PLTR - Palantir: Buy The Drop (Technical Analysis)

2024-05-08 08:30:00 ET

Summary

• Palantir's shares have dropped after the release of its first quarter report, but the size of these declines seems unwarranted.
• The company reported solid revenues of $634 million, beating analyst expectations, and Palantir has generated net profits during each of the last six quarterly periods.
• Palantir's guidance figures for the second quarter and full-year periods were slightly disappointing, but its strategic approach is well-defined and recent declines in share values could be a buying opportunity.

Palantir Technologies (PLTR) shares have plummeted following the release of the technology defense company’s first quarter earnings report. However, the size of these declines seems to be unwarranted, and we believe that the stock is looking like a good buying opportunity at these lower levels....

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