Palantir Stock Slides 7.5% as Morgan Stanley Downgrades Palantir to Sell

Tiger Newspress2023-08-31

Palantir stock slides 7.5% in morning trading on Thursday.

Morgan Stanley downgraded Palantir Technologies to Underweight and raised the price target on the stock to $9 from $8.

The analysts said that near-term optimism in AI product cycle and valuation premium creates an unfavorable risk-reward in the stock, as visibility on AIP monetization still remains low, the government segment seems unlikely to provide an offset and estimates already imply a H2 re-acceleration.

The analysts noted that their view is based on — expected delays in AIP revenue contribution given management commentary which Palantir has yet to figure out how to monetize it; risk that the government business may not be able to offset a top-line deceleration, after recently beginning to deteriorate;

In addition, the analysts view is also predicated on — a difficult setup into the H2 as revenue outlook already implies an acceleration in estimated organic revenue growth (ex-strategic investments and Japan JV contribution), which sets a higher bar for the positive estimate revision needed to justify valuation.

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judyspt
2023-08-31
judyspt
Manipulating
Merdeka1981
2023-08-31
Merdeka1981
And I'm very sure those guys from Morgan Stanley are secretly buying up Palantir as they do this downgrade. Lol...

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