Palantir Technologies (NASDAQ:PLTR) Stock Price Expected to Rise, UBS Group Analyst Says

Palantir Technologies (NASDAQ:PLTR) had its price objective raised by UBS Group from $80.00 to $105.00 in a report published on Tuesday,Benzinga reports. UBS Group currently has a neutral rating on the stock.

A number of other analysts have also weighed in on PLTR. Wedbush raised their price target on shares of Palantir Technologies from $75.00 to $90.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Bank of America lifted their target price on shares of Palantir Technologies from $90.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday. The Goldman Sachs Group lifted their target price on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. William Blair reaffirmed an “underperform” rating on shares of Palantir Technologies in a report on Wednesday, December 18th. Finally, Northland Securities lifted their target price on shares of Palantir Technologies from $38.00 to $80.00 and gave the stock a “market perform” rating in a report on Tuesday. Six equities research 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’s stock. According to data from MarketBeat.com, Palantir Technologies currently has a consensus rating of “Hold” and an average price target of $64.89.

Palantir Technologies Price Performance

Shares of Palantir Technologies stock opened at $103.83 on Tuesday. The firm has a market cap of $236.53 billion, a P/E ratio of 519.18, a P/E/G ratio of 7.54 and a beta of 2.81. The firm has a 50 day simple moving average of $74.09 and a 200 day simple moving average of $51.39. Palantir Technologies has a fifty-two week low of $16.48 and a fifty-two week high of $106.91.

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

Insider Activity at Palantir Technologies

In related news, insider Alexander C. Karp sold 4,500,000 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $55.03, for a total value of $247,635,000.00. Following the sale, the insider now directly owns 6,432,258 shares of the company’s stock, valued at approximately $353,967,157.74. The trade was a 41.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Shyam Sankar sold 5,250,000 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $70.08, for a total transaction of $367,920,000.00. Following the completion of the sale, the insider now directly owns 752,786 shares in the company, valued at $52,755,242.88. This represents a 87.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,153,753 shares of company stock valued at $1,287,042,675. 12.93% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Palantir Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Denali Advisors LLC bought a new stake in Palantir Technologies during the 4th quarter worth about $2,158,000. Lake Street Advisors Group LLC lifted its position in Palantir Technologies by 29.4% during the 4th quarter. Lake Street Advisors Group LLC now owns 33,549 shares of the company’s stock worth $2,537,000 after buying an additional 7,618 shares in the last quarter. JFG Wealth Management LLC bought a new stake in Palantir Technologies during the 4th quarter worth about $379,000. Kirtland Hills Capital Management LLC lifted its position in Palantir Technologies by 17.2% during the 4th quarter. Kirtland Hills Capital Management LLC now owns 31,997 shares of the company’s stock worth $2,420,000 after buying an additional 4,685 shares in the last quarter. Finally, Bradley & Co. Private Wealth Management LLC bought a new stake in Palantir Technologies during the 4th quarter worth about $67,000. 45.65% of the stock is owned by institutional investors.

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.