#1 - Palantir Technologies (NASDAQ:PLTR)
The first stock on this list is perhaps the most controversial. Palantir Technologies (NYSE:PLTR) is engaged in the big data sector. But many investors have seemed to be reluctant to invest in the company. Since going public, PLTR stock may a nice run to about $30. But on two separate occasions, the stock has tested the $40 level. And each time, the stock has been knocked back.
Wood certainly seems to believe these dips are buying opportunities. She has made Palantir a big buy in her ARK Innovation ETF (NYSEARCA:ARKK). And she also purchased shares of PLTR for the ARK Next-Generation Internet ETF (NYSEARCA:ARKW).
The company’s latest earnings report showed the company continues to burn cash. However, it’s also showing growth in its private sector businesses which was a key factor in the company’s 40% year-over-year revenue growth. With the attention of hedge funds behind it, Palantir appears to be a momentum stock for 2021. And if Wood’s endorsement means anything, PLTR stock may be ready to become considerably more expensive.
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.
More about Palantir Technologies- Current Price
- $80.46
- Consensus Rating
- Reduce
- Ratings Breakdown
- 4 Buy Ratings, 13 Hold Ratings, 5 Sell Ratings.
- Consensus Price Target
- $74.79 (-7.0% Downside)
