29.11.2024 11:15:00

Is Palantir Stock a Buy After a Stellar Quarter?

Palantir Technologies (NASDAQ: PLTR) has been in the news for all the right reasons. On Nov. 4, the company reported stellar third-quarter earnings results. Then, on Nov. 14, the company announced plans to shift its listing from the New York Stock Exchange to the tech-heavy Nasdaq Global Select Market exchange. That occurred on Nov. 26. Palantir has also highlighted expectations of joining the Nasdaq-100, which could bring more index-tracking investors.Wall Street has rewarded Palantir's achievements, and the stock is up by 274% in 2024 as of this writing. This includes over 50% gains since the company's earnings results, despite a slight pullback associated with profit-taking.Analysts, however, are becoming cautious of this high-flying artificial intelligence (AI) stock. Among the 24 analysts covering Palantir stock that The Wall Street Journal tracks, the median target price is $38, implying a downside of 41% at the time of this writing.Continue readingWeiter zum vollständigen Artikel bei MotleyFool

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