Palantir Technologies (NYSE:PLTR) Price Target Raised to $44.00 at Mizuho

Palantir Technologies (NYSE:PLTR) had its price objective hoisted by Mizuho from $37.00 to $44.00 in a research report report published on Friday morning,Benzinga reports. They currently have an underperform rating on the stock.

PLTR has been the topic of a number of other reports. Northland Securities boosted their target price on shares of Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 5th. Robert W. Baird assumed coverage on shares of Palantir Technologies in a report on Thursday. They issued a “neutral” rating and a $70.00 price objective on the stock. Raymond James downgraded Palantir Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. William Blair reaffirmed an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 4th. Finally, Northland Capmk raised Palantir Technologies to a “hold” rating in a report on Thursday, August 22nd. Six research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, Palantir Technologies has a consensus rating of “Hold” and a consensus target price of $38.40.

Palantir Technologies Price Performance

NYSE:PLTR opened at $76.07 on Friday. The business’s 50-day moving average is $55.75 and its two-hundred day moving average is $38.39. The firm has a market capitalization of $173.29 billion, a PE ratio of 380.35, a price-to-earnings-growth ratio of 9.70 and a beta of 2.87. Palantir Technologies has a 12 month low of $15.66 and a 12 month high of $80.91.

Palantir Technologies (NYSE:PLTR) last posted its earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) 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 analyst estimates of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The company’s revenue for the quarter was up 30.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.03 earnings per share. Equities analysts anticipate that Palantir Technologies will post 0.21 EPS for the current year.

Insider Activity

In other news, insider Stephen Andrew Cohen sold 450,000 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $70.95, for a total transaction of $31,927,500.00. Following the transaction, the insider now directly owns 592 shares of the company’s stock, valued at approximately $42,002.40. This trade represents a 99.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Shyam Sankar sold 5,250,000 shares of Palantir Technologies stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $70.08, for a total transaction of $367,920,000.00. Following the sale, the insider now owns 752,786 shares in the company, valued at approximately $52,755,242.88. This represents a 87.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 40,118,366 shares of company stock valued at $2,029,875,392. Insiders own 12.93% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PLTR. Lord Abbett & CO. LLC raised its holdings in shares of Palantir Technologies by 943.2% in the 3rd quarter. Lord Abbett & CO. LLC now owns 3,300,766 shares of the company’s stock worth $122,788,000 after purchasing an additional 2,984,348 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its holdings in shares of Palantir Technologies by 26.4% in the third quarter. B. Riley Wealth Advisors Inc. now owns 214,157 shares of the company’s stock worth $8,116,000 after buying an additional 44,768 shares during the period. Retirement Systems of Alabama acquired a new position in Palantir Technologies in the 3rd quarter worth approximately $16,372,000. Oddo BHF Asset Management Sas purchased a new position in shares of Palantir Technologies during the third quarter valued at $631,000. Finally, Beaird Harris Wealth Management LLC grew its stake in Palantir Technologies by 1,736.1% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 31,085 shares of the company’s stock valued at $1,156,000 after acquiring an additional 29,392 shares in 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.