2024-03-14 08:30:00 ET
Summary
- Palantir Technologies Inc.'s commercial segment has outperformed expectations well, capitalizing on the AI-driven momentum.
- The recent Titan deal has likely assured investors that Palantir's government segment could see a reacceleration.
- The market is likely increasingly confident of Palantir's near-term monetization.
- As a result, it should lend credence to its 2024 outlook significantly.
- With Palantir Technologies Inc.'s valuation reaching potentially unjustifiable levels, I explain why investors should consider getting out.
I upgraded my Palantir Technologies Inc. ( PLTR ) thesis in my previous update in January 2024, as I assessed worsening geopolitical strife would keep demand dynamics robust. However, as it consolidated, I also assessed that PLTR's valuation has surged to highly expensive levels. As I monitored its pullback, PLTR saw solid buying support as it avoided a steeper plunge toward the $13.5 level. Consequently, PLTR bottomed out at the mid-$15 level before Palantir released its fourth-quarter earnings release in February, which led to an incredible post-earnings surge....
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For further details see:
Palantir: Irrational Exuberance Reached New Levels (Downgrade)