Palantir execution ‘has been stunning,’ says Mizuho

Mizuho keeps a Neutral rating on Palantir (PLTR) with a $165 price target after attended a product demo at the company’s offices. The demo highlighted Ontology, the company’s layer that unifies fragmented data into a single operational model, the analyst tells investors in a research note. Mizuho believes an “underappreciated aspect” of Palantir’s platform is that it offers extensive developer and automation tools with a marketplace of baseline applications. The company’s recent execution “has been stunning,” with material upward revisions across both its Commercial and Government segments, the firm contends. However, Mizuho adds that the stock’s multiple “remains extreme, dramatically above anything else in software.”