To The Moon

Price: 23.70, Change: -0.14, Percent Change: -0.59

$Palantir Technologies$ was in focus on Friday as investment firm Monness, Crespi, Hardt downgraded the enterprise software maker, citing worries in the space.Shares fell 3% in premarket trading.The results from enterprise software companies that reported recently were "largely downbeat," analyst Brian White said. White cut his rating on Palantir to Sell from Neutral and put a $20 price target on the stock.And with the "preeminent" companies in the space, such as Salesforce , Workday and others

** Palantir Technologies shares fall 3.6% to $24.62 premarket after analysts at Monness Crespi Hardt double downgrade the data analytics firm to "sell" from "buy" ** MCH analyst Brian White believes valuation has reached a "a gluttonous extreme" after a near 50% rise YTD and ~167% surge in 2023 ** "On the back of a dismal earnings season for enterprise software and the failure of this 18-month gen AI propaganda cycle to deliver more than de minimis revenue for most companies in the industry, we believe the market will increasingly shun software stocks with excessive valuations," White says ** MCH issues PT of $20; median PT on the stock is $23.50 and avg rating "hold" - LSEG data ** Stock is trading at forward P/E of 70.76

The booming AI revolution is raising expectations through the roof for companies directly engaged in building and expanding the industry. Palantir’...