Palantir Technologies Stock Surges Amid AI Developments and Analyst Upgrades

What's Going On With Palantir Technologies Shares Today? - Palantir Technologies (NYSE:PLTR)

Mizuho analyst Matthew Broome downgraded Palantir from Neutral to Underperform. Palantir Technologies Inc. PLTR shares are trading lower in the morning session on Wednesday. According to Benzinga Pro, PLTR stock has gained 74% in the past six months. However, the latest downfall comes after Mizuho analyst Matthew Broome downgraded Palantir from Neutral to Underperform but raised the price target from $21 to $22. Investors can gain exposure to the stock via REX AI Equity Premium Income ETF AIPI and Global X Funds Global X Defense Tech ETFSHLD. Also Read: Is Palantir Stock The 'Most Underrated AI-Exposed Play In The Market'? Palantir's results for its second quarter ended June 30, 2024 will be released on Monday, August 5, 2024, following the close of U.S. markets. Palantir recently guided for second-quarter revenue of $649 million to $653 million and full-year revenue of $2.677 billion to $2.689 billion. Is PLTR A Good Stock To Buy? Wall Street analysts view Palantir Technologies on the whole as a Neutral, given the history of coverage over the past three months. Rishi Jaluria from RBC Capital in Palantir Technologies is the most optimistic, expecting a 80.0% rise in the stock in the coming year. But looking at how the market as a whole thinks of the stock, you can reference historical price action for views on whether investors feel strongly about the stock one way or another. In the past 3 months, Palantir Technologies rose 33.84%, which indicates that opinion improved on the business and how attractive it is to own based on either its stock price, or underlying fundamentals, like revenue, which rose 20.78% over the past year. A complete overview of how Wall Street views individual stocks is available here, while real time updates on the latest analyst actions will be delivered via Benzinga PRO. Try it for free. Price Action: PLTR shares are trading lower by 0.88% to $28.42 at last check Wednesday. Image via Shutterstock Read Next: BlackBerry Launches AI-Powered CylanceMDR Pro Cybersecurity For Businesses: Details Market News and Data brought to you by Benzinga APIs

What's Going On With Palantir Stock Tuesday? - Palantir Technologies (NYSE:PLTR)

The Mizuho analyst also lifts his price target for Palantir from $21 to $22. Palantir Technologies Inc PLTR shares are trading lower Tuesday after the AI software stock was downgraded by Mizuho. What Happened: Mizuho analyst Matthew Broome downgraded Palantir from Neutral to Underperform on Tuesday but raised the price target from $21 to $22. The downgrade comes as Palantir shares are up more than 65% year-to-date largely driven by continued momentum surrounding the company's positioning in the AI space. Despite the strong start to the year, Palantir stock is still below the highs it set in early 2021. After the market close on Monday, Palantir scheduled its second-quarter financial results for Aug. 5. The company is expected to report earnings of 8 cents per share and revenue of $652.141 million, according to Benzinga Pro. Last quarter, Palantir beat analyst estimates as revenue grew 21% year-over-year and delivered its sixth consecutive quarter of GAAP profitability. Palantir guided for second-quarter revenue of $649 million to $653 million and full-year revenue of $2.677 billion to $2.689 billion. Despite beating estimates and raising its full-year guidance, the stock traded lower. It has since recovered and has hit a series of new 52-week highs in recent sessions as software and AI continue to be strong themes for the market. Check This Out: Elon Musk Reacts With 'Fake Gnus' Post To Report Of $45M Monthly Funding For Pro-Trump PAC PLTR Price Action: Palantir shares were down 1.88% at $28.13 at the time of publication, according to Benzinga Pro. Photo: Shutterstock. Market News and Data brought to you by Benzinga APIs

Analyst resets Palantir stock price target ahead of Q2 earnings

Palantir Technologies shares moved lower in Tuesday trading following a downgrade from a Wall Street analyst heading into the data-analytics group's second-quarter earnings report next month. The data-analysis software provider (PLTR) , co-founded by the billionaire investor Peter Thiel in 2003, has added more than $27 billion in market value this year as investors continue to bet that the group's foothold in artificial-intelligence technologies would drive faster earnings growth. Key to that outlook has been the group's AIP Logic platform, which enables companies to build specific functions that leverage its large language models without having to use complex computer coding. Palantir has also been able to leverage its legacy government business, which is tied in part to its work with the Central Intelligence Agency. The Denver group won a $480 million contract from the U.S. Department of Defense in May. Mizuho analyst Matthew Broome says, however, that the market's valuation of Palantir is becoming "increasingly difficult to justify" as it prices the stock well ahead of his revenue forecasts for the coming year. Palantir 'lack of visibility' in focus "While Palantir has performed generally well in recent quarters, we remain concerned by the lack of visibility into its business," said Broome, who lowered his rating on the stock to underperform from neutral in a note published Tuesday. "Some of the beats have been lower quality, and we have limited confidence in the company's ability to deliver consistently strong results," added Broome, who nonetheless lifted his price target on the group by $1 to $22 a share. Related: Analyst revamps Palantir stock price target as software firm widens scope Palantir, which reports second-quarter earnings on Aug. 5, often trades with big swings tied to its near-term sales outlook. In May the stock saw its biggest one-day decline in two years -- 15% -- after company officials forecast full-year revenue in the region of $2.68 to $2.69 billion, a tally that came up shy of Wall Street estimates. For the second quarter, Palantir estimates revenue around $634 million, with Wall Street now expecting an overall tally of $652.1 million and an adjusted bottom line of 8 cents a share. More AI Stocks: "We are winning in the U.S. (because) we built software infrastructure that allows enterprises, both commercial and government, to move beyond chat, move beyond self-pleasuring, to actually produce things that are valuable," Chief Executive Alex Karp told investors on May 6. "And whether this is tasking satellites in the commercial context, or changing margins or changing American workers into Japanese engineers using our software platform and large language models, we believe we are the only company in America, the only really relevant market, that will allow you to do useful things with large language models," he added. Palantir shares were marked 1.95% lower in premarket trading to indicate an opening bell price of $28.11 each. Such a move would still leave the stock with a year-to-date gain of around 70%. Related: Veteran fund manager sees world of pain coming for stocks