Mizuho Upgrades Palantir Technologies (NASDAQ:PLTR) to “Neutral”

Palantir Technologies (NASDAQ:PLTR) was upgraded by Mizuho from an “underperform” rating to a “neutral” rating in a research report issued to clients and investors on Wednesday, MarketBeat Ratings reports. The firm presently has a $135.00 target price on the stock. Mizuho’s price objective would indicate a potential downside of 9.14% from the stock’s current price.

A number of other equities research analysts have also recently weighed in on PLTR. Daiwa America upgraded shares of Palantir Technologies to a “hold” rating in a report on Tuesday, April 1st. Morgan Stanley upped their price objective on shares of Palantir Technologies from $90.00 to $98.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 6th. DA Davidson upped their price objective on shares of Palantir Technologies from $100.00 to $115.00 and gave the stock a “neutral” rating in a report on Tuesday, May 6th. Loop Capital set a $155.00 price objective on shares of Palantir Technologies and gave the stock a “buy” rating in a report on Thursday, June 12th. Finally, Deutsche Bank Aktiengesellschaft restated a “sell” rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Four analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $91.37.

Palantir Technologies Trading Down 0.4%

Shares of NASDAQ:PLTR opened at $148.58 on Wednesday. The company has a market cap of $350.64 billion, a price-to-earnings ratio of 646.00, a price-to-earnings-growth ratio of 12.73 and a beta of 2.59. The company has a 50-day moving average price of $132.11 and a 200-day moving average price of $104.76. Palantir Technologies has a 12 month low of $21.23 and a 12 month high of $150.62.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.13 EPS for the quarter, meeting the consensus estimate of $0.13. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The firm had revenue of $883.86 million during the quarter, compared to the consensus estimate of $863.89 million. During the same period in the prior year, the firm posted $0.08 earnings per share. The company’s quarterly revenue was up 39.4% compared to the same quarter last year. As a group, research analysts forecast that Palantir Technologies will post 0.31 EPS for the current fiscal year.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Alexander C. Karp sold 358,982 shares of Palantir Technologies stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total value of $45,371,734.98. Following the sale, the insider directly owned 6,432,258 shares in the company, valued at approximately $812,973,088.62. The trade was a 5.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider David A. Glazer sold 30,812 shares of Palantir Technologies stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total transaction of $3,894,328.68. Following the completion of the sale, the insider owned 495,497 shares in the company, valued at approximately $62,625,865.83. This represents a 5.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,452,297 shares of company stock worth $186,222,373 in the last 90 days. Company insiders own 12.93% of the company’s stock.

Institutional Trading of Palantir Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC increased its holdings in Palantir Technologies by 8.6% in the 4th quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company’s stock valued at $3,929,401,000 after acquiring an additional 4,127,306 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Palantir Technologies by 0.3% in the 1st quarter. Northern Trust Corp now owns 19,553,438 shares of the company’s stock worth $1,650,310,000 after buying an additional 64,973 shares during the last quarter. Kingstone Capital Partners Texas LLC bought a new stake in shares of Palantir Technologies in the 2nd quarter worth about $2,543,888,000. Norges Bank bought a new stake in shares of Palantir Technologies in the 4th quarter worth about $1,360,191,000. Finally, Invesco Ltd. increased its holdings in shares of Palantir Technologies by 20.3% in the 1st quarter. Invesco Ltd. now owns 17,746,956 shares of the company’s stock worth $1,497,843,000 after buying an additional 2,998,716 shares during the last quarter. 45.65% of the stock is currently owned by 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.