What's Going On With Palantir Stock Tuesday?
Portfolio Pulse from Adam Eckert
Palantir Technologies Inc (NYSE:PLTR) shares are trading lower after Mizuho downgraded the stock from Neutral to Underperform, despite raising the price target from $21 to $22. The downgrade comes as Palantir shares have surged over 65% year-to-date due to its strong positioning in the AI space. The company is set to report its second-quarter financial results on Aug. 5, with expected earnings of 8 cents per share and revenue of $652.141 million. Despite beating estimates last quarter and raising full-year guidance, the stock has experienced volatility.
July 16, 2024 | 1:07 pm
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Palantir shares are trading lower after Mizuho downgraded the stock from Neutral to Underperform, despite raising the price target from $21 to $22. The downgrade comes as Palantir shares have surged over 65% year-to-date due to its strong positioning in the AI space. The company is set to report its second-quarter financial results on Aug. 5, with expected earnings of 8 cents per share and revenue of $652.141 million.
The downgrade from Mizuho is likely to have a negative short-term impact on Palantir's stock price, despite the raised price target. The market often reacts negatively to downgrades, and the upcoming earnings report adds uncertainty.
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