Palantir Technologies (NYSE:PLTR) Price Target Increased to $25.00 by Analysts at Citigroup

Palantir Technologies (NYSE:PLTR) had its price target increased by Citigroup from $23.00 to $25.00 in a research report sent to investors on Tuesday, Benzinga reports. They currently have a neutral rating on the stock.

Several other analysts have also issued reports on the stock. William Blair restated an underperform rating on shares of Palantir Technologies in a report on Tuesday. Raymond James boosted their price target on shares of Palantir Technologies from $22.00 to $25.00 and gave the company an outperform rating in a research note on Tuesday, February 6th. Royal Bank of Canada increased their price objective on shares of Palantir Technologies from $5.00 to $9.00 and gave the stock an underperform rating in a research report on Tuesday. Wedbush reiterated an outperform rating and issued a $35.00 target price on shares of Palantir Technologies in a report on Monday. Finally, Jefferies Financial Group upgraded Palantir Technologies from an underperform rating to a hold rating and upped their price target for the stock from $13.00 to $22.00 in a research note on Tuesday, February 6th. Five investment analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of Hold and an average target price of $20.65.

Palantir Technologies Price Performance

Shares of NYSE PLTR opened at $21.41 on Tuesday. The company has a market capitalization of $47.36 billion, a P/E ratio of 237.86, a P/E/G ratio of 5.72 and a beta of 2.76. The company has a 50 day simple moving average of $23.40 and a 200-day simple moving average of $20.31. Palantir Technologies has a 1 year low of $7.59 and a 1 year high of $27.50.

Palantir Technologies (NYSE:PLTR) last posted its earnings results on Monday, February 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.01). Palantir Technologies had a return on equity of 6.17% and a net margin of 9.43%. The business had revenue of $608.35 million for the quarter, compared to analyst estimates of $603.48 million. As a group, research analysts expect that Palantir Technologies will post 0.16 EPS for the current year.

Insider Buying and Selling

In other news, insider Heather A. Planishek sold 32,828 shares of Palantir Technologies stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $25.95, for a total value of $851,886.60. Following the completion of the transaction, the insider now owns 662,006 shares in the company, valued at approximately $17,179,055.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Heather A. Planishek sold 32,828 shares of the firm’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $25.95, for a total value of $851,886.60. Following the sale, the insider now directly owns 662,006 shares in the company, valued at approximately $17,179,055.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Alexander D. Moore sold 20,000 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $22.02, for a total transaction of $440,400.00. Following the transaction, the director now owns 1,595,519 shares of the company’s stock, valued at approximately $35,133,328.38. The disclosure for this sale can be found here. Insiders sold 7,356,273 shares of company stock valued at $182,143,602 in the last three months. 13.96% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Palantir Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Qsemble Capital Management LP acquired a new stake in Palantir Technologies during the first quarter worth approximately $593,000. Donoghue Forlines LLC raised its stake in Palantir Technologies by 29.7% during the 1st quarter. Donoghue Forlines LLC now owns 21,065 shares of the company’s stock worth $485,000 after acquiring an additional 4,822 shares in the last quarter. Verus Capital Partners LLC raised its stake in Palantir Technologies by 51.3% during the 1st quarter. Verus Capital Partners LLC now owns 45,607 shares of the company’s stock worth $1,049,000 after acquiring an additional 15,460 shares in the last quarter. Meeder Advisory Services Inc. lifted its position in Palantir Technologies by 5.1% in the first quarter. Meeder Advisory Services Inc. now owns 19,938 shares of the company’s stock valued at $459,000 after acquiring an additional 965 shares during the last quarter. Finally, Sfmg LLC boosted its stake in Palantir Technologies by 12.1% in the first quarter. Sfmg LLC now owns 57,598 shares of the company’s stock valued at $1,325,000 after acquiring an additional 6,229 shares in the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

About Palantir Technologies

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. The company provides Palantir Gotham, a software platform which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.