Palantir Technologies (NASDAQ:PLTR) Given New $40.00 Price Target at Royal Bank of Canada

Palantir Technologies (NASDAQ:PLTR) had its target price upped by Royal Bank of Canada from $11.00 to $40.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The brokerage currently has an underperform rating on the stock.

Other research analysts have also recently issued research reports about the company. UBS Group increased their price objective on Palantir Technologies from $80.00 to $105.00 and gave the stock a “neutral” rating in a research note on Tuesday. Robert W. Baird increased their price objective on Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a research note on Tuesday. Jefferies Financial Group increased their price objective on Palantir Technologies from $28.00 to $60.00 and gave the stock an “underperform” rating in a research note on Tuesday. Argus lowered Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Finally, Cantor Fitzgerald upped their target price on Palantir Technologies from $72.00 to $98.00 and gave the stock a “neutral” rating in a report on Tuesday. Six investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $64.89.

Palantir Technologies Stock Performance

PLTR opened at $103.83 on Tuesday. Palantir Technologies has a one year low of $16.48 and a one year high of $106.91. The stock has a market cap of $236.53 billion, a price-to-earnings ratio of 519.18, a P/E/G ratio of 7.54 and a beta of 2.81. The stock’s 50 day moving average price is $74.09 and its 200-day moving average price is $51.39.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.01. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. 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 prior year, the firm earned $0.03 earnings per share. Palantir Technologies’s revenue was up 30.0% compared to the same quarter last year. As a group, analysts predict that Palantir Technologies will post 0.19 earnings per share for the current fiscal year.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 10,721 shares of the stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $76.78, for a total transaction of $823,158.38. Following the sale, the director now directly owns 100,923 shares of the company’s stock, valued at approximately $7,748,867.94. This trade represents a 9.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Alexander C. Karp sold 1,823,602 shares of the 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 directly owns 6,432,258 shares in the company, valued at $406,004,124.96. This represents a 22.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,153,753 shares of company stock valued at $1,287,042,675 in the last ninety days. Company insiders own 12.93% of the company’s stock.

Institutional Investors Weigh In On Palantir Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. grew its position in shares of Palantir Technologies by 60.5% during 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 acquiring an additional 4,667,955 shares during the period. Diversify Wealth Management LLC acquired a new stake in shares of Palantir Technologies during the 4th quarter valued at about $876,000. Destiny Wealth Partners LLC acquired a new stake in shares of Palantir Technologies during the 4th quarter valued at about $3,233,000. State of Alaska Department of Revenue grew its position in shares of Palantir Technologies by 22.9% during the 3rd quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company’s stock valued at $13,786,000 after acquiring an additional 68,945 shares during the period. Finally, Oppenheimer & Co. Inc. grew its position in shares of Palantir Technologies by 19.2% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 541,567 shares of the company’s stock valued at $20,146,000 after acquiring an additional 87,062 shares during the period. 45.65% of the stock is owned by institutional investors and hedge funds.

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.