No, Palantir Stock Is Not Done Moving Higher
The tide may have finally turned for Palantir Technologies (NYSE: PLTR). After a massive sell-off during the 2022 bear market, improving financials and its ability to help its clients leverage artificial intelligence (AI) have made its stock increasingly popular with investors. It has risen by around 135% from its 52-week low.
Amid that increase, both analysts and investors have begun to question whether the stock has moved too far, too fast. Still, given the company's improving performance, the downgrade looks more like a buying opportunity than a reason to sell.
Indeed, Palantir stock has risen significantly in a short time, so one can understand why that might give investors pause. It appears that is the consensus among analysts at Raymond James Financial. In a client letter obtained by Investing.com, it cited the increasing challenge of finding a catalyst as well as the higher valuation for the downgrade. The stock fell following that news.
Source Fool.com
