Palantir Technologies (NASDAQ: PLTR) is an American software company that specializes in big data analytics and artificial intelligent (AI). Its software has been used to investigate terrorist networks, track the spread of infectious diseases, and uncover financial fraud.
Recently, the company has been criticized for its close ties to the US government and for its use of surveillance technology, but the stock is up 217% year to date.
In the pursuit of assessing Palantir’s investment viability, Finbold turned to ChatGPT analysis.
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ChatGPT’s proficiency in predicting stock prices comes from its capacity to process extensive datasets. Trained on a combination of historical stock prices and news articles, the model excels in recognizing patterns and trends that could elude human observation. Here are the analyses and insights it provides regarding Palantir stock price.
A buy or not?
In a typical chatbot fission, the algorithm generated a comparatively balanced answer to whether the stock is a buy:
“Deciding if Palantir is a good investment depends on your individual investment goals and risk tolerance. Palantir is a high-growth stock with a lot of potential, but it is also a risky investment. The company has a history of losses, and its stock price is volatile. If you are a long-term investor who is comfortable with risk, then Palantir may be a good buy for you. However, if you are a risk-averse investor, then you may want to consider other investments,” wrote ChatGPT.
PLTR’s stock price in 2024 will range from $18 to $25, and “this wide range reflects the uncertainty surrounding the company’s future performance and the overall market conditions,” added ChatGPT.
The current stock value stands at $20.27, not far from the predicted median price of $22.4. However, if the expected increase to $25 materializes, it would result in a gain of 23.3% for investors. Conversely, a decrease to $18 would translate to a loss of 11.1%.
When further asked about the underlying reasons for its prediction ChatGPT wrote:
“Palantir’s revenue growth is expected to continue in 2024, driven by increased adoption of its software platforms. The company is still not profitable, but it is expected to narrow its losses in 2024 as it scales its business. [It’s also] expected to launch new products in 2024, which could boost its revenue and improve its competitive position.”
Wall Street’s forecast for PLTR
A synthesis of projections from 20 analysts on TipRanks over the previous quarter indicates a 12-month average price target of $15.18 for Palantir.
This suggests a potential correction of 13.12% from its current price of $20.27, and a ‘Hold’ recommendation. Based on the last three months’ rating, PLTR has received 4 ‘Buy’ ratings, 5 ‘Hold’ ratings and 5 ‘Sell’ ratings.
In the most optimistic scenario, experts project the stock to reach $25, a forecast echoed by ChatGPT. On the other hand, there is a disparity in the lower price target: experts suggest $5, whereas ChatGPT indicates a somewhat higher figure at $18.
Palantir is an emerging company, so accurately predicting its price could be challenging due to various unforeseen challenges. Nevertheless, investors remain interested in the company’s perspective, and its price projection.
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Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
