Mizuho Issues Positive Forecast for Palantir Technologies (NASDAQ:PLTR) Stock Price

Palantir Technologies (NASDAQ:PLTR - Get Free Report) had its target price increased by Mizuho from $94.00 to $116.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an "underperform" rating on the stock. Mizuho's price target would suggest a potential downside of 15.57% from the company's current price.

Several other equities analysts have also issued reports on PLTR. Wedbush set a $140.00 price objective on shares of Palantir Technologies and gave the company an "outperform" rating in a report on Tuesday, May 6th. Cantor Fitzgerald lifted their price objective on shares of Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft reissued a "sell" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. The Goldman Sachs Group lifted their price objective on shares of Palantir Technologies from $80.00 to $90.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Finally, William Blair set a $84.00 price objective on shares of Palantir Technologies in a report on Wednesday, March 5th. Five equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $86.30.

Palantir Technologies Trading Up 1.6%

Shares of Palantir Technologies stock traded up $2.21 on Wednesday, hitting $137.40. 93,318,005 shares of the company traded hands, compared to its average volume of 81,017,198. The stock's 50 day moving average price is $115.48 and its 200-day moving average price is $94.81. Palantir Technologies has a 52 week low of $21.23 and a 52 week high of $140.00. The company has a market cap of $324.25 billion, a PE ratio of 723.20, a PEG ratio of 10.84 and a beta of 2.64.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, meeting the consensus estimate 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 the consensus estimate of $863.89 million. During the same quarter in the previous year, the firm posted $0.08 earnings per share. The company's revenue was up 39.4% on a year-over-year basis. As a group, research analysts anticipate that Palantir Technologies will post 0.31 EPS for the current fiscal year.

Insider Activity

In related news, insider Alexander C. Karp sold 358,982 shares of the company'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 $45,371,734.98. Following the completion of the transaction, the insider now owns 6,432,258 shares of the company's stock, valued at approximately $812,973,088.62. This represents a 5.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the business's stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $81.25, for a total value of $65,000.00. Following the sale, the director now owns 61,339 shares of the company's stock, valued at approximately $4,983,793.75. This trade represents a 1.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,816,925 shares of company stock valued at $215,448,358 in the last quarter. 9.23% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Palantir Technologies

Several large investors have recently bought and sold shares of PLTR. Mechanics Financial Corp purchased a new stake in Palantir Technologies during the 1st quarter worth approximately $25,000. Roxbury Financial LLC purchased a new stake in Palantir Technologies during the 4th quarter worth approximately $27,000. Wealth Preservation Advisors LLC purchased a new stake in Palantir Technologies during the 1st quarter worth approximately $27,000. 1248 Management LLC purchased a new stake in shares of Palantir Technologies in the first quarter valued at approximately $27,000. Finally, HighMark Wealth Management LLC grew its position in shares of Palantir Technologies by 73.5% in the fourth quarter. HighMark Wealth Management LLC now owns 392 shares of the company's stock valued at $30,000 after purchasing an additional 166 shares in the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Palantir Technologies Company Profile

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.