The software platform provider Palantir Technologies (NYSE: PLTR) CEO, Alexander Karp, said at the World Economic Forum that many tech workers oppose his company’s dealings with defense and intelligence agencies. He added that he doesn’t want employees in his company who are uneasy with the company’s dealings with government agencies, including the military. Palantir shares have advanced 8% year-to-date.
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The CEO defended his company’s work with the military and other government agencies, saying it helped reduce terrorism and defeat “human rights abuses largely done by adversaries to the West.”
Also, the company reported impressive financials in the third quarter. Revenue rose 22% to $478 million in Q3, slightly above analysts’ expectations. In recent years, the company has diversified into the private sector and, as of the third quarter, is now serving 132 commercial customers, up from 59 a year earlier.
Is PLTR a Buy, Sell, or Hold?
Despite some positive data, analysts are unenthused about PLTR stock. It has a Hold consensus rating on TipRanks based on two Buy, seven Hold, and five Sell recommendations. Further, analysts’ average price target of $8.42 implies 22.03% upside potential.
Our data shows that hedge funds sold 7.3M shares of PLTR last quarter. Meanwhile, it has an Underperform Smart Score of one.
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