Cantor Fitzgerald Initiates Coverage on Palantir Technologies (NASDAQ:PLTR)

Equities researchers at Cantor Fitzgerald initiated coverage on shares of Palantir Technologies (NASDAQ:PLTR) in a research report issued on Friday, Marketbeat Ratings reports. The firm set a “neutral” rating and a $72.00 price target on the stock. Cantor Fitzgerald’s target price would suggest a potential upside of 0.32% from the stock’s current price.

A number of other analysts have also commented on the stock. Jefferies Financial Group lowered shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price objective for the company. in a research note on Thursday, November 7th. DA Davidson lifted their price objective on shares of Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Robert W. Baird initiated coverage on Palantir Technologies in a report on Thursday, December 12th. They issued a “neutral” rating and a $70.00 target price for the company. Raymond James downgraded Palantir Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. Finally, UBS Group began coverage on Palantir Technologies in a research note on Thursday, December 19th. They issued a “neutral” rating and a $80.00 price objective for the company. Seven equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Palantir Technologies has an average rating of “Hold” and an average target price of $43.78.

Palantir Technologies Stock Up 3.7 %

Shares of Palantir Technologies stock opened at $71.77 on Friday. The business has a fifty day simple moving average of $70.49 and a 200-day simple moving average of $47.17. Palantir Technologies has a fifty-two week low of $16.03 and a fifty-two week high of $84.80. The firm has a market cap of $163.49 billion, a price-to-earnings ratio of 358.87, a price-to-earnings-growth ratio of 6.24 and a beta of 2.82.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.01. The company had revenue of $725.52 million during the quarter, compared to analyst estimates of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The business’s revenue for the quarter was up 30.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.03 EPS. Analysts anticipate that Palantir Technologies will post 0.2 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Alexander C. Karp sold 3,337,048 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $45.02, for a total transaction of $150,233,900.96. Following the transaction, the insider now owns 6,432,258 shares of the company’s stock, valued at approximately $289,580,255.16. The trade was a 34.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Ryan D. Taylor sold 123,334 shares of the firm’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $45.00, for a total transaction of $5,550,030.00. Following the completion of the sale, the insider now owns 331,369 shares in the company, valued at $14,911,605. This represents a 27.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,642,189 shares of company stock worth $1,444,232,453 in the last quarter. 12.93% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Palantir Technologies

Institutional investors have recently added to or reduced their stakes in the company. State Street Corp grew its holdings in shares of Palantir Technologies by 96.4% during the 3rd quarter. State Street Corp now owns 82,512,440 shares of the company’s stock worth $3,069,463,000 after purchasing an additional 40,498,024 shares in the last quarter. Geode Capital Management LLC boosted its stake in Palantir Technologies by 52.9% during the third quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock worth $1,777,568,000 after buying an additional 16,598,253 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in Palantir Technologies by 5.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,982,925 shares of the company’s stock valued at $557,365,000 after buying an additional 808,444 shares during the period. FMR LLC raised its stake in shares of Palantir Technologies by 8.8% in the 3rd quarter. FMR LLC now owns 12,478,281 shares of the company’s stock valued at $464,192,000 after buying an additional 1,004,603 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Palantir Technologies by 60.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock worth $460,798,000 after acquiring an additional 4,667,955 shares during the period. 45.65% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Company Profile

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.