Following a product demo and meeting with Palantir’s (PLTR) CFO David Glazer and other executives, Mizuho Securities analyst Gregg Moskowitz praised the company’s artificial intelligence (AI) tools and stated that the data analytics provider’s “recent execution has been stunning,” with significant upward revisions across the Commercial and Government business segments. While the 4-star analyst is impressed by the company’s offerings and execution, he retained a Hold rating on PLTR stock with a price target of $165, citing valuation concerns.
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Mizuho Analyst Weighs in on PLTR Stock
Moskowitz highlighted PLTR’s product demo, which showcased Palantir Ontology, the foundational layer of the company’s platforms, along with AI Forward Deployed Engineers (FDEs) and developer tools that “enable rapid customization and support mission-critical decision-making.”
The analyst contends that the PLTR platform’s extensive developer and automation tools are underappreciated. Furthermore, CFO Glazer indicated that individual developers are increasingly signing up for the platform, which Moskowitz believes will drive broader adoption of PLTR’s offerings. Moreover, Mizuho’s recent checks have revealed that inbound interest from enterprises continues to increase.
Overall, Moskowitz believes that PLTR is well-positioned to gain from AI tailwinds, government digital transformation, and industrial modernization. However, he currently prefers to be on the sidelines on PLTR stock as its multiple continues to be “extreme, dramatically above anything else in software.”
Is PLTR a Good Stock to Buy?
Currently, Wall Street has a Hold consensus rating on Palantir Technologies stock based on 13 Holds, four Buys, and two Sell recommendations. The average PLTR stock price target of $154.47 indicates a possible downside of about 9% from current levels. Palantir stock has rallied 123% year-to-date.
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