#2 - Palantir (NYSE: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 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
- $20.73
- Consensus Rating
- Reduce
- Ratings Breakdown
- 3 Buy Ratings, 6 Hold Ratings, 5 Sell Ratings.
- Consensus Price Target
- $20.65 (0.3% Downside)
