Palantir Has Potential Said One Analyst

Your capital is at risk when you invest. Never risk more than you can afford to lose. Financial products are complex instruments and come with a high risk of losing money.

Palantir Has Potential Said One Analyst

July 18th, 2024 -

About 2 Mins

Palantir Technologies, a prominent data-analytics firm primarily serving the U.S. government, has significant growth potential according to Wedbush analysts led by Dan Ives.

Throughout this year, Palantir stock has surged 64%, driven by enthusiasm surrounding artificial intelligence. On Thursday morning, it increased by 0.6% in premarket trading to $28.38 while futures tracking the S&P 500 rose slightly by 0.1%.

Despite a general tech selloff on Wednesday, Wedbush maintained an Outperform rating for Palantir with a price target of $35 and suggested that shares could reach as high as $50 if companies continue increasing their AI-related spending.

Wedbush stated: “Palantir is well-positioned to capitalize on this $1 trillion AI spending wave with more applications addressing critical issues across industries and enhancing data-driven decision-making.” They believe that the company’s value remains underestimated and misunderstood.

However, not all analysts share this optimism. Mizuho’s team led by Gregg Moskowitz downgraded Palantir stock from Neutral to Underperform earlier in the week due to concerns that its current valuation is overly inflated.

This content is provided for general information purposes only and is not to be taken as investment advice nor as a recommendation for any security, investment strategy or investment account.

Connect with us

Policies

Support

Business Enquiries

Account Opening / General Client Enquiries

Capital Markets Elite Group (UK) Limited is authorised and regulated by the Financial Conduct Authority (FRN 583632) and registered under the laws of England and Wales, (company number 07832612). Registered Office: 01-101, 51 Eastcheap, London EC3M 1DT, United Kingdom.

Risk Warning: Financial Products are complex instruments and come with a high risk of losing money rapidly due to leverage. 92% of retail investor accounts lose money when trading Financial Products with this provider. Before trading any products supplied by Capital Markets Elite Group (UK) Limited (including subsidiaries and affiliates), you should consider your financial condition, level of experience and risk appetite carefully. You are strongly advised to obtain independent financial, legal and tax advice before proceeding with any leveraged transaction. Nothing in this site should be read or construed as constituting advice on the part of Capital Markets Elite Group (UK) Limited or any of its affiliates, directors, officers or employees. Please read and understand the terms and conditions on Capital Markets Elite Group (UK) Limited website before taking any further action.

Disclaimers: This website is for information purposes only and does not constitute an offer of solicitation for brokerage services, investment advisory services, currency trading advice, commodities trading advice, or other products or services in any jurisdiction where we are not authorized to conduct investment business or where such offer or solicitation would be contrary to the securities laws, commodities laws, or other laws and regulations of that jurisdiction. The risk of loss in electronic trading in securities, currencies, or other commodities can be substantial, and you are advised to consult with your professional advisors before investing.

All prices/fees displayed on this website are in US Dollars.
Platform Fees and Market Data fees for DAS Trader Pro shown here are subject to change at any time.
Platform and Market Data Fees are not pro-rated. Market Data Fees cannot be waived.
Platform and Market Data Fees are deducted on the last day of the calendar month.
Software Fee Rebates are calculated monthly and processed within the first two (2) business days of the new month.
DAS Trader Pro Accounts are enabled with Nasdaq Total View, NYSE and AMEX level two market data. Clients will be required to pay for any additional market data feeds.
Exchanges classify customers as non-professional or professional. Exchange rules require that trusts and organizations (e.g. corporations, partnerships, LLCs and unincorporated businesses) must be classified as professional. Professional Market Data from some exchanges, requires prior approval from the exchange. Non-Professional – is any natural person and cannot be a corporation, trust, organization, institution or partnership account.

The information on this site is not directed at residents of the United States or Canada and is not intended for distribution to or use by any person in any country or jurisdiction where such distribution or use would be contrary to law or regulation.

Your capital is at risk when you invest. Never risk more than you can afford to lose. Financial products are complex instruments and come with a high risk of losing money.