Mizuho Boosts Palantir Technologies (NYSE:PLTR) Price Target to $30.00

Palantir Technologies (NYSE:PLTR) had its target price boosted by Mizuho from $24.00 to $30.00 in a research report report published on Thursday morning, Benzinga reports. They currently have an underperform rating on the stock.

A number of other brokerages also recently weighed in on PLTR. Northland Capmk raised shares of Palantir Technologies to a “hold” rating in a report on Thursday, August 22nd. Jefferies Financial Group lifted their target price on Palantir Technologies from $24.00 to $28.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Raymond James cut Palantir Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. Citigroup raised their price objective on Palantir Technologies from $25.00 to $28.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Finally, Bank of America boosted their price objective on Palantir Technologies from $30.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Five investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $27.86.

Palantir Technologies Stock Performance

Palantir Technologies stock opened at $42.97 on Thursday. Palantir Technologies has a 52 week low of $14.48 and a 52 week high of $44.39. The firm has a market capitalization of $96.23 billion, a PE ratio of 252.78 and a beta of 2.72. The business’s 50-day simple moving average is $35.60 and its 200-day simple moving average is $28.10.

Palantir Technologies (NYSE:PLTR) last released its earnings results on Monday, August 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. The business had revenue of $678.13 million during the quarter, compared to analyst estimates of $653.23 million. During the same period last year, the business earned $0.01 EPS. The business’s quarterly revenue was up 27.2% compared to the same quarter last year. Research analysts forecast that Palantir Technologies will post 0.19 earnings per share for the current year.

Insider Activity

In related news, Director Lauren Elaina Friedman Stat sold 3,050 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $26.43, for a total transaction of $80,611.50. Following the completion of the sale, the director now owns 65,989 shares in the company, valued at $1,744,089.27. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Lauren Elaina Friedman Stat sold 3,050 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $26.43, for a total transaction of $80,611.50. Following the sale, the director now directly owns 65,989 shares in the company, valued at $1,744,089.27. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ryan D. Taylor sold 249,684 shares of Palantir Technologies stock in a transaction on Friday, August 9th. The shares were sold at an average price of $30.01, for a total value of $7,493,016.84. Following the completion of the transaction, the insider now owns 372,565 shares of the company’s stock, valued at approximately $11,180,675.65. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 17,747,176 shares of company stock worth $646,951,347. Corporate insiders own 12.93% of the company’s stock.

Institutional Investors Weigh In On Palantir Technologies

Hedge funds have recently added to or reduced their stakes in the stock. EP Wealth Advisors LLC grew its stake in shares of Palantir Technologies by 25.1% during the fourth quarter. EP Wealth Advisors LLC now owns 16,516 shares of the company’s stock valued at $284,000 after purchasing an additional 3,316 shares during the last quarter. Fisher Asset Management LLC acquired a new stake in shares of Palantir Technologies in the 4th quarter valued at $727,000. PNC Financial Services Group Inc. increased its stake in shares of Palantir Technologies by 11.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 57,069 shares of the company’s stock valued at $980,000 after buying an additional 5,759 shares during the period. NBC Securities Inc. raised its position in shares of Palantir Technologies by 112.2% during the first quarter. NBC Securities Inc. now owns 2,534 shares of the company’s stock worth $58,000 after acquiring an additional 1,340 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Palantir Technologies by 37.0% during the first quarter. GAMMA Investing LLC now owns 2,809 shares of the company’s stock valued at $65,000 after acquiring an additional 758 shares during the period. Institutional investors own 45.65% of the company’s stock.

About Palantir Technologies

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.