Palantir (PLTR) shares plummeted to $142.34 due to concerns over high valuations. Shares are down over 20% from their all-time high. Analysts warn of further potential crashes given the stock’s price-sales ratio of over 140x. Insiders have been selling shares, with no buys in the last three months.

Jefferies analyst Brent Thill defended Palantir’s fundamentals, but warned of its unsustainable high valuation. Even at $150, the stock is considered expensive, with potential downside of 60%. The firm’s “Underperform” rating is based on the stock’s stretched multiple, not its strong fundamentals.

Other Wall Street firms also advise against buying Palantir shares at current levels, with a “Hold” consensus rating and a mean target price of $155 suggesting limited upside. Concerns remain over the stock’s sustainability at its current valuation.

Read more at Yahoo Finance: Is Palantir Stock a Buy Below $140?