According to the report, Mizuho analysts raised its target price for Palantir Technologies (PLTR, Financial) to $44.00 from $37.00, but still sees the stock as a “Underperform.” It comes after a string of conflicting opinions from various research firms.
Despite the higher target, Palantir shares dropped 4% on monday in response to lingering investor concerns about its long-term outlook.
At the end of last month, Wedbush analysts upped its target on Palantir to $75.00 and issued an ‘outperform’ rating. Jefferies downgraded the stock to “underperform” and set a $28.00 target. DA Davidson raised its target to $47.00 from $28.00 and gave a neutral rating on November 5. Goldman Sachs raised its price target from $16.00 to $41.00 to a still neutral’ rating. Since November 25, when Bank of America gave it a ‘buy’ rating and raised its target to $75.00, an analyst’s report at that time estimated that the target price could reach $75.00.
But Palantir still has mixed analyst coverage. Six analysts rate the stock a ‘sell,’ then a ‘hold,’ and just two a ‘buy.’ MarketBeat currently rates Palantir a ‘Hold,’ with a consensus target price of $38.40.
This article first appeared on GuruFocus.
