Palantir Technologies has been a captivating yet controversial stock in 2024. As a pioneer in the realm of artificial intelligence (AI), the company is well-positioned to capitalize on the current AI surge. A recent contract with the United States military has provided a significant boost, propelling the stock on a steady upward trajectory.
With Palantir’s current stock price at $23.45, showing a 1.29% increase in the last trading session, PLTR seems poised to surpass the critical resistance level at $23.84. Despite this positive momentum, expert opinions on the company’s market performance remain divided, with some analysts expressing skepticism while others are more optimistic.
Recent assessments by industry experts paint a varied picture. William Blair maintained their ‘underperform’ rating on June 7, while Bank of America reiterated their ‘buy’ rating and set a price target of $28. Renowned analyst Stephen Guilfoyle has taken a bullish stance on Palantir, citing the company’s leadership in software and strategic partnerships with the U.S. military.
Wall Street’s sentiment towards Palantir remains uncertain, with the stock receiving a ‘hold’ rating on TipRanks. Out of 12 analysts, only 2 recommend buying PLTR, while 3 suggest selling and 7 remain neutral. Projections range from a bullish target of $35 to a bearish forecast of $9, with an overall consensus predicting a 6.19% drop to $22.11 in the next 12 months.
