UBS Group Issues Positive Forecast for Palantir Technologies (NASDAQ:PLTR) Stock Price

Palantir Technologies (NASDAQ:PLTR) had its price target hoisted by research analysts at UBS Group from $80.00 to $105.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. UBS Group’s target price would suggest a potential upside of 2.91% from the company’s current price.

Several other brokerages have also recently issued reports on PLTR. Robert W. Baird upped their target price on shares of Palantir Technologies from $70.00 to $100.00 and gave the company a “neutral” rating in a research report on Tuesday. Cantor Fitzgerald upped their price target on shares of Palantir Technologies from $72.00 to $98.00 and gave the company a “neutral” rating in a report on Tuesday. DA Davidson upped their price target on shares of Palantir Technologies from $47.00 to $105.00 and gave the company a “neutral” rating in a report on Tuesday. Jefferies Financial Group upped their price target on shares of Palantir Technologies from $28.00 to $60.00 and gave the company an “underperform” rating in a report on Tuesday. Finally, Baird R W upgraded shares of Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. Six investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $63.17.

Palantir Technologies Trading Up 21.8 %

PLTR stock traded up $18.29 on Tuesday, hitting $102.03. The company had a trading volume of 165,981,674 shares, compared to its average volume of 75,279,117. Palantir Technologies has a 12-month low of $16.48 and a 12-month high of $106.91. The stock has a market cap of $232.42 billion, a price-to-earnings ratio of 505.78, a P/E/G ratio of 7.54 and a beta of 2.81. The stock’s 50-day simple moving average is $74.09 and its 200 day simple moving average is $51.39.

Palantir Technologies (NASDAQ:PLTR) last released 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. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The company had revenue of $725.52 million for the quarter, compared to analysts’ expectations of $705.11 million. During the same quarter in the previous year, the company earned $0.03 EPS. Palantir Technologies’s revenue for the quarter was up 30.0% on a year-over-year basis. Research analysts forecast that Palantir Technologies will post 0.19 earnings per share for the current year.

Insiders Place Their Bets

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 10,721 shares of Palantir Technologies stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $76.78, for a total transaction of $823,158.38. Following the completion of the sale, the director now directly owns 100,923 shares in the company, valued at $7,748,867.94. This trade represents a 9.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Alexander C. Karp sold 4,500,000 shares of Palantir Technologies stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $55.03, for a total transaction of $247,635,000.00. Following the sale, the insider now owns 6,432,258 shares of the company’s stock, valued at approximately $353,967,157.74. This represents a 41.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,153,753 shares of company stock valued at $1,287,042,675 over the last ninety days. Company insiders own 12.93% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Rothschild Investment LLC grew its holdings in Palantir Technologies by 22.9% during the 4th quarter. Rothschild Investment LLC now owns 8,454 shares of the company’s stock worth $639,000 after acquiring an additional 1,573 shares in the last quarter. Crestwood Advisors Group LLC grew its holdings in Palantir Technologies by 113.1% during the 4th quarter. Crestwood Advisors Group LLC now owns 11,642 shares of the company’s stock worth $880,000 after acquiring an additional 6,178 shares in the last quarter. Rowlandmiller & PARTNERS.ADV acquired a new position in Palantir Technologies during the 4th quarter worth approximately $106,000. WealthShield Partners LLC acquired a new position in Palantir Technologies during the 4th quarter worth approximately $283,000. Finally, Colonial River Investments LLC grew its holdings in Palantir Technologies by 4.5% during the 4th quarter. Colonial River Investments LLC now owns 25,536 shares of the company’s stock worth $1,931,000 after acquiring an additional 1,102 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Company Profile

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.