Despite voicing confidence in Palantir’s (NASDAQ: PLTR) positioning in the market after hosting company CFO David Glazer and Chief Architect Akshay Krishnaswamy, Cantor Fitzgerald’s Thomas Blakey reiterated the previous ‘Neutral’ rating for the stock.
Indeed, the Wall Street analyst noted that the technology giant remains ‘uniquely positioned’ for growth due to the evolving artificial intelligence (AI) orchestration layer, while simultaneously developing ‘mission-critical AI operations layers.’
Blakey was especially positive about Palantir’s ‘traction in emerging markets as a leading ontology and orchestration layer for Enterprise AI,’ while also praising the firm’s management for being ‘laser-focused on driving outcomes with stable, visible growth.’
Ultimately, the Cantor Fitzgerald analyst underlined that the ‘Neutral’ rating is ‘strictly due to valuation,’ with the same logic applying to the $138 12-month price target, which, given PLTR stock is changing hands at $137.85 at press time, indicates the company will remain flat.
Analysts predict Palantir stock price in the next 12 months
Zooming out, however, indicates that the majority of Wall Street experts are not as concerned about Palantir’s heightened valuation as Thomas Blakey. Specifically, PLTR shares are, overall, rated as a ‘Moderate Buy’ on the stock analysis platform TipRanks, per the data Finbold retrieved on May 22.
Additionally, the average 12-month price is substantially higher than the $138 forecasted by Cantor, as it anticipates a 34.89% rally to $185.35.
Still, the distribution of ratings signals that confidence that Palantir will be able to retain its valuation is far from universal.
Out of the twenty recommendations issued in the last three months, thirteen position the equity as ‘Buy,’ two as a ‘Sell,’ and five are ‘Neutral.’
Bank of America’s (NYSE: BAC) Mariana Perez Mora became responsible for the most bullish assessment on May 5 when she rated Palantir stock as a ‘Buy,’ while issuing a $255 price target for an 84.98% rally.
On the flip side, Jefferies’ Brent Thill took the role of PLTR shares’ biggest bear on the same day by assigning a ‘Sell’ recommendation and revealing he anticipates a 49.22% correction to $70 in the next 52 weeks.
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