One Wedbush Securities analyst highlighted Palantir (NYSE:PLTR) stock as a potential amid its surprise selloff. Indeed, according to analyst Dan Ives, its recent losses are paving the way for strong AI-based growth, something Palantir’s first-quarter earnings results are a testament to.
“We are laser focused on the AI story playing out with [Artificial Intelligence Platform] leading the way and Palantir delivered robust numbers on this front yet again,” Ives noted. “We believe any modest sell-off post print is a golden buying opportunity for this pure play AI name.”
Ives holds a $35 price target on Palantir stock with an “outperform” rating. PLTR stock is currently trading for about $21.50 per share, implying more than 60% upside.
PLTR Stock Sinks Despite Earnings Win
This data analytics company had a generally showing Monday evening, beating sales expectations by notable margins. Palantir also raised its full-year guidance to between $2.677 billion and $2.689 billion, up from a prior range of between $2.652 billion and $2.668 billion.
For its quarter ended March 31, Palantir earned an adjusted 8 cents per share on revenue of $634.33 million, which was a more than 20% year-over-year (YOY) increase.
“For comparison, we now earn more profit in a single quarter than the amount of revenue we generated in an entire year a little more than a decade ago,” said CEO Alex Karp in a .
Despite the strong advocation, PLTR stock is in the midst of a brutal selloff today, down 14% as of this writing. It’s unclear exactly what is fueling the bears today, although some analysts are unconvinced that the stock’s dip today truly represents a promising opportunity.
Indeed, professional investor Daniel Jones believes that PLTR is still While Jones concedes that its Q1 was excellent for the company and investors, he believes its current revenue and cash flow growth suggest shares are too expensive to justify the investment.
On the date of publication, Shrey Dua did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the 黑料正能量.com Publishing Guidelines.
