Why Palantir Stock Looks Set To Extend Gains Today
Portfolio Pulse from Shanthi Rexaline
Palantir Technologies Inc (NYSE:PLTR) stock is likely to extend gains today, following a 1.37% rise in premarket trading to $10.39. The stock has gained momentum since its Q1 results on May 8, with prices jumping over 23% in a single session. Ark Invest added 1.26 million Palantir shares valued at about $13 million on Wednesday. However, sell-side firms have an average price target of $8.88, suggesting a 13% downside.
May 18, 2023 | 10:52 am
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Palantir's stock is likely to extend gains today, following a 1.37% rise in premarket trading. Ark Invest added 1.26 million shares, but sell-side firms suggest a 13% downside.
Palantir's stock is likely to extend gains today due to the recent upward momentum, positive Q1 results, and Ark Invest's addition of 1.26 million shares. However, sell-side firms' average price target suggests a 13% downside, which could limit the stock's short-term growth.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100