Free Trial

7 Stocks That Can Become Your Own Magnificent Seven - 3 of 7

 
 

#3 - Palantir Technologies (NASDAQ: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 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
$81.22
Consensus Rating
Reduce
Ratings Breakdown
2 Buy Ratings, 12 Hold Ratings, 7 Sell Ratings.
Consensus Price Target
$44.61 (45.1% Downside)