Why Palantir Stock Climbed Today

Shares of Palantir Technologies (NYSE: PLTR) rose on Thursday, following positive analyst remarks. By the close of trading, the stock price was up 3.8% after rising as much as 6.3% earlier in the day.

Raymond James Financial analyst Brian Gesuale placed a strong buy rating on Palantir's shares. He sees the data analytics provider's stock price reaching $20 in the year ahead. If he's correct, investors could enjoy gains of more than 90% from the stock's closing price of $10.49 on Thursday.

Gesuale is intrigued by Palantir's ability to help businesses and government agencies aggregate, analyze, and protect their ever-increasing collections of data. He also praised Palantir's moves to simplify its software tools, which should allow it to be used by more people with little to no programming experience.

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Source Fool.com