What's Going On With Palantir Technologies Stock Today? - Palantir Technologies (NYSE:PLTR)

Original Article:

Source: Link

Palantir Technologies Inc. PLTR shares are trading lower on Tuesday. According to Benzinga Pro, PLTR stock has gained over 32% in the past year. Investors can gain exposure to the stock via REX AI Equity Premium Income ETF AIPI and Global X Funds Global X Defense Tech ETF SHLD. Citigroup analyst Tyler Radke maintains Palantir with a Neutral and raises the price target from $25 to $28. Palantir is due to report second-quarter financial results on Aug. 5. According to Benzinga Pro estimates, the company is expected to report earnings of 8 cents per share and revenue of $652.141 million. Based on data, Radke sees a constructive medium-term for the stock as a beneficiary of GenAI green shoots. Also Read: Will Powell Hint At September Rate Cut? What Major US Investment Banks Expect From Fed Meeting However, the analyst sees the second quarter to be somewhat choppy. Yesterday, the firm announced a multi-year partnership in which Tree Energy Solutions will leverage Palantir’s AI software in supply chain management, simulation and scenario modeling for investment optimization, site selection, asset management, carbon emissions tracking, and modeling the energy transformation pipeline. Last quarter, Palantir turned in its sixth consecutive quarter of GAAP profitability, beating analyst estimates as revenue grew 21% year-over-year. Wedbush analyst Dan Ives recently set a new bull-case price target of $50 on Palantir shares, noting that the Palantir story “remains very undervalued and misunderstood by the Street.” Price Action: PLTR shares are trading lower by 2.99% to $26.27 at last check Tuesday. Image via Shutterstock Read Next: