock a “sell” rating in a research note on Tuesday, August 6th. Jefferies Financial Group increased their target price on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Bank of America lifted their price target on shares of Palantir Technologies from $30.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Finally, Citigroup increased their price target on Palantir Technologies from $25.00 to $28.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Five analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $29.93.

Palantir Technologies Price Performance

Palantir Technologies stock opened at $51.15 on Tuesday. The company has a market cap of $114.55 billion, a price-to-earnings ratio of 300.90 and a beta of 2.70. The firm has a 50-day moving average of $38.19 and a 200-day moving average of $29.75. Palantir Technologies has a one year low of $15.66 and a one year high of $51.58.

Palantir Technologies (NYSE:PLTR) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The firm had revenue of $725.52 million during the quarter, compared to analysts’ expectations of $705.11 million. Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. The company’s revenue for the quarter was up 30.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.03 earnings per share. As a group, sell-side analysts expect that Palantir Technologies will post 0.19 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Ryan D. Taylor sold 249,684 shares of Palantir Technologies stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $30.01, for a total transaction of $7,493,016.84. Following the sale, the insider now directly owns 372,565 shares of the company’s stock, valued at approximately $11,180,675.65. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Ryan D. Taylor sold 249,684 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $30.01, for a total value of $7,493,016.84. Following the completion of the transaction, the insider now owns 372,565 shares in the company, valued at $11,180,675.65. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Alexander C. Karp sold 3,337,048 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $45.02, for a total transaction of $150,233,900.96. Following the sale, the insider now directly owns 6,432,258 shares in the company, valued at $289,580,255.16. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,204,508 shares of company stock valued at $802,654,666 in the last 90 days. Corporate insiders own 12.93% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

A number of hedge funds have recently made changes to their positions in PLTR. Northwest Investment Counselors LLC acquired a new stake in Palantir Technologies during the 3rd quarter valued at approximately $25,000. Summit Securities Group LLC acquired a new stake in shares of Palantir Technologies during the second quarter worth $25,000. Farmers & Merchants Investments Inc. bought a new position in Palantir Technologies during the second quarter worth $25,000. Creekmur Asset Management LLC boosted its position in Palantir Technologies by 46.0% during the third quarter. Creekmur Asset Management LLC now owns 1,063 shares of the company’s stock valued at $40,000 after acquiring an additional 335 shares during the last quarter. Finally, University of Texas Texas AM Investment Management Co. bought a new stake in Palantir Technologies during the second quarter valued at $30,000. 45.65% of the stock is currently owned by institutional investors.

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.