Shares of Palantir Technologies Inc. (PLTR) experienced a significant boost, rising by 6.5% during Monday’s trading session. This surge was triggered by Mizuho, an equity research firm, increasing their price target for the stock from $8.00 to $14.00. The stock reached a high of $17.53 before settling at $17.46. The trading volume was 39% lower than the average, with 34,531,410 shares changing hands. The previous closing price of the stock was $16.40.

Analyst Reports and Ratings

Various other equities research analysts have also provided their insights on Palantir Technologies. Deutsche Bank Aktiengesellschaft raised their price target from $6.00 to $7.00 in a report released on May 9th. On June 5th, Jefferies Financial Group released a report, raising their price target from $10.00 to $14.00. Meanwhile, Raymond James downgraded the stock from a “strong-buy” rating to an “outperform” rating but raised their price target from $15.00 to $18.00 in a report on June 20th. On March 27th, William Blair reaffirmed their “underperform” rating for Palantir Technologies’ shares. Bank of America also raised their price objective from $13.00 to $18.00 and provided a “buy” rating on June 12th. Overall, Palantir Technologies has received a consensus “Hold” rating, with an average price target of $10.06, according to STA Research.

Insider Buying and Selling

Director Alexander D. Moore was involved in significant trading activities related to Palantir Technologies. On May 1st, Moore sold 21,900 shares at an average price of $7.74, totaling $169,506.00. Following this transaction, Moore’s direct ownership of the company’s stock amounted to 1,858,152 shares, valued at approximately $14,382,096.48. Another sale occurred on July 3rd, where Moore sold 37,076 shares at an average price of $15.38, resulting in a transaction value of $570,228.88. After this sale, the director owned 1,808,819 shares, worth $27,819,636.22. Overall, insiders have sold a total of 1,959,599 shares of Palantir Technologies, equivalent to $27,683,472, representing 13.96% of the company’s stock ownership.

Institutional Trading

Several hedge funds have made adjustments to their positions in Palantir Technologies. Close Asset Management Ltd, Manchester Capital Management LLC, Resurgent Financial Advisors LLC, Laffer Tengler Investments, and HHM Wealth Advisors LLC are among the hedge funds that have recently acquired or reduced their stakes in PLTR. These holdings reflect 31.57% of the stock, demonstrating institutional investors’ interest in the company.

Stock Performance and Financials

Palantir Technologies’ stock has shown a 6.1% increase and has been performing well recently. Its 50-day simple moving average stands at $13.99, while the two-hundred day simple moving average is $10.02. The company holds a market capitalization of $36.84 billion, with a price-to-earnings ratio of -133.69 and a PEG ratio of 5.77. The stock’s beta is 2.69, indicating higher volatility compared to the market average.

Quarterly Earnings Report

In its most recent quarterly earnings report released on May 8th, Palantir Technologies announced earnings per share of $0.01. During the quarter, the company’s revenue reached an impressive $525.19 million, exceeding the predicted figure of $504.84 million as anticipated by analysts. However, Palantir Technologies had a negative net margin of 12.88% and a negative return on equity of 12.48%. Analysts predict that the company will post an EPS of 0.05 for the current year.

Overall, the positive outlook from analysts and the recent insider trading activities have fueled investor confidence, leading to the surge in Palantir Technologies’ stock price.