Palantir Technologies (NASDAQ:PLTR) Price Target Raised to $80.00 at Northland Securities

Palantir Technologies (NASDAQ:PLTR) had its price objective raised by Northland Securities from $38.00 to $80.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a market perform rating on the stock.

A number of other analysts have also weighed in on the stock. UBS Group started coverage on shares of Palantir Technologies in a report on Thursday, December 19th. They set a “neutral” rating and a $80.00 target price on the stock. Mizuho increased their price objective on Palantir Technologies from $37.00 to $44.00 and gave the stock an “underperform” rating in a research report on Friday, December 13th. Argus cut Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Wedbush raised their price target on Palantir Technologies from $75.00 to $90.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Finally, Baird R W raised Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. Six 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. According to data from MarketBeat, Palantir Technologies presently has a consensus rating of “Hold” and an average price target of $64.89.

Palantir Technologies Stock Performance

Shares of NASDAQ PLTR opened at $103.83 on Tuesday. Palantir Technologies has a fifty-two week low of $16.48 and a fifty-two week high of $106.91. The stock has a market cap of $236.53 billion, a PE ratio of 519.18, a price-to-earnings-growth ratio of 7.54 and a beta of 2.81. The stock has a fifty day moving average of $74.09 and a 200-day moving average of $51.39.

Palantir Technologies (NASDAQ:PLTR) last posted 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 return on equity of 9.94% and a net margin of 18.01%. The business had revenue of $725.52 million during the quarter, compared to analyst estimates of $705.11 million. During the same quarter in the previous year, the firm earned $0.03 EPS. The company’s quarterly revenue was up 30.0% compared to the same quarter last year. On average, sell-side analysts predict that Palantir Technologies will post 0.19 EPS for the current year.

Insider Activity

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 8,860 shares of Palantir Technologies stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $58.06, for a total value of $514,411.60. Following the transaction, the director now directly owns 121,390 shares of the company’s stock, valued at $7,047,903.40. The trade was a 6.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Stephen Andrew Cohen sold 450,000 shares of the stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $70.95, for a total value of $31,927,500.00. Following the sale, the insider now directly owns 592 shares of the company’s stock, valued at approximately $42,002.40. This trade represents a 99.87 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,153,753 shares of company stock valued at $1,287,042,675. 12.93% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Palantir Technologies

A number of hedge funds have recently modified their holdings of the company. Roxbury Financial LLC bought a new stake in shares of Palantir Technologies in the fourth quarter worth about $27,000. First PREMIER Bank bought a new stake in shares of Palantir Technologies in the 4th quarter worth approximately $28,000. Wolff Wiese Magana LLC grew its position in shares of Palantir Technologies by 230.4% in the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock worth $29,000 after buying an additional 265 shares during the last quarter. HighMark Wealth Management LLC increased its stake in shares of Palantir Technologies by 73.5% during the fourth quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock valued at $30,000 after buying an additional 166 shares during the period. Finally, Sierra Ocean LLC bought a new position in shares of Palantir Technologies during the fourth quarter valued at approximately $31,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

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.