PLTR - Palantir Stock Is Not Worth The Risk Anymore (Downgrade)
2024-07-02 12:53:33 ET
Summary
- Given its future potential, PLTR could be one of the best AI-related stocks on the market right now.
- PLTR's business shows acceleration in revenue growth due to AIP boot camps, widening margins after first profit six quarters ago, and apparent stability in operational processes.
- Unfortunately for Palantir bulls, even against the backdrop of out-of-consensus bullish expectations, PLTR seems to be too expensive to ignore and just "buy" it at today's prices.
- I decide to downgrade Palantir to "Hold", even though I believe the company is doing its job right and has a lot of room to grow.
My Thesis Update
I initiated coverage of Palantir Technologies, Inc. ( PLTR ) stock back in January 2024 with a "Buy" rating, reiterating it 3 months ago on April 9, 2024 . Since the publication of my most recent article, the PLTR stock has managed to grow significantly on the back of its strong report, the details of which I'm looking forward to going through today....
Palantir Stock Is Not Worth The Risk Anymore (Downgrade)