William Blair analyst Louie DiPalma has maintained their neutral stance on PLTR stock, giving a Hold rating on June 12.
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Louie DiPalma has given his Hold rating due to a combination of factors influencing Palantir Technologies. One significant consideration is the recent contract awarded to OpenAI by the Department of Defense, which marks a major milestone for OpenAI and could signal increased competition for Palantir in the future. This development may impact Palantir’s market position, especially if OpenAI successfully expands into areas traditionally dominated by Palantir.
Moreover, Palantir’s current valuation appears to be quite high, and the recent upward trend in its stock price might not be sustainable given the potential for increased competition. While Palantir has been a leader in securing AI-related contracts with the Department of Defense, the evolving landscape suggests that maintaining this dominance could become more challenging. These factors collectively contribute to the Hold rating, as the potential risks and rewards appear balanced at this time.
In another report released on June 12, Citi also maintained a Hold rating on the stock with a $115.00 price target.
Based on the recent corporate insider activity of 116 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PLTR in relation to earlier this year.