Wall Street Thinks Palantir's Stock Has 26% Upside. Should You Buy?
Data analysis specialist Palantir (NYSE: PLTR), a former meme stock, has fallen on hard times. Once, it traded for nearly $40; now, it sits around $8, about 80% off from its all-time high. However, the stock's average Wall Street analyst price target is $10.28, a 26.5% upside from today's prices.
Are these analysts correct in their thinking about this tech stock? Or will there be more pain ahead for Palantir? Let's dig in and find out.
Palantir's platform is used by businesses and governments to process massive amounts of data and pinpoint trends to guide decisions. In fact, its namesake was derived from the Palantir seeing stones from The Lord of the Rings book and movies, which give its users the ability to see all. Originally, Palantir's software was only used by government agencies (like the FBI, CIA, and NSA) and reportedly helped pinpoint Osama bin Laden's hideout -- although these reports were neither confirmed nor denied by Palantir.
Source Fool.com
