Royal Bank of Canada Increases Palantir Technologies Price Target to $15.00

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Palantir Technologies (NYSE:PLTR) had its price objective hoisted by research analysts at Royal Bank of Canada from $11.00 to $15.00 in a note issued to investors on Friday, The Fly reports. Royal Bank of Canada’s price objective points to a potential downside of 5.06% from the company’s current price.

PLTR has been the topic of several other reports. Credit Suisse Group initiated coverage on shares of Palantir Technologies in a report on Monday, October 26th. They issued a “neutral” rating and a $11.00 price target on the stock. Smith Barney Citigroup initiated coverage on shares of Palantir Technologies in a report on Tuesday, October 27th. They issued a “neutral” rating and a $10.00 price target on the stock. Jefferies Financial Group upped their price target on shares of Palantir Technologies from $13.00 to $18.00 and gave the company a “buy” rating in a report on Friday. The Goldman Sachs Group initiated coverage on shares of Palantir Technologies in a report on Monday, October 26th. They issued a “neutral” rating and a $10.00 price target on the stock. Finally, Morgan Stanley lowered shares of Palantir Technologies from an “overweight” rating to an “equal weight” rating and set a $15.00 price target on the stock. in a report on Friday. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. Palantir Technologies presently has a consensus rating of “Hold” and a consensus price target of $13.17.

Palantir Technologies (NYSE:PLTR) last released its earnings results on Thursday, November 12th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.07. The firm had revenue of $289.37 million during the quarter, compared to analyst estimates of $279.32 million. During the same period in the previous year, the company earned ($0.16) earnings per share. Palantir Technologies’s revenue was up 51.9% on a year-over-year basis.
In related news, CEO Alexander C. Karp sold 11,500,000 shares of the firm’s stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $9.70, for a total value of $111,550,000.00. Following the transaction, the chief executive officer now directly owns 6,426,496 shares of the company’s stock, valued at approximately $62,337,011.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Shyam Sankar sold 1,405,715 shares of the firm’s stock in a transaction dated Wednesday, September 30th. The shares were sold at an average price of $10.12, for a total transaction of $14,225,835.80. Following the completion of the transaction, the chief operating officer now directly owns 5,666,667 shares in the company, valued at $57,346,670.04. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,385,740 shares of company stock worth $169,948,219.

Institutional investors have recently modified their holdings of the stock. Jacobi Capital Management LLC purchased a new position in Palantir Technologies in the 3rd quarter valued at about $28,000. IFP Advisors Inc purchased a new position in Palantir Technologies in the 3rd quarter valued at about $36,000. D Orazio & Associates Inc. purchased a new position in Palantir Technologies in the 3rd quarter valued at about $36,000. Edge Wealth Management LLC acquired a new stake in Palantir Technologies in the 3rd quarter valued at about $38,000. Finally, NEXT Financial Group Inc acquired a new stake in Palantir Technologies in the 3rd quarter valued at about $54,000.

About Palantir Technologies

Palantir Technologies Inc builds and deploys software platforms for the intelligence community in the United States to assist in counterterrorism investigations and operations. It offers Palantir Gotham, a software platform for government operatives in the defense and intelligence sectors, 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.

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