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Analysts revise Palantir (PLTR) stock price target

Analysts revise Palantir (PLTR) stock price target
Ana Zirojevic

As the shares of Palantir (NYSE: PLTR) continue to grow under the influence of positive developments for the revolutionary company combining artificial intelligence (AI) and military technology, Wall Street experts have revised their PLTR stock price targets for the next 12 months.

Indeed, PLTR stocks have recently started to recover from the losses sustained in previous weeks, assisted by a $480 million contract with the United States Army as part of the Maven Smart System project, with work extending through 2029, as Finbold reported on May 30.

At the same time, pseudonymous expert stock trader Lake Geneva Investor has shared exceptionally bullish prognoses for Palantir shares, arguing that PLTR stock price could grow five times in value, which would result in the share price of over $100, citing key catalysts like collaboration with Oracle (NYSE: ORCL).

PLTR stock price prediction

In this context, analysts at Bank of America (NYSE: BAC) and global investment banking firm William Blair have increased their PLTR stock price targets, with BofA analysts assigning it a price target of $28, as well as giving the Palantir Technologies stock a positive ‘buy’ rating.

Meanwhile, William Blair & Company’s team believes that Palantir Technologies’s latest deal with the US Department of Defense will bring in about $90 million on an annual basis, having assigned Palantir shares an underperformance grade, citing poor US commercial revenue growth.

With the recently increased PLTR price goals, the average price target for Palantir shares in the next 12 months stands at $22.11, which, if it comes true, would represent an increase of 3.85% from PLTR share price at press time, with the highest target at $35 (+64.4%) and lowest at $9 (-57.73%).

12-month PLTR stock price targets. Source: TipRanks
12-month PLTR stock price targets. Source: TipRanks

On the other hand, Monness, Crespi, Hardt & Co. analyst Brian White has turned pessimistic on the company’s prospects for the following year, having rated PLTR’s stock as a ‘sell,’ down from ‘hold,’ and issued a 12-month price target of $20. 

As he explained his reasoning, arguing PLTR stock valuation was “egregiously rich” and “excessive,” he wrote that: 

“After a meteoric rise on the [generative artificial intelligence] rocket, back to reality. (…) We believe the darkest days of this economic downturn are ahead of us.”

Palantir stock price today

Currently, PLTR stock is trading at the price of $21.29, recording a 1.27% drop in premarket, a 2.48% gain across the past week whereas on its monthly chart, it has declined 16.44%, according to the most recent data on June 4.

Palantir price 1-week chart. Source: Finbold
Palantir price 1-week chart. Source: Finbold

It is also worth noting that Wall Street veteran analyst Stephen Guilfoyle has recently commented on Palantir’s deal with the US Defense Department, arguing that PLTR stock is a must-buy based on Palantir’s financial fundamentals for the quarter that ended on March 31, 2024. As he explained:

“There is not only no short-term debt on this balance sheet, but no long-term debt either. No debt of any kind. Ever seen a balance sheet this magnificent? You may search, but a quality find like this is rare. This balance sheet, as I have mentioned in the past, is a reason on its own merits to invest in this name.”

Ultimately, Palantir Technologies stock might move in the direction set by Wall Street analysts, but doing one’s own research is critical when investing substantial amounts of money, as experts are not all-knowing, and trends in the stock market could reverse without warning.

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