Palantir management changes concerning into results, says Citi

Citi analyst Tyler Radke reiterates a Sell rating on Palantir Technologies with a $5 price target after the company disclosed the departure of its Chief Accounting Officer, along with some other management changes. "These changes are unusual and curious in timing," the analyst tells investors in a research note. The firm’s initial read on the news is cautious. The sudden CAO departure "gives us some pause, while sales leadership changes post quarter often can indicate an attempt to shore up performance," writes Citi. It believes the management change "could indicate fundamentals are less robust."