Palantir price target raised to $8 from $7 at Mizuho

Mizuho analyst Matthew Broome raised the firm’s price target on Palantir to $8 from $7 and keeps a Neutral rating on the shares. The company reported "mixed" Q4 results, as revenue came in slightly above consensus and it "surprisingly" reported GAAP profitability for the first time, the analyst tells investors in a research note. However, total contract value booked during the quarter was low, reflecting the lumpiness of the business, while remaining deal value declined in part due to ongoing headwinds from the commercial strategic investment program, says Mizuho. Additionally, Palantir’s 2023 revenue growth guidance was below Street expectations, adds the firm.