Citigroup Raises Palantir Technologies (NYSE:PLTR) Price Target to $25.00

Palantir Technologies (NYSE:PLTR) had its target price raised by investment analysts at Citigroup from $23.00 to $25.00 in a report released on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Citigroup’s target price indicates a potential upside of 15.79% from the stock’s previous close.

PLTR has been the topic of several other research reports. Jefferies Financial Group upgraded Palantir Technologies from an “underperform” rating to a “hold” rating and increased their price target for the company from $13.00 to $22.00 in a report on Tuesday, February 6th. William Blair restated an “underperform” rating on shares of Palantir Technologies in a report on Tuesday. Raymond James increased their price target on Palantir Technologies from $22.00 to $25.00 and gave the company an “outperform” rating in a report on Tuesday, February 6th. HSBC increased their price target on Palantir Technologies from $22.00 to $23.00 and gave the company a “hold” rating in a report on Tuesday. Finally, Wedbush restated an “outperform” rating and set a $35.00 price target on shares of Palantir Technologies in a report on Monday. Five analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Palantir Technologies currently has an average rating of “Hold” and an average target price of $20.65.

Palantir Technologies Stock Performance

Shares of PLTR traded down $3.62 during mid-day trading on Tuesday, hitting $21.59. 129,428,888 shares of the stock were exchanged, compared to its average volume of 63,236,445. The company has a market cap of $47.77 billion, a PE ratio of 239.92, a price-to-earnings-growth ratio of 5.72 and a beta of 2.76. Palantir Technologies has a 52-week low of $7.59 and a 52-week high of $27.50. The firm has a 50-day moving average of $23.36 and a two-hundred day moving average of $20.25.

Palantir Technologies (NYSE:PLTR) last released 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. On average, sell-side analysts predict that Palantir Technologies will post 0.16 EPS for the current year.

Insider Transactions at Palantir Technologies

In related news, Director Alexander D. Moore sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Palantir Technologies news, insider Shyam Sankar sold 29,168 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $25.00, for a total value of $729,200.00. Following the completion of the sale, the insider now directly owns 752,786 shares in the company, valued at $18,819,650. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Alexander D. Moore sold 20,000 shares of the 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 completion of the sale, the director now owns 1,595,519 shares of the company’s stock, valued at $35,133,328.38. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,356,273 shares of company stock valued at $182,143,602. 13.96% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Palantir Technologies by 3.5% in the fourth quarter. Vanguard Group Inc. now owns 193,805,263 shares of the company’s stock worth $3,327,636,000 after purchasing an additional 6,466,596 shares during the last quarter. Morgan Stanley raised 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 in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in Palantir Technologies by 15.7% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 14,571,224 shares of the company’s stock valued at $335,284,000 after acquiring an additional 1,980,495 shares in the last quarter. Northern Trust Corp raised its position in Palantir Technologies by 5.5% during the third quarter. Northern Trust Corp now owns 11,498,685 shares of the company’s stock valued at $183,979,000 after acquiring an additional 601,012 shares in the last quarter. Finally, ARK Investment Management LLC raised its position in Palantir Technologies by 16.1% during the fourth quarter. ARK Investment Management LLC now owns 10,937,859 shares of the company’s stock valued at $187,803,000 after acquiring an additional 1,514,232 shares in the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

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.