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

Palantir Technologies (NASDAQ:PLTR) had its price objective upped by Jefferies Financial Group from $28.00 to $60.00 in a research report sent to investors on Tuesday,Benzinga reports. Jefferies Financial Group currently has an underperform rating on the stock.

Other research analysts have also issued research reports about the stock. Mizuho increased their price target on shares of Palantir Technologies from $44.00 to $80.00 and gave the stock an “underperform” rating in a research report on Tuesday. DA Davidson increased their price target on shares of Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Wedbush increased their price target on shares of Palantir Technologies from $75.00 to $90.00 and gave the stock an “outperform” rating in a research report on Thursday, January 23rd. Argus lowered shares of Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Finally, Morgan Stanley raised shares of Palantir Technologies from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $60.00 to $95.00 in a report on Tuesday. Six research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $69.44.

Palantir Technologies Stock Performance

NASDAQ PLTR opened at $111.28 on Tuesday. The firm has a 50-day simple moving average of $75.56 and a 200 day simple moving average of $52.26. Palantir Technologies has a twelve month low of $20.33 and a twelve month high of $111.55. The stock has a market cap of $253.50 billion, a PE ratio of 556.43, a PEG ratio of 7.54 and a beta of 2.81.

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 the consensus estimate of $0.09 by $0.01. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The business had revenue of $725.52 million during the quarter, compared to analysts’ expectations of $705.11 million. During the same quarter last year, the company earned $0.03 earnings per share. The firm’s revenue 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 fiscal year.

Insider Activity

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 450,000 shares of the firm’s 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 transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alexander C. Karp sold 1,823,602 shares of Palantir Technologies stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $63.12, for a total transaction of $115,105,758.24. Following the transaction, the insider now directly owns 6,432,258 shares in the company, valued at approximately $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 15,656,687 shares of company stock valued at $1,040,105,687 over the last three months. 12.93% of the stock is owned by insiders.

Hedge Funds Weigh In On Palantir Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in PLTR. Czech National Bank bought a new position in shares of Palantir Technologies during the third quarter worth $15,261,000. GAMMA Investing LLC boosted its position in shares of Palantir Technologies by 83.9% during the third quarter. GAMMA Investing LLC now owns 5,713 shares of the company’s stock worth $213,000 after purchasing an additional 2,607 shares in the last quarter. Azzad Asset Management Inc. ADV acquired a new stake in shares of Palantir Technologies during the third quarter worth $209,000. Diversified Trust Co raised its holdings in shares of Palantir Technologies by 172.7% during the third quarter. Diversified Trust Co now owns 21,559 shares of the company’s stock worth $802,000 after acquiring an additional 13,652 shares during the period. Finally, Smith Anglin Financial LLC acquired a new stake in shares of Palantir Technologies during the third quarter worth $273,000. 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.