Palantir Eyes 2nd Weekly Loss In A Row Amid Valuation Worries

Blockhead12-20 23:24

Palantir stock traded sideways Friday as shares of the AI powerhouse eyed a second consecutive weekly loss. At the open Palantir (PLTR) was mostly flat, last down a fraction in early morning trades, ...

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Palantir stock was poised to end the week with a loss of more of than 3%, according to IBD MarketSurge.\n\n\n\n↑\nX\n\n\n\n\nIndexes Fade After Strong Start: GE Vernova, Doximity, PRIM In Focus\n\n\nSee All Videos\n\n\n\n\nNOW PLAYING\nIndexes Fade After Strong Start: GE Vernova, Doximity, PRIM In Focus\n\n\n\n\nPalantir had rallied Thursday after announcing a major U.S. Army contract extension. But the stock retreated again amid a growing chorus of downbeat views about Palantir's valuation.\nUBS analyst Karl Keirstead initiated coverage of Palantir with a neutral rating and 80 price target. Keirstead said he had \"a very positive view\" of Palantir's fundamentals given the company's strong position in AI.\n\"Customers and other checks were almost all bullish on Palantir's model,\" Keirstead wrote in a Wednesday note.\nBut estimates for Palantir were \"simply too high a hurdle to get over, and we don't mind staying patient for a better entry point,\" he added.\nThat view was echoed by William Blair analyst Louie DiPalma, who reiterated an underperform rating on Palantir stock saying, \"Risks to the upside include momentum, optimism associated with the new Trump administration, and the impact of artificial intelligence on Palantir's business.\"\nLast week, Baird analyst William Power also warned against chasing Palantir stock gains. He noted shares have outpaced the S&P 500 big time, \"suggesting high expectations, though we also acknowledge the strong, accelerating operating momentum.\"\nPalantir stock was still trading above its 21-day and 50-day averages, according to IBD MarketSurge. The shares maintained a perfect 99 Relative Strength Rating. The stock was up more than 300% year to date.\n\nYOU MAY ALSO LIKE\nNovo Crashes 20% After New Obesity Drug Misses Forecasts. Lilly, Viking, Amgen Jump.\nStrong AI Data-Center Business Not Enough To Help Micron\nIBD Live: A New Tool For Daily Stock Market Analysis\nUBS Initiates At Neutral. 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