Palantir Technologies (PLTR – Research Report), the Technology sector company, was revisited by a Wall Street analyst yesterday. Analyst Tyler Radke from Citi maintained a Hold rating on the stock and has a $110.00 price target.
Tyler Radke has given his Hold rating due to a combination of factors influencing Palantir Technologies’ current market position. The company has shown promising developments, such as securing multiple new customers and expanding its commercial demand, particularly in the AIP sector. However, despite these positive strides, there are ongoing macroeconomic concerns that could impact the company’s growth trajectory.
Additionally, Palantir’s management is focusing on enhancing product offerings and leveraging technology for automation, which is expected to optimize expenses. Yet, the uncertainty surrounding future expenses and revenue projections, particularly with expected variations in tax rates and expenditure across quarters, suggests a cautious approach. These factors collectively warrant a Hold rating, indicating that while there are growth opportunities, potential risks and uncertainties remain.
In another report released yesterday, Cantor Fitzgerald also maintained a Hold rating on the stock with a $110.00 price target.