Palantir Technologies (NYSE:PLTR) PT Raised to $23.00 at HSBC

Palantir Technologies (NYSE:PLTR) had its target price upped by investment analysts at HSBC from $22.00 to $23.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has a “hold” rating on the stock. HSBC’s price objective indicates a potential upside of 6.68% from the company’s current price.

A number of other research analysts also recently issued reports on the company. Bank of America upped their price target on Palantir Technologies from $24.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Wedbush reiterated an “outperform” rating and issued a $35.00 price target on shares of Palantir Technologies in a research note on Monday. Citigroup upgraded shares of Palantir Technologies from a “sell” rating to a “neutral” rating and increased their price objective for the company from $10.00 to $20.00 in a research report on Tuesday, February 6th. Mizuho lifted their target price on shares of Palantir Technologies from $18.00 to $21.00 and gave the stock a “neutral” rating in a research report on Thursday, March 7th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Palantir Technologies from $18.00 to $20.00 and gave the company a “sell” rating in a report on Tuesday. Five research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Palantir Technologies presently has a consensus rating of “Hold” and an average price target of $20.65.

Palantir Technologies Stock Performance

Shares of NYSE PLTR opened at $21.56 on Tuesday. The firm’s 50 day moving average price is $23.34 and its 200-day moving average price is $20.35. Palantir Technologies has a 52-week low of $8.65 and a 52-week high of $27.50. The company has a market cap of $47.71 billion, a PE ratio of 239.58, a P/E/G ratio of 5.72 and a beta of 2.76.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings data 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). The business had revenue of $608.35 million during the quarter, compared to the consensus estimate of $603.48 million. Palantir Technologies had a net margin of 9.43% and a return on equity of 6.17%. On average, analysts forecast that Palantir Technologies will post 0.16 earnings per share for the current fiscal year.

Insider Buying and Selling

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 transaction of $440,400.00. Following the completion of the transaction, the director now directly owns 1,595,519 shares of the company’s stock, valued at $35,133,328.38. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, Director Alexander D. Moore sold 20,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $22.02, for a total transaction of $440,400.00. Following 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, Director Alexandra W. Schiff sold 5,000 shares of Palantir Technologies stock in a transaction on Monday, April 1st. The stock was sold at an average price of $22.74, for a total transaction of $113,700.00. Following the completion of the transaction, the director now directly owns 186,783 shares of the company’s stock, valued at $4,247,445.42. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,206,273 shares of company stock worth $178,543,602. Corporate insiders own 13.96% of the company’s stock.

Institutional Investors Weigh In On Palantir Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PLTR. Vanguard Group Inc. boosted its holdings in shares of Palantir Technologies by 11.1% in the 3rd quarter. Vanguard Group Inc. now owns 187,338,667 shares of the company’s stock worth $2,997,419,000 after purchasing an additional 18,756,392 shares during the period. Morgan Stanley increased its position in Palantir Technologies by 26.1% during the third quarter. Morgan Stanley now owns 22,614,555 shares of the company’s stock valued at $361,833,000 after acquiring an additional 4,675,824 shares during the last quarter. KEYWISE CAPITAL MANAGEMENT HK Ltd increased its position in Palantir Technologies by 314.7% during the third quarter. KEYWISE CAPITAL MANAGEMENT HK Ltd now owns 5,285,700 shares of the company’s stock valued at $84,571,000 after acquiring an additional 4,011,100 shares during the last quarter. Quadrature Capital Ltd purchased a new stake in shares of Palantir Technologies in the third quarter valued at $55,719,000. Finally, International Assets Investment Management LLC lifted its holdings in shares of Palantir Technologies by 1,784.0% in the 4th quarter. International Assets Investment Management LLC now owns 2,895,772 shares of the company’s stock worth $49,720,000 after acquiring an additional 2,742,071 shares during the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Palantir Technologies Company Profile

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.