Palantir Stock Continues To Climb: What's Going On?
Portfolio Pulse from Adam Eckert
Palantir Technologies Inc (NYSE:PLTR) shares continue to rise, following a more than 30% rally on Tuesday, driven by better-than-expected quarterly results and strong demand for its AI platforms. The company reported a 20% year-over-year increase in fourth-quarter revenue to $608 million, surpassing the consensus estimate. Commercial revenue grew 32%, with U.S. commercial revenue up 70% year-over-year. Analysts from Jefferies, Citigroup, Raymond James, Wedbush, and Mizuho have issued positive updates, upgrading the stock or raising price targets to between $18 and $30 per share.
February 07, 2024 | 4:43 pm
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POSITIVE IMPACT
Palantir's stock continues to rise after reporting better-than-expected Q4 results, with a 20% revenue increase and strong demand for AI platforms. Analysts have upgraded the stock and raised price targets.
The positive momentum for Palantir's stock is primarily due to its Q4 earnings surpassing expectations and the strong demand for its AI platforms. The upgrades and raised price targets by analysts from Jefferies, Citigroup, Raymond James, Wedbush, and Mizuho further contribute to the bullish outlook, indicating a high likelihood of continued short-term price appreciation.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100