Palantir Technologies (NASDAQ:PLTR) Upgraded at Mizuho

Mizuho upgraded shares of Palantir Technologies (NASDAQ:PLTR) from an underperform rating to a neutral rating in a research note released on Wednesday morning, Marketbeat.com reports. Mizuho currently has $135.00 price objective on the stock, up from their prior price objective of $116.00.

Several other brokerages have also recently issued reports on PLTR. The Goldman Sachs Group lifted their price objective on Palantir Technologies from $80.00 to $90.00 and gave the stock a “neutral” rating in a report on Tuesday, May 6th. DA Davidson lifted their price objective on Palantir Technologies from $100.00 to $115.00 and gave the stock a “neutral” rating in a report on Tuesday, May 6th. Citigroup raised their price target on Palantir Technologies from $110.00 to $115.00 and gave the stock a “neutral” rating in a research report on Thursday, May 8th. Cantor Fitzgerald raised their price target on Palantir Technologies from $98.00 to $110.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 6th. Finally, Royal Bank Of Canada reissued an “underperform” rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Four equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $91.37.

Palantir Technologies Price Performance

PLTR opened at $153.52 on Wednesday. The business has a 50 day simple moving average of $134.33 and a 200-day simple moving average of $106.15. The stock has a market capitalization of $362.29 billion, a P/E ratio of 667.48, a P/E/G ratio of 13.15 and a beta of 2.59. Palantir Technologies has a 12 month low of $21.23 and a 12 month high of $155.68.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.13. The firm had revenue of $883.86 million during the quarter, compared to analysts’ expectations of $863.89 million. Palantir Technologies had a return on equity of 6.55% and a net margin of 18.32%. Palantir Technologies’s revenue was up 39.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.08 earnings per share. Research analysts anticipate that Palantir Technologies will post 0.31 EPS for the current year.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 309,696 shares of the business’s stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total transaction of $39,142,477.44. Following the transaction, the insider owned 592 shares in the company, valued at $74,822.88. The trade was a 99.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider David A. Glazer sold 30,812 shares of the business’s stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total value of $3,894,328.68. Following the transaction, the insider owned 495,497 shares in the company, valued at approximately $62,625,865.83. This represents a 5.85% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,485,632 shares of company stock valued at $191,222,623 over the last 90 days. Corporate insiders own 9.23% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Christensen King & Associates Investment Services Inc. boosted its holdings in Palantir Technologies by 1.3% in the second quarter. Christensen King & Associates Investment Services Inc. now owns 5,477 shares of the company’s stock valued at $747,000 after purchasing an additional 72 shares during the last quarter. McGlone Suttner Wealth Management Inc. raised its position in shares of Palantir Technologies by 1.0% in the 2nd quarter. McGlone Suttner Wealth Management Inc. now owns 7,387 shares of the company’s stock valued at $1,007,000 after purchasing an additional 73 shares in the last quarter. Farmers & Merchants Investments Inc. raised its position in shares of Palantir Technologies by 3.4% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 2,412 shares of the company’s stock valued at $329,000 after purchasing an additional 80 shares in the last quarter. Oxinas Partners Wealth Management LLC raised its position in shares of Palantir Technologies by 2.7% in the 2nd quarter. Oxinas Partners Wealth Management LLC now owns 3,010 shares of the company’s stock valued at $410,000 after purchasing an additional 80 shares in the last quarter. Finally, Optima Capital LLC raised its position in shares of Palantir Technologies by 0.6% in the 1st quarter. Optima Capital LLC now owns 12,626 shares of the company’s stock valued at $1,066,000 after purchasing an additional 81 shares in the last quarter. 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.