Citi analyst Tyler Radke has maintained their neutral stance on PLTR stock, giving a Hold rating today.
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Tyler Radke has given his Hold rating due to a combination of factors related to Palantir Technologies’ recent performance and future outlook. One of the key considerations is the decrease in bookings duration, which suggests potential challenges in securing long-term commitments from clients. Additionally, while the US Commercial Remaining Deal Value showed significant year-over-year and quarter-over-quarter growth, the sustainability of such growth remains uncertain.
Another factor influencing the Hold rating is the variability in other income, as evidenced by a notable $21 million increase in the third quarter that is not expected to recur consistently. Furthermore, while Palantir has delivered earnings beats in recent quarters, the exceptional 9% beat is not anticipated to be the norm moving forward. The company’s focus on delivering tangible value and expanding use cases is promising, yet the impact of external factors such as government shutdowns on new contract starts adds an element of uncertainty. Overall, while there is excitement about the product pipeline, the timing and realization of new opportunities remain unclear, justifying a cautious Hold stance.
In another report released today, Mizuho Securities also maintained a Hold rating on the stock with a $205.00 price target.