As previously reported, Monness Crespi upgraded Palantir to Neutral from Sell with no price target ahead of the company’s Q1 report scheduled for May 6. Palantir is well positioned to benefit from the long-term AI trend and capitalize on volatile geopolitics, says the firm. While revenue from government-related contracts has proven “lumpy,” execution has been “spotty,” and the valuation “excessive,” and the firm still believes “the darkest days of this economic quagmire are ahead of us,” it cites the recent decline in the stock for its increased rating as it believes Palantir will at least meet the firm’s Q1 revenue estimate of $620M and EPS forecast of 8c.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PLTR:
- AMZN, NVDA, or PLTR: Which Tech Stock is the Most Attractive AI Pick?
- Palantir pitching ad agencies on utilizing AI technology, Marketing Brew reports
- Palantir designated as Awardable vendor for the Department of Defense
- TipRanks’ All-Star Analyst – Who is the Best on PLTR Stock?
- Palantir announces CO-WY Engine-led team received NSF grant
