Mizuho Increases Palantir Technologies (NASDAQ:PLTR) Price Target to $80.00

Palantir Technologies (NASDAQ:PLTR) had its price objective raised by Mizuho from $44.00 to $80.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has an “underperform” rating on the stock. Mizuho’s price objective indicates a potential downside of 21.07% from the stock’s previous close.

Several other research analysts also recently commented on the company. Morgan Stanley raised Palantir Technologies from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $60.00 to $95.00 in a research note on Tuesday. Jefferies Financial Group downgraded shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price target on the stock. in a research note on Thursday, November 7th. Baird R W raised shares of Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. William Blair reissued an “underperform” rating on shares of Palantir Technologies in a research note on Wednesday, December 18th. Finally, 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. Six equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Palantir Technologies currently has an average rating of “Hold” and a consensus target price of $69.44.

Palantir Technologies Stock Down 2.4 %

PLTR opened at $101.36 on Tuesday. The company has a market cap of $230.90 billion, a PE ratio of 506.83, a price-to-earnings-growth ratio of 7.54 and a beta of 2.81. Palantir Technologies has a twelve month low of $19.76 and a twelve month high of $106.91. The company has a 50-day moving average price of $74.85 and a 200 day moving average price of $51.92.

Palantir Technologies (NASDAQ:PLTR) last announced its earnings results on Monday, November 4th. The company reported $0.10 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 analysts’ expectations of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The business’s revenue was up 30.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.03 earnings per share. As a group, sell-side analysts expect that Palantir Technologies will post 0.19 earnings per share for the current year.

Insider Buying and Selling at Palantir Technologies

In other news, Director Lauren Elaina Friedman Stat sold 10,721 shares of the firm’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $76.78, for a total transaction of $823,158.38. Following the completion of the transaction, the director now directly owns 100,923 shares in the company, valued at $7,748,867.94. This trade represents a 9.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Ryan D. Taylor sold 483,987 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $74.48, for a total value of $36,047,351.76. Following the completion of the sale, the insider now owns 170,273 shares in the company, valued at $12,681,933.04. This represents a 73.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 15,653,753 shares of company stock valued at $1,039,407,675 over the last 90 days. 12.93% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. State Street Corp boosted its position in Palantir Technologies by 96.4% in the 3rd quarter. State Street Corp now owns 82,512,440 shares of the company’s stock valued at $3,069,463,000 after buying an additional 40,498,024 shares during the period. Geode Capital Management LLC raised its stake in shares of Palantir Technologies by 52.9% in the third quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock valued at $1,777,568,000 after acquiring an additional 16,598,253 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in Palantir Technologies by 3,476.2% in the third quarter. International Assets Investment Management LLC now owns 6,832,301 shares of the company’s stock valued at $254,162,000 after purchasing an additional 6,641,253 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Palantir Technologies by 60.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock worth $460,798,000 after purchasing an additional 4,667,955 shares in the last quarter. Finally, Lord Abbett & CO. LLC increased its holdings in Palantir Technologies by 943.2% during 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 during the period. Hedge funds and other institutional investors own 45.65% of the company’s stock.

About Palantir Technologies

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.