Palantir Technologies (NASDAQ:PLTR) Receives Buy Rating from DA Davidson

DA Davidson reissued their buy rating on shares of Palantir Technologies (NASDAQ:PLTR) in a research report sent to investors on Friday morning,Benzinga reports. The brokerage currently has a $175.00 price objective on the stock.

Several other research analysts have also recently weighed in on the company. Wolfe Research raised Palantir Technologies from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, June 16th. Wedbush began coverage on Palantir Technologies in a research report on Tuesday, June 16th. They set an “outperform” rating on the stock. Cantor Fitzgerald reiterated a “neutral” rating and set a $138.00 price target on shares of Palantir Technologies in a research note on Friday, May 22nd. Weiss Ratings lowered Palantir Technologies from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, April 27th. Finally, Argus upgraded Palantir Technologies from a “hold” rating to a “buy” rating and set a $190.00 price objective on the stock in a research note on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Palantir Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $190.85.

Palantir Technologies Stock Down 1.5%

PLTR opened at $132.38 on Friday. Palantir Technologies has a twelve month low of $106.37 and a twelve month high of $207.52. The company has a fifty day moving average of $132.20 and a 200-day moving average of $144.30. The stock has a market cap of $317.36 billion, a PE ratio of 148.74, a price-to-earnings-growth ratio of 2.15 and a beta of 1.56.

Palantir Technologies (NASDAQ:PLTR) last announced its earnings results on Monday, May 4th. The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.28 by $0.05. The company had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.54 billion. Palantir Technologies had a return on equity of 28.34% and a net margin of 43.67%.The firm’s revenue for the quarter was up 84.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.13 EPS. Sell-side analysts anticipate that Palantir Technologies will post 1.17 EPS for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 1,598 shares of Palantir Technologies stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $160.00, for a total transaction of $255,680.00. Following the completion of the sale, the director owned 55,022 shares of the company’s stock, valued at $8,803,520. The trade was a 2.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Shyam Sankar sold 35,000 shares of the stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $130.00, for a total transaction of $4,550,000.00. Following the transaction, the insider owned 642,786 shares in the company, valued at $83,562,180. The trade was a 5.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 1,112,270 shares of company stock valued at $150,247,785. 9.53% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Milestone Asset Management LLC increased its holdings in Palantir Technologies by 229.5% during the 4th quarter. Milestone Asset Management LLC now owns 60,551 shares of the company’s stock valued at $10,763,000 after acquiring an additional 42,173 shares in the last quarter. VCI Wealth Management LLC grew its position in shares of Palantir Technologies by 42.3% in the fourth quarter. VCI Wealth Management LLC now owns 12,187 shares of the company’s stock valued at $2,166,000 after purchasing an additional 3,621 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Palantir Technologies by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 215,444,098 shares of the company’s stock worth $38,295,188,000 after purchasing an additional 1,557,828 shares during the last quarter. PFA Pension Forsikringsaktieselskab acquired a new stake in Palantir Technologies during the 4th quarter valued at $222,143,000. Finally, Jefferson Bridge Capital LLC acquired a new stake in Palantir Technologies during the 4th quarter valued at $1,322,000. 45.65% of the stock is owned by institutional investors.

Key Palantir Technologies News

Here are the key news stories impacting Palantir Technologies this week:

• Positive Sentiment: DA Davidson reaffirmed its buy rating on Palantir and set a $175 price target, implying meaningful upside from current levels. This helps reinforce the bullish case after recent volatility. Benzinga article
• Positive Sentiment: Palantir’s partnership with Nvidia on sovereign AI is drawing investor interest and is being framed as a potential long-term growth catalyst, especially as AI infrastructure spending continues. Article
• Positive Sentiment: Palantir CEO Alex Karp has been highlighting the company as one of the key beneficiaries of AI infrastructure demand, which may support the bull thesis that Palantir is becoming a major enterprise AI winner. Article

About Palantir Technologies

Palantir Technologies is a software company that develops data integration, analytics and operational decision-making platforms for government and commercial customers. Founded in 2003 by a team that included Alex Karp and Peter Thiel, Palantir has grown into a provider of enterprise-scale software designed to help organizations integrate disparate data sources, build analytic models and drive operational workflows. The company went public in 2020 and continues to position its products around large, complex data projects where security, provenance and real-time collaboration are important.

Palantir’s product portfolio centers on a small number of core platforms.