Palantir dips after Monness cuts rating to Sell on valuation [Seeking Alpha]
Palantir Technologies Inc. Class A (PLTR)
Company Research
Source: Seeking Alpha
The firm has set a $20 price target on the stock. The analysts said that on the back of an unprecedented generative AI hype cycle, Palantir surged in 2023 and the stock's upward trajectory has continued in 2024, leaving the company with what they view as an egregiously rich valuation. In Monness' view, Palantir — which offers software platforms for the intelligence community — is well positioned to benefit from the long-term AI trend and can capitalize on volatile geopolitics. However, the analysts think that revenue from government-related contracts has proven lumpy, execution spotty, and valuation excessive, and believe the darkest days of this economic downturn are ahead. Palantir Technologies ( PLTR ) has a Hold rating at Seeking Alpha's Quant Rating system, which consistently beats the market. Meanwhile, the Seeking Alpha authors' average rating is also Hold and so is the average Wall Street analysts' rating, Hold Recommended For You More Trending News Recommended
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News
- Amae Health, Innovative Treatment Provider for Severe Mental Illness, Announces Closing of Oversubscribed $15 Million Series A Funding Round [Yahoo! Finance]Yahoo! Finance
- Palantir Technologies Inc. (NYSE: PLTR) was upgraded by analysts at Monness Crespi & Hardt from a "sell" rating to a "neutral" rating.MarketBeat
- Unleashing AI Sounds: The Best Tools For Music, Voices, And Effects [Forbes]Forbes
- Parexel and Palantir Expand Collaboration to Accelerate Clinical Data Delivery and Power Clinical Outcomes for Patients [Yahoo! Finance]Yahoo! Finance
- Palantir Technologies Inc. (PLTR) Stock Slides as Market Rises: Facts to Know Before You Trade [Yahoo! Finance]Yahoo! Finance
PLTR
Earnings
- 2/5/24 - Beat
PLTR
Sec Filings
- 4/26/24 - Form ARS
- 4/26/24 - Form DEFA14A
- 4/26/24 - Form DEF
- PLTR's page on the SEC website