Wall Street Expects Palantir Technologies (PLTR) To Bounce Back Following a 23% YTD Decline

Palantir Technologies Inc. (NASDAQ:PLTR) is one of the Stocks Expected to Bounce Back According to Analysts. The stock has fallen around 23% year-to-date. However, Wall Street expects more than 55% upside from the current level.

​Recently, on June 16, Wolfe Research upgraded Palantir Technologies Inc. (NASDAQ:PLTR) from Underperform to Peer Perform as it resumed coverage. The firm didn’t assign a price target. Wolfe noted that they like the fundamentals of Palantir and believe its AI Platform, ontology, and forward-deployed engineers give the company a unique ability to convert AI interest into real and scaled enterprise adoption. The firm noted that this is an area where most of its competitors have failed.

​Wolfe also believes the company’s product is the best market fit for any enterprise software company. The firm only assigned a Hold rating despite the positive outlook, as it believes that Palantir’s current valuation already accounts for much of the improved margins and future growth.

Palantir Technologies Inc. (NASDAQ:PLTR) is a software company that develops and deploys data integration and analytics platforms for government agencies, defense organizations, and enterprise clients. Its notable products include Palantir Gotham, Foundry, and Apollo.

While we acknowledge the risk and potential of PLTR as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than PLTR and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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