Palantir Technologies (NASDAQ:PLTR) Rating Increased to Overweight at Morgan Stanley

Morgan Stanley upgraded shares of Palantir Technologies (NASDAQ:PLTR) from an equal weight rating to an overweight rating in a research report report published on Tuesday, MarketBeat.com reports. The brokerage currently has $95.00 price objective on the stock, up from their prior price objective of $60.00.

Several other equities research analysts also recently issued reports on PLTR. Baird R W raised Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. Jefferies Financial Group downgraded Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price objective for the company. in a research note on Thursday, November 7th. Bank of America increased their price objective on Palantir Technologies from $55.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Wedbush increased their price objective on Palantir Technologies from $75.00 to $90.00 and gave the stock an “outperform” rating in a research note on Thursday, January 23rd. Finally, UBS Group began coverage on Palantir Technologies in a research note on Thursday, December 19th. They issued a “neutral” rating and a $80.00 price objective for the company. Six investment analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $69.44.

Palantir Technologies Stock Up 9.8 %

Shares of NASDAQ PLTR opened at $111.28 on Tuesday. Palantir Technologies has a 12 month low of $20.33 and a 12 month high of $111.55. The company has a market cap of $253.50 billion, a price-to-earnings ratio of 556.43, a P/E/G ratio of 7.54 and a beta of 2.81. The business has a fifty day simple moving average of $75.56 and a 200-day simple moving average of $52.26.

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. The firm had revenue of $725.52 million during the quarter, compared to the consensus estimate of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The business’s revenue for the quarter was up 30.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.03 EPS. As a group, sell-side analysts expect that Palantir Technologies will post 0.19 EPS for the current fiscal year.

Insider Activity

In other Palantir Technologies news, Director Alexandra W. Schiff sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $71.63, for a total value of $286,520.00. Following the sale, the director now owns 195,393 shares of the company’s stock, valued at $13,996,000.59. This trade represents a 2.01 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Lauren Elaina Friedman Stat sold 9,746 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $66.77, for a total value of $650,740.42. Following the completion of the sale, the director now directly owns 111,644 shares in the company, valued at $7,454,469.88. This trade represents a 8.03 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,656,687 shares of company stock valued at $1,040,105,687. Insiders own 12.93% of the company’s stock.

Institutional Trading of Palantir Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PLTR. Czech National Bank acquired a new stake in Palantir Technologies in the 3rd quarter valued at approximately $15,261,000. GAMMA Investing LLC lifted its position in shares of Palantir Technologies by 83.9% in the 3rd quarter. GAMMA Investing LLC now owns 5,713 shares of the company’s stock worth $213,000 after acquiring an additional 2,607 shares during the period. Azzad Asset Management Inc. ADV bought a new stake in shares of Palantir Technologies in the 3rd quarter worth approximately $209,000. Diversified Trust Co lifted its position in shares of Palantir Technologies by 172.7% in the 3rd 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 bought a new stake in shares of Palantir Technologies in the 3rd quarter worth approximately $273,000. 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.