PLTR - AI Is Really Ramping Up Palantir But Caution Warranted
2024-06-14 15:46:18 ET
Summary
- Palantir Technologies Inc. stock was bought twice in 2023, leading to sizable gains, now holding a house position.
- AI growth is strong for Palantir, with recent partnerships and government contracts contributing to revenue growth.
- While the company's performance is positive, the stock is inarguably expensive.
- Some potential red flags on cash flow deterioration relative to customer growth.
We have been in and out of Palantir Technologies Inc. ( PLTR ) stock a number of times. In 2023, we rated this stock a buy twice, both times leading to sizable gains. We now hold what is known as a house position. However, for traders, back in November 2023 we put a near-term tactical sell on the stock in the $20-$21 range, with the goal of returning to the stock around $17....
AI Is Really Ramping Up Palantir, But Caution Warranted