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Why Palantir Stock Dropped Today

TheMotleyFool

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Shares of Palantir Technologies (NYSE: PLTR) fell 7% on Wednesday, following bearish analyst commentary.

Palantir's revenue climbed 36% year over year to $392 million in the third quarter. That marked a notable deceleration from the 49% growth the data software provider delivered in the second quarter.

The slowdown was enough for RBC Capital analyst Rishi Jaluria to cut his rating on Palantir's stock from sector perform to underperform and slash his share price forecast from $25 to $19.

Source Fool.com

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