Palantir Technologies (NYSE:PLTR) Given New $44.00 Price Target at Mizuho

Palantir Technologies (NYSE:PLTR) had its price target boosted by equities researchers at Mizuho from $37.00 to $44.00 in a research note issued on Friday,Benzinga reports. The firm presently has an “underperform” rating on the stock. Mizuho’s target price indicates a potential downside of 42.16% from the stock’s current price.

PLTR has been the subject of a number of other reports. Raymond James downgraded Palantir Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. Jefferies Financial Group downgraded Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price objective on the stock. in a report on Thursday, November 7th. Bank of America boosted their target price on Palantir Technologies from $55.00 to $75.00 and gave the stock a “buy” rating in a report on Monday, November 25th. The Goldman Sachs Group raised their price target on shares of Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, William Blair reiterated an “underperform” rating on shares of Palantir Technologies in a research note on Wednesday, December 4th. Six investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Palantir Technologies currently has an average rating of “Hold” and a consensus target price of $38.40.

Palantir Technologies Price Performance

PLTR opened at $76.07 on Friday. Palantir Technologies has a 12 month low of $15.66 and a 12 month high of $80.91. The business has a 50-day moving average of $55.75 and a two-hundred day moving average of $38.51. The stock has a market capitalization of $173.29 billion, a price-to-earnings ratio of 380.35, a price-to-earnings-growth ratio of 9.70 and a beta of 2.87.

Palantir Technologies (NYSE:PLTR) last released its earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.01. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The business had revenue of $725.52 million for the quarter, compared to analysts’ expectations of $705.11 million. During the same period last year, the company earned $0.03 earnings per share. The company’s quarterly revenue was up 30.0% on a year-over-year basis. Equities research analysts anticipate that Palantir Technologies will post 0.21 earnings per share for the current year.

Insider Activity

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 6,000 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $36.35, for a total transaction of $218,100.00. Following the transaction, the director now directly owns 152,280 shares in the company, valued at $5,535,378. This represents a 3.79 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Alexander C. Karp sold 4,500,000 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $36.07, for a total transaction of $162,315,000.00. Following the completion of the sale, the insider now directly owns 6,432,258 shares of the company’s stock, valued at $232,011,546.06. The trade was a 41.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 40,118,366 shares of company stock worth $2,029,875,392 over the last ninety days. Corporate insiders own 12.93% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

Large investors have recently modified their holdings of the stock. Northwest Investment Counselors LLC acquired a new stake in Palantir Technologies during the third quarter valued at approximately $25,000. Prestige Wealth Management Group LLC raised its position in shares of Palantir Technologies by 747.1% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after acquiring an additional 650 shares in the last quarter. Summit Securities Group LLC acquired a new stake in shares of Palantir Technologies during the 2nd quarter valued at approximately $25,000. Farmers & Merchants Investments Inc. bought a new position in Palantir Technologies during the second quarter worth $25,000. Finally, Creekmur Asset Management LLC boosted its holdings in Palantir Technologies by 46.0% in the third quarter. Creekmur Asset Management LLC now owns 1,063 shares of the company’s stock worth $40,000 after purchasing an additional 335 shares during the period. Institutional investors own 45.65% of the company’s stock.

Palantir Technologies Company Profile

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. The company provides Palantir Gotham, a software platform 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.