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.

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