Palantir Shares Climbed 4% in Morning Trading

Tiger Newspress2022-07-21

Palantir shares climbed 4% in morning trading as Raymond James initiated Palantir as strong buy.

Raymond James analyst Brian Gesuale initiated coverage of Palantir Technologies with a Strong Buy rating and $20 price target.

The company's software platform unifies, manages, and secures data across the enterprise, supporting low code/no code environment that connects business functions to operators, Gesuale tells investors in a research note. After falling 75% from its early 2021 peak, the stock's risk/reward is "compelling" for a software business with a 30% growth rate, gross margin structure in the 80% range with escalating contribution margins, and a balanced commercial and government customer mix, says the analyst. Gesuale says Palantir has a $120B total addressable market, equally split between commercial and government markets.

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