#Wall #Street #Analysts #Palantirs #Stock #Ahead #Earnings
Key takeaways
- Palantir Technologies will report third-quarter earnings after the closing bell on Monday, with analysts being more bearish than bullish on whether the company’s stock can maintain its recent momentum.
- Of the 12 analysts covering Palantir and tracked by Visible Alpha, only two expect the company’s stock to rise further.
- Palantir shares have doubled in value so far this year, as demand for its artificial intelligence platform soars.
Palantir Technologies (PLTR) will report third-quarter earnings after the market closes on Monday, with analysts being more bearish than bullish on whether the analytics software provider’s stock can maintain its recent momentum.
Of the 12 analysts covering Palantir and tracked by Visible Alpha, only two expect the company’s stock to rise further. Target prices range from $16 to $50, with an average of $27.55, which implies a 34% downside from Friday’s closing price of $41.92.
The bleak outlook comes amid concerns about whether the stock can keep up with the pace of recent gains on the back of strong demand for the company’s artificial intelligence platform.
Palantir reported better-than-expected second-quarter results and raised its full-year guidance with sales up 27% year over year. Consensus estimates call for Palantir to report third-quarter revenue growth of 26% to $704.9 million, and earnings per share of 5 cents, up from 3 cents per share a year earlier.
The stock is up nearly 40% since early September, when S&P Global announced Palantir would join the S&P 500 later that month, and its value has more than doubled since the beginning of the year.
#Wall #Street #Analysts #Palantirs #Stock #Ahead #Earnings
