Palantir Technologies (NASDAQ:PLTR) Price Target Raised to $50.00

Palantir Technologies (NASDAQ:PLTR) had its price target upped by analysts at Royal Bank Of Canada from $45.00 to $50.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an “underperform” rating on the stock. Royal Bank Of Canada’s price target points to a potential downside of 73.96% from the stock’s previous close.

Several other brokerages also recently commented on PLTR. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Palantir Technologies from $160.00 to $200.00 and gave the stock a “hold” rating in a report on Tuesday. Mizuho boosted their price objective on Palantir Technologies from $165.00 to $205.00 and gave the stock a “neutral” rating in a research report on Tuesday. Citigroup increased their target price on Palantir Technologies from $177.00 to $190.00 and gave the company a “neutral” rating in a research note on Tuesday, October 28th. Piper Sandler lifted their price target on Palantir Technologies from $201.00 to $225.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, Wall Street Zen cut Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, August 30th. Five analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $165.83.

Palantir Technologies Price Performance

Shares of PLTR stock traded down $15.15 on Tuesday, hitting $192.03. The company’s stock had a trading volume of 67,234,366 shares, compared to its average volume of 83,188,063. The stock has a market capitalization of $455.56 billion, a price-to-earnings ratio of 640.11, a P/E/G ratio of 10.87 and a beta of 2.63. Palantir Technologies has a fifty-two week low of $46.86 and a fifty-two week high of $207.52. The firm’s fifty day moving average price is $175.75 and its 200-day moving average price is $151.99.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings results on Monday, November 3rd. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.04. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.09 billion. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%.The firm’s revenue was up 62.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.10 EPS. Palantir Technologies has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. Analysts predict that Palantir Technologies will post 0.31 EPS for the current fiscal year.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider David A. Glazer sold 81,000 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $154.47, for a total value of $12,512,070.00. Following the transaction, the insider directly owned 431,169 shares in the company, valued at $66,602,675.43. The trade was a 15.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ryan D. Taylor sold 36,048 shares of the firm’s stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $158.35, for a total transaction of $5,708,200.80. Following the sale, the insider directly owned 307,470 shares of the company’s stock, valued at approximately $48,687,874.50. The trade was a 10.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 1,527,750 shares of company stock valued at $234,463,896. Corporate insiders own 12.93% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Palantir Technologies by 3.6% during the 2nd quarter. Vanguard Group Inc. now owns 205,717,666 shares of the company’s stock worth $28,043,432,000 after acquiring an additional 7,194,216 shares during the last quarter. State Street Corp grew its stake in shares of Palantir Technologies by 6.9% during the second quarter. State Street Corp now owns 94,481,128 shares of the company’s stock valued at $12,879,667,000 after purchasing an additional 6,097,629 shares during the last quarter. Norges Bank acquired a new stake in shares of Palantir Technologies in the second quarter valued at approximately $3,307,457,000. Invesco Ltd. raised its position in Palantir Technologies by 16.0% in the 2nd quarter. Invesco Ltd. now owns 20,585,256 shares of the company’s stock worth $2,806,182,000 after purchasing an additional 2,838,300 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in Palantir Technologies by 0.3% during the 1st quarter. Northern Trust Corp now owns 19,553,438 shares of the company’s stock worth $1,650,310,000 after buying an additional 64,973 shares in the last quarter. 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.