Palantir Technologies (NYSE:PLTR) Price Target Raised to $37.00 at Mizuho

by · The Markets Daily

Palantir Technologies (NYSE:PLTR – Free Report) had its price target lifted by Mizuho from $30.00 to $37.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have an underperform rating on the stock.

Other analysts have also issued research reports about the company. Bank of America boosted their target price on Palantir Technologies from $30.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Royal Bank of Canada restated an “underperform” rating and issued a $9.00 price target on shares of Palantir Technologies in a research note on Tuesday, August 6th. Raymond James downgraded shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. Jefferies Financial Group boosted their price target on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Finally, Northland Securities boosted their price target on shares of Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a research note on Tuesday. Six analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $31.71.

Check Out Our Latest Report on PLTR

Palantir Technologies Stock Up 4.5 %

Shares of NYSE PLTR opened at $58.42 on Tuesday. The firm has a market cap of $130.83 billion, a price-to-earnings ratio of 292.11 and a beta of 2.70. Palantir Technologies has a 52-week low of $15.66 and a 52-week high of $58.48. The business’s 50 day moving average is $39.60 and its two-hundred day moving average is $30.33.

Palantir Technologies (NYSE:PLTR – Get Free Report) last announced its earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The company had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The firm’s quarterly revenue was up 30.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.03 earnings per share. Analysts anticipate that Palantir Technologies will post 0.19 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Heather A. Planishek sold 20,000 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $30.24, for a total transaction of $604,800.00. Following the completion of the transaction, the insider now owns 612,006 shares in the company, valued at approximately $18,507,061.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Heather A. Planishek sold 20,000 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $30.24, for a total transaction of $604,800.00. Following the completion of the transaction, the insider now owns 612,006 shares in the company, valued at approximately $18,507,061.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Alexander C. Karp sold 4,500,000 shares of the company’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 transaction, the insider now owns 6,432,258 shares of the company’s stock, valued at $353,967,157.74. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 25,482,878 shares of company stock worth $1,044,202,496. Corporate insiders own 12.93% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Palantir Technologies by 1.6% in the first quarter. Vanguard Group Inc. now owns 196,834,580 shares of the company’s stock valued at $4,529,164,000 after acquiring an additional 3,029,317 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Palantir Technologies by 5.7% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,982,925 shares of the company’s stock valued at $557,365,000 after buying an additional 808,444 shares during the last quarter. ARK Investment Management LLC raised its holdings in shares of Palantir Technologies by 2.2% in the second quarter. ARK Investment Management LLC now owns 13,023,099 shares of the company’s stock valued at $329,875,000 after buying an additional 277,623 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Palantir Technologies by 1.4% in the second quarter. Legal & General Group Plc now owns 11,917,200 shares of the company’s stock valued at $301,871,000 after buying an additional 167,030 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Palantir Technologies by 4.2% in the second quarter. Bank of New York Mellon Corp now owns 7,326,275 shares of the company’s stock valued at $185,575,000 after buying an additional 292,885 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

About Palantir Technologies

(Get Free Report)

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.

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