Palantir (PLTR) stock is down 8.7% so far this week ahead of the Friday opening bell. Tech stocks like Palantir fared poorly after the Federal Reserve
PLTR stock is sitting right on medium-term support from $13.50 to $14. A recent AIP conference gave Palantir good marks on its move into the LLM space.like Palantir fared poorly after the Federal Reserve on Wednesday said it was still open to further rate hikes later this year and that 2024 would probably see a slower rate-cutting timeline.
Palantir is – even now following the share price pullback of late September – valued at 61 times forward earnings. This valuation profile mixed with a lack of certainty over profitability from Palantir’s much-hyped Artificial Intelligence Platform or AIP gives Palantir a poor risk/reward profile, according to Morgan Stanely’s coverage update.
Wedbush Securities’ Dan Ives, who has a $25 price target on PLTR stock, wrote, “Overall, we believe Palantir is on the golden path for [AIP’s] monetization story on the commercial side and is well-positioned to capitalize on the strong commercial spending tailwinds into 2H23/2024.”
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Nvidia Stock Forecast: NVDA trades lower ahead of Fed announcementNvidia (NVDA) stock is shedding weight once again on Wednesday despite broad market optimism ahead of the Federal Reserve’s interest rate decision. N
Read more »
KB Home stock slips despite earnings beat, raised forecast and 'steady' demandKB Home shares declined after hours Wednesday following an earnings beat, a hiked revenue forecast, and reported steady demand amid rising mortgage rates.
Read more »
| Eisai Co. Ltd. Stock Quote (Japan: Tokyo)4523 | Complete Eisai Co. Ltd. stock news by MarketWatch. View real-time stock prices and stock quotes for a full financial overview.
Read more »
Palantir's CEO has this message for skeptics and believers alikePalantir has become a polarizing stock in the artificial-intelligence era, but its CEO says AI isn't a 'hype cycle' for the companies actually delivering.
Read more »
U.S. stock futures drift higher as traders await Fed decision and Powell's commentsU.S. stock-index futures were higher early Wednesday, with traders in no mood to be brave ahead of the Federal Reserve's interest-rate decision and comments.
Read more »
Jim Cramer's top 10 things to watch in the stock market WednesdayThe Dow, the S&P 500 and the Nasdaq are set for higher opens on Fed decision day after Tuesday's lower closes.
Read more »