Palantir Stock Up Over 60% This Year, But Analyst Says The Story Remains 'Very Undervalued And Misunderstood By The Street'
Portfolio Pulse from Shanthi Rexaline
Palantir Technologies Inc. (NYSE:PLTR) shares have risen over 60% this year. Wedbush analyst Daniel Ives maintains an Outperform rating with a $35 price target and a new bull-case target of $50, citing expanding use cases and rising demand. Palantir is set to report Q2 results on Aug. 5, with expected earnings of 8 cents per share and revenue growth of 22.4%.
July 18, 2024 | 12:20 pm
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Palantir Technologies Inc. (NYSE:PLTR) shares have risen over 60% this year. Wedbush analyst Daniel Ives maintains an Outperform rating with a $35 price target and a new bull-case target of $50, citing expanding use cases and rising demand. Palantir is set to report Q2 results on Aug. 5, with expected earnings of 8 cents per share and revenue growth of 22.4%.
The positive analyst rating and increased price target from Wedbush's Daniel Ives, along with the upcoming earnings report with expected growth, are likely to boost investor sentiment and drive the stock price higher in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100