Palantir Technologies (NASDAQ:PLTR) Stock Price Expected to Rise, Mizuho Analyst Says

Palantir Technologies (NASDAQ:PLTR) had its price objective hoisted by research analysts at Mizuho from $94.00 to $116.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “underperform” rating on the stock. Mizuho’s price objective points to a potential downside of 14.19% from the stock’s previous close.

A number of other equities research analysts have also issued reports on PLTR. Wedbush set a $140.00 price target on Palantir Technologies and gave the stock an “outperform” rating in a research note on Tuesday, May 6th. Citigroup lifted their target price on Palantir Technologies from $110.00 to $115.00 and gave the stock a “neutral” rating in a research report on Thursday, May 8th. DA Davidson upped their price target on shares of Palantir Technologies from $100.00 to $115.00 and gave the stock a “neutral” rating in a report on Tuesday, May 6th. Loop Capital raised their price target on shares of Palantir Technologies from $125.00 to $130.00 and gave the stock a “buy” rating in a research note on Tuesday, May 6th. Finally, Daiwa Capital Markets started coverage on shares of Palantir Technologies in a research report on Tuesday, April 1st. They issued a “neutral” rating and a $90.00 price objective for the company. Five research analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Palantir Technologies presently has a consensus rating of “Hold” and an average price target of $86.30.

Palantir Technologies Stock Down 0.9%

NASDAQ PLTR opened at $135.19 on Wednesday. Palantir Technologies has a 52 week low of $21.23 and a 52 week high of $140.00. The firm has a market capitalization of $319.04 billion, a price-to-earnings ratio of 711.56, a PEG ratio of 10.84 and a beta of 2.64. The company has a fifty day moving average of $114.28 and a two-hundred day moving average of $94.12.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, hitting analysts’ consensus estimates of $0.13. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. The firm had revenue of $883.86 million during the quarter, compared to analysts’ expectations of $863.89 million. During the same period in the previous year, the company earned $0.08 EPS. The firm’s revenue for the quarter was up 39.4% compared to the same quarter last year. Equities research analysts anticipate that Palantir Technologies will post 0.31 EPS for the current year.

Insider Buying and Selling at Palantir Technologies

In other news, insider Ryan D. Taylor sold 98,177 shares of the firm’s stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $82.80, for a total transaction of $8,129,055.60. Following the sale, the insider now owns 403,171 shares of the company’s stock, valued at $33,382,558.80. This trade represents a 19.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Shyam Sankar sold 405,000 shares of Palantir Technologies stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $132.08, for a total transaction of $53,492,400.00. Following the completion of the transaction, the insider now directly owns 702,786 shares of the company’s stock, valued at $92,823,974.88. The trade was a 36.56% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,816,925 shares of company stock worth $215,448,358. Insiders own 9.23% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of PLTR. Allegiance Financial Group Advisory Services LLC raised its stake in Palantir Technologies by 3.0% in the 1st quarter. Allegiance Financial Group Advisory Services LLC now owns 2,917 shares of the company’s stock valued at $246,000 after purchasing an additional 84 shares during the last quarter. Delta Investment Management LLC boosted its holdings in shares of Palantir Technologies by 1.9% during the 1st quarter. Delta Investment Management LLC now owns 4,716 shares of the company’s stock worth $398,000 after purchasing an additional 90 shares during the last quarter. Sovran Advisors LLC increased its holdings in shares of Palantir Technologies by 1.8% in the first quarter. Sovran Advisors LLC now owns 5,453 shares of the company’s stock valued at $460,000 after purchasing an additional 94 shares during the last quarter. Lodestone Wealth Management LLC boosted its stake in Palantir Technologies by 1.1% during the first quarter. Lodestone Wealth Management LLC now owns 8,950 shares of the company’s stock worth $755,000 after buying an additional 97 shares during the last quarter. Finally, Continuum Advisory LLC raised its holdings in shares of Palantir Technologies by 3.8% during the 4th quarter. Continuum Advisory LLC now owns 2,670 shares of the company’s stock worth $202,000 after acquiring an additional 98 shares during the period. Institutional investors and hedge funds 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.