Nvidia Vs. Palantir: Which AI Stock Has More Upside Potential?
Portfolio Pulse from Surbhi Jain
NVIDIA Corp (NVDA) and Palantir Technologies Inc (PLTR) are both AI-focused stocks that have seen significant gains in 2023, with NVDA up 245% and PLTR up 168%. NVDA is currently trading around $490 with a consensus price target of $600, indicating a potential upside of over 20%. Analyst Vivek Arya from BofA Securities is optimistic about NVDA's future due to strong free cash flow and a shift to recurring revenue. PLTR, trading around $16, has a consensus price target of $13.21, suggesting a potential downside. Jefferies analyst Brent Hill downgraded PLTR due to concerns over AI hype and unclear monetization strategy. Analyst consensus and a forward P/E ratio comparison suggest NVDA may offer more upside potential in 2024, while PLTR is considered riskier with a trailing P/E of 228.29.
January 08, 2024 | 4:33 pm
News sentiment analysis
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NEGATIVE IMPACT
Palantir Technologies is trading around $16 with a consensus price target of $13.21, indicating a potential downside. The stock is considered overhyped and risky by analysts.
The downgrade by Jefferies and the consensus price target below the current trading price reflect a negative outlook for PLTR, suggesting a potential short-term decline in stock price.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 90
POSITIVE IMPACT
NVIDIA Corp is trading around $490 with a consensus price target of $600, indicating over 20% potential upside. Analysts are bullish, citing strong free cash flow and recurring revenue strategy.
The positive sentiment from analysts, including the bullish outlook from BofA Securities and the consensus price target above the current trading price, suggest a strong potential for short-term upside.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 90