Palantir Technologies (NASDAQ: PLTR) received a significant boost in its price target from Daiwa Capital Markets, which raised the estimate from $178.00 to $200.00 in a report published on November 3, 2023. Daiwa Capital Markets maintains a neutral rating on the stock, reflecting a cautious but optimistic outlook on the company’s performance.
Several other financial analysts have also adjusted their price targets for Palantir. Northland Securities increased its target from $14.00 to $18.50, while DA Davidson raised its price objective from $170.00 to $215.00, also assigning a neutral rating. Citigroup followed suit, elevating its price objective from $190.00 to $210.00, with a neutral stance as well. Additionally, Raymond James Financial reiterated a market perform rating, and Cantor Fitzgerald lifted its target from $155.00 to $198.00.
The consensus among analysts shows a mix of ratings: five analysts have issued a Buy rating, sixteen have a Hold rating, and two have recommended selling the stock. According to data from MarketBeat.com, Palantir currently holds an average rating of Hold with a consensus price target of $173.45.
Recent Earnings and Financial Performance
Palantir Technologies recently released its earnings results for the third quarter, reporting earnings per share of $0.21, surpassing the consensus estimate of $0.17 by $0.04. The company generated revenue of $1.18 billion, exceeding analysts’ expectations of $1.09 billion. This represents an impressive year-over-year revenue increase of 62.8%, up from $0.10 earnings per share reported in the same quarter last year.
For the fiscal year 2025, Palantir has set guidance targeting earnings per share, with analysts expecting an average EPS of $0.31 for the current fiscal year.
Insider Trading Activity
In related developments, insider trading activity has been notable at Palantir. On September 2, insider David A. Glazer sold 81,000 shares at an average price of $154.47, yielding a total of $12,512,070.00. Following this transaction, Glazer holds 431,169 shares valued at approximately $66.6 million, reflecting a 15.82% decrease in his ownership.
Additionally, director Lauren Elaina Friedman Stat sold 800 shares on October 3 at an average price of $186.39, totaling $149,112.00. Post-sale, she retains 62,087 shares, valued at around $11.57 million, indicating a 1.27% reduction in her stake. In total, insiders have sold 1,527,750 shares worth $234,463,896 over the past ninety days, and insiders currently own 9.23% of the company.
Institutional Investors’ Activity
Recent shifts in institutional investment highlight growing interest in Palantir. King Luther Capital Management Corp increased its holdings by 8.1% in the third quarter, now owning 76,964 shares valued at $14.04 million. Avestar Capital LLC also raised its position by 4.9%, acquiring 29,739 shares valued at $5.43 million.
Other notable movements include Keyvantage Wealth LLC, which purchased a new stake valued at approximately $386,000, and Synovus Financial Corp, which grew its holdings by 5.9%, now owning 21,871 shares worth $3.99 million. NewEdge Wealth LLC increased its position by 58.4%, now holding 39,692 shares valued at $7.46 million. Collectively, institutional investors and hedge funds now own 45.65% of Palantir’s stock.
Palantir Technologies continues to make significant strides in the technology sector, focusing on software solutions for both commercial and government clients. As the company navigates a dynamic market, analyst ratings and insider activities will be critical indicators of its future trajectory.
