DA Davidson Increases Palantir Technologies (NYSE:PLTR) Price Target to $24.00

Palantir Technologies (NYSE:PLTR) had its price objective hoisted by DA Davidson from $19.00 to $24.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. DA Davidson’s price objective would indicate a potential upside of 11.32% from the stock’s current price. DA Davidson also issued estimates for Palantir Technologies’ FY2025 earnings at $0.25 EPS.

Several other research firms have also weighed in on PLTR. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Palantir Technologies from $18.00 to $20.00 and gave the company a “sell” rating in a report on Tuesday. Raymond James increased their target price on shares of Palantir Technologies from $22.00 to $25.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 6th. Mizuho upped their price target on Palantir Technologies from $18.00 to $21.00 and gave the stock a “neutral” rating in a report on Thursday, March 7th. HSBC lowered Palantir Technologies from a “buy” rating to a “hold” rating and set a $22.00 price objective on the stock. in a report on Wednesday, February 14th. Finally, Citigroup raised Palantir Technologies from a “sell” rating to a “neutral” rating and upped their target price for the stock from $10.00 to $20.00 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 assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $20.65.

Palantir Technologies Stock Performance

Shares of PLTR opened at $21.56 on Tuesday. The business’s 50-day moving average is $23.34 and its two-hundred day moving average is $20.35. The company has a market capitalization of $47.71 billion, a P/E ratio of 239.58, a P/E/G ratio of 5.72 and a beta of 2.76. Palantir Technologies has a fifty-two week low of $8.65 and a fifty-two week high of $27.50.

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

Insider Transactions at Palantir Technologies

In other news, Director Alexander D. Moore sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $22.02, for a total value of $440,400.00. Following the transaction, the director now directly owns 1,595,519 shares of the company’s stock, valued at $35,133,328.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Alexander D. Moore sold 20,000 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $22.02, for a total value of $440,400.00. Following the completion of the sale, the director now owns 1,595,519 shares of the company’s stock, valued at $35,133,328.38. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Shyam Sankar sold 29,168 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $25.00, for a total value of $729,200.00. Following the transaction, the insider now directly owns 752,786 shares in the company, valued at approximately $18,819,650. The disclosure for this sale can be found here. Insiders sold 7,206,273 shares of company stock valued at $178,543,602 over the last 90 days. 13.96% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Palantir Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the company. Entropy Technologies LP acquired a new position in Palantir Technologies in the 1st quarter valued at about $759,000. Sheets Smith Wealth Management acquired a new stake in shares of Palantir Technologies during the 1st quarter worth approximately $440,000. ProShare Advisors LLC purchased a new stake in shares of Palantir Technologies during the 1st quarter valued at approximately $262,000. US Bancorp DE lifted its holdings in Palantir Technologies by 15.9% in the first quarter. US Bancorp DE now owns 198,930 shares of the company’s stock valued at $4,577,000 after acquiring an additional 27,322 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its position in Palantir Technologies by 6.7% in the first quarter. Russell Investments Group Ltd. now owns 400,091 shares of the company’s stock worth $9,300,000 after acquiring an additional 25,258 shares during the period. 45.65% of the stock is currently 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.