Analysts Set Palantir Technologies Inc. (NASDAQ:PLTR) Target Price at $174.69

Shares of Palantir Technologies Inc. (NASDAQ:PLTRGet Free Report) have earned an average rating of “Hold” from the twenty-five brokerages that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, sixteen have given a hold recommendation, six have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $174.6905.

Several brokerages recently weighed in on PLTR. Piper Sandler raised their price target on shares of Palantir Technologies from $201.00 to $225.00 and gave the company an “overweight” rating in a research report on Tuesday, November 4th. Morgan Stanley raised their target price on Palantir Technologies from $155.00 to $205.00 and gave the company an “equal weight” rating in a report on Tuesday, November 4th. Royal Bank Of Canada upped their price target on Palantir Technologies from $45.00 to $50.00 and gave the stock an “underperform” rating in a report on Tuesday, November 4th. Wall Street Zen cut Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Friday, November 28th. Finally, Zacks Research upgraded shares of Palantir Technologies from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 1st.

Get Our Latest Analysis on PLTR

Palantir Technologies Stock Up 0.4%

Shares of PLTR opened at $177.49 on Friday. Palantir Technologies has a 12-month low of $63.40 and a 12-month high of $207.52. The business’s fifty day moving average is $179.21 and its 200 day moving average is $170.81. The stock has a market cap of $423.04 billion, a P/E ratio of 422.61, a P/E/G ratio of 4.47 and a beta of 1.54.

Palantir Technologies (NASDAQ:PLTRGet Free Report) last announced its quarterly earnings results on Monday, November 3rd. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.04. Palantir Technologies had a net margin of 28.11% and a return on equity of 15.48%. The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same quarter in the previous year, the business posted $0.10 EPS. Palantir Technologies’s quarterly revenue was up 62.8% on a year-over-year basis. On average, analysts expect that Palantir Technologies will post 0.31 EPS for the current year.

Trending Headlines about Palantir Technologies

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Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Shyam Sankar sold 19,004 shares of Palantir Technologies stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $156.25, for a total transaction of $2,969,375.00. Following the transaction, the insider owned 642,786 shares of the company’s stock, valued at $100,435,312.50. This trade represents a 2.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ryan D. Taylor sold 12,000 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $181.35, for a total value of $2,176,200.00. Following the completion of the transaction, the insider owned 239,409 shares in the company, valued at $43,416,822.15. The trade was a 4.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 1,023,444 shares of company stock worth $167,394,629. Company insiders own 12.93% of the company’s stock.

Institutional Investors Weigh In On Palantir Technologies

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in Palantir Technologies by 4.0% in the third quarter. Vanguard Group Inc. now owns 213,886,270 shares of the company’s stock worth $39,017,133,000 after acquiring an additional 8,168,604 shares during the period. State Street Corp increased its stake in shares of Palantir Technologies by 7.2% during the 3rd quarter. State Street Corp now owns 101,258,899 shares of the company’s stock worth $18,471,648,000 after purchasing an additional 6,777,771 shares during the last quarter. Norges Bank bought a new stake in shares of Palantir Technologies in the 2nd quarter worth approximately $3,307,457,000. Invesco Ltd. lifted its stake in Palantir Technologies by 5.9% in the third quarter. Invesco Ltd. now owns 21,798,785 shares of the company’s stock valued at $3,976,534,000 after purchasing an additional 1,213,529 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in Palantir Technologies by 3.8% in the third quarter. Northern Trust Corp now owns 21,088,462 shares of the company’s stock valued at $3,846,957,000 after purchasing an additional 769,238 shares during the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

About Palantir Technologies

(Get Free Report)

Palantir Technologies is a software company that develops data integration, analytics and operational decision-making platforms for government and commercial customers. Founded in 2003 by a team that included Alex Karp and Peter Thiel, Palantir has grown into a provider of enterprise-scale software designed to help organizations integrate disparate data sources, build analytic models and drive operational workflows. The company went public in 2020 and continues to position its products around large, complex data projects where security, provenance and real-time collaboration are important.

Palantir’s product portfolio centers on a small number of core platforms.

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Analyst Recommendations for Palantir Technologies (NASDAQ:PLTR)

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