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

Palantir Technologies (NASDAQ:PLTR) had its target price boosted by investment analysts at Mizuho from $44.00 to $80.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an “underperform” rating on the stock. Mizuho’s price target would suggest a potential downside of 21.07% from the company’s current price.

Other equities analysts also recently issued reports about the company. UBS Group began coverage on Palantir Technologies in a report on Thursday, December 19th. They issued a “neutral” rating and a $80.00 price target for the company. William Blair reaffirmed an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 18th. Morgan Stanley raised shares of Palantir Technologies from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $60.00 to $95.00 in a research report on Tuesday. Wedbush raised their price objective on Palantir Technologies from $75.00 to $90.00 and gave the stock an “outperform” rating in a report on Thursday, January 23rd. Finally, Baird R W raised Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. Six research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Palantir Technologies has an average rating of “Hold” and a consensus price target of $69.44.

Palantir Technologies Trading Down 2.4 %

Palantir Technologies stock opened at $101.36 on Tuesday. The stock has a market cap of $230.90 billion, a P/E ratio of 506.83, a price-to-earnings-growth ratio of 7.54 and a beta of 2.81. The company has a fifty day simple moving average of $74.85 and a 200-day simple moving average of $51.92. Palantir Technologies has a 12-month low of $19.76 and a 12-month high of $106.91.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.01. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The business had revenue of $725.52 million during the quarter, compared to analysts’ expectations of $705.11 million. During the same period in the prior year, the firm posted $0.03 EPS. The business’s quarterly revenue was up 30.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Palantir Technologies will post 0.19 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Lauren Elaina Friedman Stat sold 8,860 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $58.06, for a total transaction of $514,411.60. Following the transaction, the director now owns 121,390 shares of the company’s stock, valued at $7,047,903.40. This represents a 6.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Alexandra W. Schiff sold 4,000 shares of the firm’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total value of $286,520.00. Following the completion of the sale, the director now directly owns 195,393 shares of the company’s stock, valued at approximately $13,996,000.59. This trade represents a 2.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,653,753 shares of company stock valued at $1,039,407,675 over the last quarter. Corporate insiders own 12.93% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Czech National Bank purchased a new stake in shares of Palantir Technologies during the 3rd quarter worth approximately $15,261,000. GAMMA Investing LLC raised its holdings in Palantir Technologies by 83.9% during the third quarter. GAMMA Investing LLC now owns 5,713 shares of the company’s stock worth $213,000 after purchasing an additional 2,607 shares during the last quarter. Azzad Asset Management Inc. ADV purchased a new stake in Palantir Technologies during the third quarter worth $209,000. Diversified Trust Co grew its holdings in Palantir Technologies by 172.7% in the third quarter. Diversified Trust Co now owns 21,559 shares of the company’s stock valued at $802,000 after purchasing an additional 13,652 shares during the last quarter. Finally, Smith Anglin Financial LLC purchased a new position in shares of Palantir Technologies in the third quarter valued at $273,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Palantir Technologies Company Profile

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.