Palantir Technologies (NYSE:PLTR) Given New $37.00 Price Target at Mizuho

Palantir Technologies (NYSE:PLTR) had its price objective raised by Mizuho from $30.00 to $37.00 in a research note issued to investors on Tuesday morning,Benzinga reports. The brokerage currently has an underperform rating on the stock.

Other research analysts have also recently issued reports about the stock. Monness Crespi & Hardt cut their price target on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating for the company in a report on Tuesday, August 6th. Bank of America increased their price target on shares of Palantir Technologies from $30.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Citigroup increased their target price on shares of Palantir Technologies from $25.00 to $28.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Northland Capmk raised shares of Palantir Technologies to a “hold” rating in a report on Thursday, August 22nd. Finally, The Goldman Sachs Group increased their target price on shares of Palantir Technologies from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Six investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $31.71.

Palantir Technologies Stock Performance

Shares of NYSE:PLTR opened at $58.42 on Tuesday. The stock has a market capitalization of $130.83 billion, a price-to-earnings ratio of 292.11 and a beta of 2.70. Palantir Technologies has a one year low of $15.66 and a one year high of $58.48. The company has a 50-day simple moving average of $39.60 and a 200-day simple moving average of $30.33.

Palantir Technologies (NYSE:PLTR) last posted its quarterly earnings results 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. The firm had revenue of $725.52 million during the quarter, compared to analysts’ expectations of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The firm’s revenue for the quarter was up 30.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.03 earnings per share. As a group, research analysts forecast that Palantir Technologies will post 0.19 EPS for the current fiscal year.

Insider Activity at Palantir Technologies

In related news, insider Alexander C. Karp sold 4,500,000 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $55.03, for a total value of $247,635,000.00. Following the sale, the insider now owns 6,432,258 shares of the company’s stock, valued at approximately $353,967,157.74. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 8,054 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $50.49, for a total value of $406,646.46. Following the completion of the sale, the director now directly owns 130,250 shares of the company’s stock, valued at approximately $6,576,322.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Alexander C. Karp sold 4,500,000 shares of Palantir Technologies stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $55.03, for a total transaction of $247,635,000.00. Following the completion of the sale, the insider now directly owns 6,432,258 shares of the company’s stock, valued at $353,967,157.74. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,482,878 shares of company stock valued at $1,044,202,496. 12.93% of the stock is owned by corporate insiders.

Institutional Trading of Palantir Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of PLTR. LPL Financial LLC grew its stake in shares of Palantir Technologies by 22.8% during the 3rd quarter. LPL Financial LLC now owns 3,100,520 shares of the company’s stock valued at $115,339,000 after buying an additional 575,790 shares during the period. Trustmark National Bank Trust Department purchased a new stake in shares of Palantir Technologies during the 3rd quarter valued at $207,000. Advisors Asset Management Inc. grew its stake in shares of Palantir Technologies by 76.0% during the 3rd quarter. Advisors Asset Management Inc. now owns 53,665 shares of the company’s stock valued at $1,996,000 after buying an additional 23,178 shares during the period. Kirtland Hills Capital Management LLC grew its stake in shares of Palantir Technologies by 128.2% during the 3rd quarter. Kirtland Hills Capital Management LLC now owns 27,312 shares of the company’s stock valued at $1,016,000 after buying an additional 15,344 shares during the period. Finally, Strategy Asset Managers LLC purchased a new stake in shares of Palantir Technologies during the 3rd quarter valued at $927,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Company Profile

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. The company provides Palantir Gotham, a software platform which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.