Palantir stock drops another 3% in premarket trading Friday after tumbling 8.4% Thursday.
While further details about the specific factors influencing the decline are not provided, it can be inferred that a general downturn in the stock market contributed to the poor performance of Palantir’s shares.
Shares of Palantir Technologies Inc. have earned an average recommendation of "Reduce" from the fourteen research firms that are presently covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a sell recommendation, six have given a hold recommendation and three have given a buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $12.96.
Several research firms have recently issued reports on PLTR. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Palantir Technologies from $7.00 to $9.00 in a research report on Tuesday, August 8th. Citigroup boosted their target price on shares of Palantir Technologies from $6.00 to $10.00 and gave the stock a "sell" rating in a research report on Monday, August 7th. DA Davidson raised their price objective on Palantir Technologies from $8.50 to $15.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 8th. Mizuho upped their price objective on Palantir Technologies from $14.00 to $16.00 and gave the stock a "neutral" rating in a report on Tuesday, August 8th. Finally, Wedbush reaffirmed an "outperform" rating and set a $25.00 price target on shares of Palantir Technologies in a research note on Tuesday, August 8th.