Palantir Technologies (NASDAQ:PLTR) Price Target Raised to $116.00 at Mizuho

Palantir Technologies (NASDAQ:PLTR) had its price objective raised by Mizuho from $94.00 to $116.00 in a research note published on Wednesday morning,Benzinga reports. Mizuho currently has an underperform rating on the stock.

A number of other equities research analysts have also issued reports on the stock. The Goldman Sachs Group increased their price objective on shares of Palantir Technologies from $80.00 to $90.00 and gave the company a “neutral” rating in a report on Tuesday, May 6th. Wedbush set a $140.00 target price on shares of Palantir Technologies and gave the company an “outperform” rating in a report on Tuesday, May 6th. Morgan Stanley raised their target price on shares of Palantir Technologies from $90.00 to $98.00 and gave the company an “equal weight” rating in a report on Tuesday, May 6th. Loop Capital raised their target price on shares of Palantir Technologies from $125.00 to $130.00 and gave the company a “buy” rating in a report on Tuesday, May 6th. Finally, Citigroup raised their target price on shares of Palantir Technologies from $110.00 to $115.00 and gave the company a “neutral” rating in a report on Thursday, May 8th. Five analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $86.30.

Palantir Technologies Price Performance

Shares of PLTR opened at $137.40 on Wednesday. Palantir Technologies has a 1 year low of $21.23 and a 1 year high of $140.00. The company has a 50 day simple moving average of $115.48 and a two-hundred day simple moving average of $94.61. The firm has a market cap of $324.25 billion, a P/E ratio of 723.20, a price-to-earnings-growth ratio of 10.84 and a beta of 2.64.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings data on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.13. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. The business had revenue of $883.86 million during the quarter, compared to analyst estimates of $863.89 million. During the same period last year, the firm posted $0.08 EPS. The company’s revenue was up 39.4% on a year-over-year basis. On average, sell-side analysts anticipate that Palantir Technologies will post 0.31 earnings per share for the current year.

Insider Transactions at Palantir Technologies

In other news, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $81.25, for a total transaction of $65,000.00. Following the completion of the sale, the director now directly owns 61,339 shares in the company, valued at approximately $4,983,793.75. This trade represents a 1.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Shyam Sankar sold 405,000 shares of Palantir Technologies stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $132.08, for a total value of $53,492,400.00. Following the sale, the insider now owns 702,786 shares of the company’s stock, valued at approximately $92,823,974.88. This trade represents a 36.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,816,925 shares of company stock worth $215,448,358. 9.23% of the stock is currently owned by insiders.

Institutional Trading of Palantir Technologies

Several institutional investors and hedge funds have recently made changes to their positions in PLTR. Mechanics Financial Corp bought a new stake in shares of Palantir Technologies during the first quarter worth $25,000. Roxbury Financial LLC bought a new stake in shares of Palantir Technologies in the fourth quarter valued at about $27,000. Wealth Preservation Advisors LLC bought a new stake in shares of Palantir Technologies in the first quarter valued at about $27,000. 1248 Management LLC bought a new stake in shares of Palantir Technologies in the first quarter valued at about $27,000. Finally, HighMark Wealth Management LLC raised its holdings in shares of Palantir Technologies by 73.5% in the fourth quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock valued at $30,000 after acquiring an additional 166 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors.

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.