#2 - Palantir (NASDAQ:PLTR)
Palantir Technologies, Inc. (NYSE: PLTR) continues to be one of the most volatile and polarizing stocks of 2023. Of course, it’s also been one of the stock market’s biggest winners in 2023 posting a 140% gain in 2023.
One problem that faces investors is that it’s not easy to classify Palantir into a single category. That means it’s tough to forecast revenue and, more importantly, earnings.
Although PLTR stock is down 6% in the month ending August 14, 2023, interest in the stock is still high. One reason is due to bullish analyst sentiment including by Wedbush analyst Dan Ives who initiated coverage on the stock with a Buy rating and a $25 price target.
The question for Palantir comes down to valuation. The company is expected to see increased earnings in the last year. But analysts believe that only merits a stock price of around $13, which is about 16% lower than the PLTR stock price on August 14, 2023.
However, if you have the patience and the risk tolerance, Palantir looks like a stock that could easily double from its price of around $15.
About Palantir Technologies
Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.
Read More - Current Price
- $80.55
- Consensus Rating
- Reduce
- Ratings Breakdown
- 2 Buy Ratings, 11 Hold Ratings, 6 Sell Ratings.
- Consensus Price Target
- $41.00 (49.1% Downside)
