Bank of America has raised its price target for Palantir Technologies (PLTR, Financial) from $55.00 to $75.00. Equity analysts have kept a ‘buy' recommendation due to expectations of further improvement in the data analytics and software company.
This change appears so naked despite receiving varied opinions from other analysts. However, Mizuho downgraded Palantir last week, setting a $37.00 PT on the Security but giving an ‘Underperform' recommendation. While Royal Bank of Canada has a target of $9.00 and an underperforming outlook, Goldman Sachs lifted the target from $16.00 to $41.00 with a neutral recommendation. Wedge also raised the share price forecast from $43 to $45, positioning themselves in more optimistic orientations.
However, under the current circumstances, Palantir looks prudent; 16 analysts assigned it a Hold label with an average target price of $35.6415. Experts still follow the company, which has various government and commercial contracts influencing its results.
The higher or lower fluctuations in Palantir's stock are also dependent on the growth of its commercial segment, which has been challenging for the company recently. Thus, with competition in the data analytics field increasing steadily, investors will be observing how the company continues its leadership.
