Mizuho Boosts Palantir Technologies (NYSE:PLTR) Price Target to $37.00

Palantir Technologies (NYSE:PLTR) had its target price raised by stock analysts at Mizuho from $30.00 to $37.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has an “underperform” rating on the stock. Mizuho’s price target would suggest a potential downside of 33.34% from the company’s previous close.

Other research analysts also recently issued reports about the stock. Citigroup raised their price target on shares of Palantir Technologies from $25.00 to $28.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Wedbush upped their target price on Palantir Technologies from $38.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. Deutsche Bank Aktiengesellschaft increased their price target on Palantir Technologies from $20.00 to $21.00 and gave the stock a “sell” rating in a research report on Tuesday, August 6th. Northland Securities boosted their price objective on Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a research report on Tuesday. Finally, Royal Bank of Canada reiterated an “underperform” rating and issued a $9.00 target price on shares of Palantir Technologies in a research note on Tuesday, August 6th. Five analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $29.93.

Palantir Technologies Stock Up 8.6 %

Shares of Palantir Technologies stock opened at $55.51 on Tuesday. The business has a 50-day moving average price of $38.60 and a 200 day moving average price of $29.97. Palantir Technologies has a fifty-two week low of $15.66 and a fifty-two week high of $55.69. The firm has a market cap of $124.30 billion, a P/E ratio of 277.53 and a beta of 2.70.

Palantir Technologies (NYSE:PLTR) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The business had revenue of $725.52 million during the quarter, compared to the consensus estimate of $705.11 million. Palantir Technologies had a return on equity of 10.41% and a net margin of 18.01%. The business’s quarterly revenue was up 30.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.03 EPS. As a group, equities research analysts anticipate that Palantir Technologies will post 0.19 earnings per share for the current year.

Insider Buying and Selling at Palantir Technologies

In other news, insider Alexander C. Karp sold 3,337,048 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $45.02, for a total value of $150,233,900.96. Following the completion of the sale, the insider now directly owns 6,432,258 shares of the company’s stock, valued at approximately $289,580,255.16. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Alexander C. Karp sold 3,337,048 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $45.02, for a total transaction of $150,233,900.96. Following the sale, the insider now owns 6,432,258 shares of the company’s stock, valued at $289,580,255.16. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ryan D. Taylor sold 249,684 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $30.01, for a total value of $7,493,016.84. Following the completion of the sale, the insider now owns 372,565 shares of the company’s stock, valued at $11,180,675.65. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,204,508 shares of company stock valued at $802,654,666. Company insiders own 12.93% of the company’s stock.

Institutional Investors Weigh In On Palantir Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Adero Partners LLC grew its stake in shares of Palantir Technologies by 3.2% in the 3rd quarter. Adero Partners LLC now owns 15,064 shares of the company’s stock worth $560,000 after purchasing an additional 467 shares during the last quarter. Mutual of America Capital Management LLC bought a new stake in Palantir Technologies during the third quarter worth approximately $9,212,000. WESPAC Advisors SoCal LLC acquired a new position in Palantir Technologies in the third quarter worth approximately $242,000. Straight Path Wealth Management increased its holdings in shares of Palantir Technologies by 14.0% in the third quarter. Straight Path Wealth Management now owns 34,603 shares of the company’s stock valued at $1,287,000 after buying an additional 4,253 shares in the last quarter. Finally, LJI Wealth Management LLC lifted its position in shares of Palantir Technologies by 2.4% during the 3rd quarter. LJI Wealth Management LLC now owns 41,784 shares of the company’s stock valued at $1,554,000 after acquiring an additional 969 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors.

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.