PLTR - Palantir Could Be A Leader On The Downside In AI Market Correction
2024-06-12 20:40:22 ET
Summary
- Palantir Technologies has been a popular name to own among AI enthusiasts and investors, but its valuation is ahead of projected growth rates.
- I come up with a fair value under $15, which could decline markedly in a recession scenario.
- There is "no room for error" in share pricing, as insiders/management have turned into heavy sellers during 2024, while the technical momentum picture is mixed at best.
Palantir Technologies Inc. ( PLTR ) has been a top choice of artificial intelligence enthusiasts over the past year. However, it's valuation appears to be well ahead of its projected growth rate. Like I mentioned in a previous note of caution back in November here , when the AI investment excitement dies down or corrects in rapid fashion, Palantir could easily be a $15 or lower stock later in the year from today's $24 price. Why not wait for a better entry point, if you want exposure to AI-related names?...
Palantir Could Be A Leader On The Downside In AI Market Correction