Palantir (NYSE:PLTR) dipped in buying and selling after top-rated Monness Crespi analyst Brian White downgraded PLTR to a Promote from a Maintain citing the information analytics firm’s “egregiously wealthy valuation.” White identified that over the previous yr, PLTR inventory has skyrocketed by greater than 100% using on the generative AI hype however might now be vulnerable to a possible financial downturn.
Whereas the analyst famous that PLTR might stand to learn over the long run from generative AI, the corporate’s revenues from authorities contracts stay lumpy with spotty execution, and extreme valuation.
White’s worth goal of $20 on PLTR implies a draw back potential of 14.4% at present ranges.
Is Palantir a Purchase, Maintain, or Promote?
Analysts stay sidelined about PLTR inventory with a Maintain consensus ranking primarily based on two Buys, six Holds, and 5 Sells. The common PLTR worth goal of $19.64 implies a draw back potential of 16% at present ranges.