Mizuho Forecasts Strong Price Appreciation for Palantir Technologies (NASDAQ:PLTR) Stock

Palantir Technologies (NASDAQ:PLTR) had its price target lifted by equities researchers at Mizuho from $44.00 to $80.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “underperform” rating on the stock. Mizuho’s target price points to a potential downside of 4.47% from the stock’s current price.

Several other equities analysts have also recently issued reports on PLTR. Baird R W upgraded shares of Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Jefferies Financial Group lowered Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 target price for the company. in a research report on Thursday, November 7th. Northland Securities increased their price target on Palantir Technologies from $38.00 to $80.00 and gave the company a “market perform” rating in a research note on Tuesday. William Blair reaffirmed an “underperform” rating on shares of Palantir Technologies in a research note on Wednesday, December 18th. Finally, Morgan Stanley raised shares of Palantir Technologies from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $60.00 to $95.00 in a research report on Tuesday. Six research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $57.11.

Palantir Technologies Stock Performance

Shares of PLTR opened at $83.74 on Tuesday. The stock has a market capitalization of $190.76 billion, a price-to-earnings ratio of 418.72, a PEG ratio of 7.54 and a beta of 2.81. Palantir Technologies has a 52 week low of $16.48 and a 52 week high of $85.22. The stock has a fifty day moving average of $73.71 and a 200-day moving average of $51.00.

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, beating 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 company had revenue of $725.52 million during the quarter, compared to the consensus estimate of $705.11 million. During the same quarter in the prior year, the firm posted $0.03 earnings per share. The firm’s revenue was up 30.0% compared to the same quarter last year. As a group, equities analysts forecast that Palantir Technologies will post 0.19 EPS for the current year.

Insider Activity

In other Palantir Technologies news, insider Alexander C. Karp sold 4,500,000 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were 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 owns 6,432,258 shares in the company, valued at approximately $353,967,157.74. The trade was a 41.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 8,860 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $58.06, for a total transaction of $514,411.60. Following the completion of the transaction, the director now directly owns 121,390 shares in the company, valued at $7,047,903.40. This trade represents a 6.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,153,753 shares of company stock worth $1,287,042,675 in the last three months. Company insiders own 12.93% of the company’s stock.

Institutional Trading of Palantir Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PLTR. Northwest Investment Counselors LLC purchased a new position in shares of Palantir Technologies during the third quarter valued at approximately $25,000. Prestige Wealth Management Group LLC lifted its stake in Palantir Technologies by 747.1% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after acquiring an additional 650 shares in the last quarter. Roxbury Financial LLC bought a new position in Palantir Technologies during the 4th quarter valued at $27,000. First PREMIER Bank bought a new stake in shares of Palantir Technologies in the 4th quarter worth $28,000. Finally, Wolff Wiese Magana LLC raised its holdings in shares of Palantir Technologies by 230.4% in the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock valued at $29,000 after purchasing an additional 265 shares during the last quarter. 45.65% of the stock is owned by institutional investors.

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.