From Nasdaq: 2024-05-20 10:05:48

Palantir Technologies (PLTR) faced a significant stock pullback after its recent earnings report, causing debate among investors. Analyst Dan Ives sees this as a “golden buying opportunity.” Palantir’s Q1 results were positive, with a 20.8% increase in revenue and strong customer base expansion. However, full-year sales guidance disappointed some, leading to a 15% stock drop in one day.

On April 18, Palantir discussed using its AI platform for advertising. On April 17, it became an “Awardable” vendor for the Chief Digital and AI Office. Palantir also partnered with Oracle on cloud and AI solutions. Looking at the options market sentiment, there’s a higher preference for call options at the $22.00 strike price, indicating potential for a rise in PLTR stock.

Analysts have a consensus “Hold” rating for Palantir stock, with a mean target price of $20.93. The Street-high price target is $35, suggesting a potential 60.8% rally. With strong performance, absence of debt, bullish options market sentiment, and growth prospects, the recent pullback in PLTR stock seems like a prime buying opportunity.



Read more at Nasdaq: Down 20% from Highs, Should You Buy the Dip in Palantir Stock?