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

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

PLTR has been the subject of several other reports. Deutsche Bank Aktiengesellschaft restated a “sell” rating on shares of Palantir Technologies in a report on Tuesday, May 6th. The Goldman Sachs Group boosted their target price on Palantir Technologies from $80.00 to $90.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 6th. Loop Capital boosted their target price on Palantir Technologies from $125.00 to $130.00 and gave the company a “buy” rating in a report on Tuesday, May 6th. Daiwa Capital Markets started coverage on shares of Palantir Technologies in a research note on Tuesday, April 1st. They issued a “neutral” rating and a $90.00 price objective for the company. Finally, DA Davidson lifted their price objective on Palantir Technologies from $100.00 to $115.00 and gave the company a “neutral” rating in a research report on Tuesday, May 6th. Five analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Palantir Technologies has a consensus rating of “Hold” and a consensus price target of $85.05.

Palantir Technologies Price Performance

PLTR opened at $136.28 on Wednesday. The firm has a fifty day moving average price of $113.13 and a 200 day moving average price of $93.63. The stock has a market cap of $321.61 billion, a P/E ratio of 717.31, a P/E/G ratio of 10.84 and a beta of 2.64. Palantir Technologies has a 1 year low of $21.23 and a 1 year high of $140.00.

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

Insider Activity at Palantir Technologies

In related news, insider Stephen Andrew Cohen sold 310,000 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $87.07, for a total transaction of $26,991,700.00. Following the completion of the sale, the insider now directly owns 592 shares of the company’s stock, valued at $51,545.44. This represents a 99.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Eric H. Woersching sold 17,000 shares of the firm’s stock in a transaction on Monday, June 9th. The stock was sold at an average price of $129.29, for a total value of $2,197,930.00. Following the sale, the director now directly owns 12,562 shares of the company’s stock, valued at approximately $1,624,140.98. This represents a 57.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,661,925 shares of company stock worth $268,580,958 over the last quarter. 9.23% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Palantir Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. 1248 Management LLC acquired a new stake in shares of Palantir Technologies during the first quarter worth approximately $37,000. CBIZ Investment Advisory Services LLC increased its holdings in shares of Palantir Technologies by 118.5% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 413 shares of the company’s stock valued at $35,000 after acquiring an additional 224 shares during the last quarter. Modern Wealth Management LLC raised its position in shares of Palantir Technologies by 141.1% in the first quarter. Modern Wealth Management LLC now owns 18,114 shares of the company’s stock valued at $1,529,000 after purchasing an additional 10,601 shares during the period. Strs Ohio bought a new position in Palantir Technologies in the 1st quarter worth $13,364,000. Finally, Wealth Management Associates Inc. lifted its position in shares of Palantir Technologies by 1.4% during the 1st quarter. Wealth Management Associates Inc. now owns 49,249 shares of the company’s stock worth $4,157,000 after purchasing an additional 682 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

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.