Palantir Technologies (NASDAQ:PLTR) Given New $98.00 Price Target at Cantor Fitzgerald

Palantir Technologies (NASDAQ:PLTR) had its target price hoisted by analysts at Cantor Fitzgerald from $72.00 to $98.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Cantor Fitzgerald’s target price suggests a potential upside of 17.03% from the company’s previous close.

PLTR has been the subject of a number of other research reports. Northland Securities lifted their price objective on shares of Palantir Technologies from $38.00 to $80.00 and gave the company a “market perform” rating in a research report on Tuesday. Wedbush lifted their price target on Palantir Technologies from $75.00 to $90.00 and gave the stock an “outperform” rating in a report on Thursday, January 23rd. Bank of America upped their price objective on Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday. Argus cut Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Finally, Jefferies Financial Group boosted their target price on Palantir Technologies from $28.00 to $60.00 and gave the stock an “underperform” rating 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. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $58.56.

Palantir Technologies Stock Up 1.5 %

PLTR stock opened at $83.74 on Tuesday. The company has a market cap of $190.76 billion, a price-to-earnings ratio of 418.72, a P/E/G ratio of 7.54 and a beta of 2.81. Palantir Technologies has a twelve month low of $16.48 and a twelve month high of $85.22. The business has a 50 day moving average price of $73.71 and a two-hundred day moving average price of $51.00.

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 period last year, the business earned $0.03 earnings per share. The firm’s revenue was up 30.0% on a year-over-year basis. On average, equities research analysts anticipate that Palantir Technologies will post 0.19 EPS for the current fiscal year.

Insider Activity

In other Palantir Technologies news, insider Shyam Sankar sold 5,250,000 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 752,786 shares in the company, valued at $52,755,242.88. The trade was a 87.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Stephen Andrew Cohen sold 450,000 shares of the firm’s stock in a transaction 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 completion of the sale, the insider now directly owns 592 shares in the company, valued at approximately $42,002.40. This represents a 99.87 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,153,753 shares of company stock worth $1,287,042,675. Corporate insiders own 12.93% of the company’s stock.

Institutional Trading of Palantir Technologies

Several institutional investors and hedge funds have recently modified their holdings of PLTR. Northwest Investment Counselors LLC acquired a new stake in shares of Palantir Technologies in the 3rd quarter valued at approximately $25,000. Prestige Wealth Management Group LLC boosted its position in Palantir Technologies by 747.1% in the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after buying an additional 650 shares in the last quarter. Roxbury Financial LLC bought a new stake in shares of Palantir Technologies during the fourth quarter worth $27,000. First PREMIER Bank acquired a new position in shares of Palantir Technologies during the fourth quarter worth $28,000. Finally, Wolff Wiese Magana LLC lifted its stake in shares of Palantir Technologies by 230.4% in the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock valued at $29,000 after acquiring an additional 265 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors.

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.