Palantir Technologies (NASDAQ:PLTR) Given New $116.00 Price Target at Mizuho

Palantir Technologies (NASDAQ:PLTR) had its price target hoisted by research analysts at Mizuho from $94.00 to $116.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “underperform” rating on the stock. Mizuho’s price objective would suggest a potential downside of 14.19% from the stock’s current price.

A number of other equities analysts also recently commented on PLTR. Wedbush set a $140.00 price objective on Palantir Technologies and gave the stock an “outperform” rating in a research report on Tuesday, May 6th. William Blair set a $84.00 price target on Palantir Technologies in a report on Wednesday, March 5th. Royal Bank of Canada reaffirmed an “underperform” rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Daiwa Capital Markets initiated coverage on shares of Palantir Technologies in a research note on Tuesday, April 1st. They set a “neutral” rating and a $90.00 price target on the stock. Finally, The Goldman Sachs Group lifted their target price on Palantir Technologies from $80.00 to $90.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 6th. Five equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $86.30.

Palantir Technologies Stock Performance

NASDAQ:PLTR opened at $135.19 on Wednesday. The stock has a market capitalization of $319.04 billion, a P/E ratio of 711.56, a PEG ratio of 10.84 and a beta of 2.64. Palantir Technologies has a fifty-two week low of $21.23 and a fifty-two week high of $140.00. The company has a 50 day moving average price of $114.28 and a 200 day moving average price of $94.12.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings results on Monday, May 5th. The company reported $0.13 earnings per share (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 company had revenue of $883.86 million for the quarter, compared to analyst estimates of $863.89 million. During the same period in the prior year, the firm earned $0.08 earnings per share. The business’s revenue for the quarter was up 39.4% compared to the same quarter last year. Research analysts forecast that Palantir Technologies will post 0.31 earnings per share for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In other news, insider Ryan D. Taylor sold 98,177 shares of the company’s stock in a transaction 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 transaction, the insider now directly owns 403,171 shares of the company’s stock, valued at $33,382,558.80. This represents a 19.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the firm’s stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $81.25, for a total transaction of $65,000.00. Following the completion of the sale, the director now owns 61,339 shares of the company’s stock, valued at $4,983,793.75. This trade represents a 1.29% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,816,925 shares of company stock valued at $215,448,358. 9.23% of the stock is owned by corporate insiders.

Institutional Trading of Palantir Technologies

A number of institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its stake in shares of Palantir Technologies by 8.6% during the 4th quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company’s stock worth $3,929,401,000 after acquiring an additional 4,127,306 shares in the last quarter. Northern Trust Corp raised its holdings in Palantir Technologies by 0.3% during the first quarter. Northern Trust Corp now owns 19,553,438 shares of the company’s stock worth $1,650,310,000 after purchasing an additional 64,973 shares during the last quarter. Norges Bank purchased a new stake in Palantir Technologies during the fourth quarter worth $1,360,191,000. Invesco Ltd. boosted its position in Palantir Technologies by 20.3% during the first quarter. Invesco Ltd. now owns 17,746,956 shares of the company’s stock worth $1,497,843,000 after purchasing an additional 2,998,716 shares in the last quarter. Finally, FMR LLC grew its holdings in Palantir Technologies by 22.6% in the fourth quarter. FMR LLC now owns 15,296,371 shares of the company’s stock valued at $1,156,864,000 after purchasing an additional 2,818,090 shares during the last quarter. Hedge funds and other institutional investors 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.