Analyst Gil Luria of D.A. Davidson maintained a Hold rating on Palantir Technologies (PLTR – Research Report), boosting the price target to $115.00.
Gil Luria has given his Hold rating due to a combination of factors influencing Palantir Technologies’ current market position. While the company reported strong quarterly results with accelerated revenue growth and a record number of high-value deals, the stock’s valuation remains a concern. Palantir’s shares are trading at an exceptionally high multiple compared to its peers, which suggests that the market may have already priced in much of the company’s growth potential.
Despite the positive momentum in Palantir’s US business and the upward revision of its future revenue and income guidance, the elevated stock price poses a risk for investors seeking value. The company’s strong performance and strategic positioning in the data analytics sector are acknowledged, yet the premium valuation warrants a cautious approach. Therefore, Gil Luria maintains a Neutral stance, reflecting a balanced view of the company’s prospects and current market valuation.
In another report released today, Morgan Stanley also maintained a Hold rating on the stock with a $98.00 price target.
PLTR’s price has also changed dramatically for the past six months – from $51.130 to $123.770, which is a 142.07% increase.