#3 - Palantir Technologies (NYSE:PLTR)
Thomas Hughes recently wrote for MarketBeat about the lack of love that Palantir Technologies Inc. (NYSE: PLTR) is receiving from analysts despite a solid earnings report. In fact, if you take the analyst ratings as of March 5, 2024, at face value, PLTR stock looks overvalued.
However, this could be a case of sell-side analysts trying to shake out weak hands. The "hope" in this case is that by keeping the price target low and maintaining a sentiment like Reduce, retail investors will sell the stock either out of impatience or fear. That would create a better entry point for institutions that have missed the gains in PLTR stock to date.
The key will be if Palantir can deliver on its growth from 2023. The company is forecasting 20% growth. That may be too conservative, particularly when you consider the growing worldwide demand for AI services. Palantir also continues to expand into other commercial sectors that will expand the use cases for the company's software.
About Palantir Technologies
Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. The company provides Palantir Gotham, a software platform which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.
Read More - Current Price
- $64.35
- Consensus Rating
- Reduce
- Ratings Breakdown
- 2 Buy Ratings, 8 Hold Ratings, 6 Sell Ratings.
- Consensus Price Target
- $31.71 (50.7% Downside)
