Palantir Technologies (NASDAQ:PLTR) Stock Picked Up by Analysts at Fubon

Stock analysts at Fubon started coverage on shares of Palantir Technologies (NASDAQ:PLTR) in a research report issued on Tuesday, FinViz reports. The brokerage set a “buy” rating and a $200.00 price target on the stock. Fubon‘s price target would indicate a potential upside of 19.05% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the company. Piper Sandler reiterated an “overweight” rating and set a $235.00 price objective (up from $231.00) on shares of Palantir Technologies in a research note on Tuesday, November 3rd. The Goldman Sachs Group reissued a “buy” rating and issued a $235.00 target price on shares of Palantir Technologies in a research note on Tuesday, November 3rd. Needham & Company LLC set a $215.00 target price on shares of Palantir Technologies in a report on Tuesday, August 11th. Weiss Ratings raised shares of Palantir Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, October 23rd. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of Palantir Technologies in a research report on Wednesday, November 4th. One analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Palantir Technologies currently has an average rating of “Moderate Buy” and an average target price of $216.20.

Palantir Technologies Trading Down 2.1%

Shares of NASDAQ PLTR traded down $3.59 during mid-day trading on Tuesday, hitting $167.99. The company had a trading volume of 15,160,139 shares, compared to its average volume of 40,742,707. The firm has a 50-day simple moving average of $185.08 and a two-hundred day simple moving average of $153.81. The company has a market capitalization of $403.69 billion, a PE ratio of 117.48, a price-to-earnings-growth ratio of 3.48 and a beta of 1.65. Palantir Technologies has a one year low of $106.37 and a one year high of $212.94.

Palantir Technologies (NASDAQ:PLTR) last released its earnings results on Monday, November 2nd. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.03. Palantir Technologies had a return on equity of 30.49% and a net margin of 50.34%. The business had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.18 billion. During the same quarter in the prior year, the company posted $0.21 earnings per share. Palantir Technologies’s revenue was up 95.9% on a year-over-year basis. Sell-side analysts expect that Palantir Technologies will post 1.36 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Lauren Friedman Stat sold 1,358 shares of the stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $186.29, for a total value of $252,981.82. Following the sale, the director owned 45,044 shares in the company, valued at approximately $8,391,246.76. This represents a 2.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeffrey Buckley sold 1,250 shares of the stock in a transaction on Friday, August 21st. The shares were sold at an average price of $174.29, for a total value of $217,862.50. Following the completion of the sale, the insider owned 56,921 shares in the company, valued at approximately $9,920,761.09. This trade represents a 2.15% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 523,716 shares of company stock valued at $92,212,379. Insiders own 9.53% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Signature Wealth Management Partners LLC grew its position in shares of Palantir Technologies by 1.0% in the third quarter. Signature Wealth Management Partners LLC now owns 5,140 shares of the company’s stock valued at $961,000 after purchasing an additional 51 shares during the last quarter. Atlatl Advisers LLC lifted its holdings in Palantir Technologies by 0.4% during the 3rd quarter. Atlatl Advisers LLC now owns 13,174 shares of the company’s stock worth $2,464,000 after purchasing an additional 53 shares during the last quarter. Opinicus Capital Inc. lifted its holdings in Palantir Technologies by 2.4% during the 3rd quarter. Opinicus Capital Inc. now owns 2,276 shares of the company’s stock worth $426,000 after purchasing an additional 53 shares during the last quarter. Demars Financial Group LLC lifted its holdings in Palantir Technologies by 2.7% during the 3rd quarter. Demars Financial Group LLC now owns 2,054 shares of the company’s stock worth $384,000 after purchasing an additional 54 shares during the last quarter. Finally, PFS Partners LLC boosted its stake in Palantir Technologies by 28.9% in the 3rd quarter. PFS Partners LLC now owns 250 shares of the company’s stock valued at $47,000 after purchasing an additional 56 shares during the period. 45.65% of the stock is owned by institutional investors.

Top Palantir Technologies Stories

Here are a few of the latest stories about PLTR:

• Negative Sentiment: Valuation is a key concern: bearish commentary says the share price leaves little room for error, even given Palantir’s exceptional business growth. Investors may be demanding continued rapid growth to justify the premium. Article: Palantir: Exceptional Business, Unjustifiable Price
• Negative Sentiment: Investors are also focused on deceleration in contract-related growth indicators versus the previous quarter, which may raise questions about future demand. A planned sale of 84,680 shares by CTO Shyam Sankar—and another recent planned sale filing—could add to negative sentiment, though insider sales do not necessarily signal a lack of confidence. Article: Why Palantir Technologies Stock Is Down
• Negative Sentiment: ARK Invest reportedly trimmed its Palantir position while buying another AI-related stock. The move may reinforce concerns about investor rotation away from richly valued AI names, although it reflects one fund’s portfolio decision. Article: Cathie Wood Is Buying CoreWeave and Selling Palantir

Palantir Technologies Company Profile

Palantir Technologies is a software company that develops platforms for integrating, analyzing and using data to support operational decisions. Its products are designed to help organizations work with large, complex datasets while managing access and security. The company’s platforms include Gotham, used primarily by government and intelligence customers; Foundry, designed for commercial and other organizations; Apollo, which supports the deployment and management of software; and Artificial Intelligence Platform (AIP), which helps organizations use artificial intelligence with their data and operations.