After making a massive upward move in early February this year, the price of Palantir (NYSE: PLTR) has stagnated, and a popular generative artificial intelligence (AI) model has provided insights that reveal when the big data analytics company’s shares could hit $30.
As it happens, Palantir’s stock soared from $16.72 to $25.05 in the first half of February after the company released its fourth-quarter earnings that surprised analysts’ expectations for revenue and demonstrated strong demand for its AI offerings but has since failed to sustain the rally.
ChatGPT-4o Palantir stock forecast
In this context, Finbold has consulted the latest and most advanced AI model of the OpenAI project ChatGPT, called ChatGPT-4o, for insights into when Palantir shares could achieve the price of $30, to which the chatbot offered an optimistic prognosis that sees this happening in a matter of months. Specifically:
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“If the current positive trends continue and if Palantir surpasses upcoming revenue targets or secures significant new contracts, a price of $30 could realistically be achievable by the end of 2024 or sooner.”
Indeed, its forecast is “consistent with Palantir’s ongoing trajectory and expected performance milestones,” including strong growth, positive technical indicators, certain analysts’ bullish sentiment, and favorable market conditions in the technology sector, as well as “long-term profitability and expansion in commercial ventures.”
Palantir stock price analysis
For the time being, PLTR stock is changing hands at the price of $25.01, recording an increase of 6.15% on the day (but down 0.04% in pre-market), an advance of 3.67% across the past week, adding up to the 15.70% advance on its monthly chart, as well as a 50.81% gain in 2024, as per data on June 18.
Recently, Wall Street analysts have updated their PLTR stock price targets to an average of $22.11 with a prevailing ‘hold’ sentiment, despite Palantir’s new contract with the United States military in late May, which has given its shares significant strength, as Finbold reported on June 17.
All things considered, PLTR shares could reach $30 according to the ChatGPT-4o Palantir stock forecast timing. However, relying on the prognosis of an AI language model alone would be unwise, so doing one’s own research and keeping up with any relevant Palantir news is critical when investing.
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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.
