Reported 11 months ago
Argus Research initiated coverage on Palantir Technologies (NYSE: PLTR) stock, giving it a buy rating and a $29 price target, predicting potential gains of 16%. The company has seen a 46% increase in 2024, trading at 25 times sales. Despite the rich valuation and volatility, Palantir's AI software platform is gaining traction with commercial and government customers, poised to capitalize on the growing demand for AI software. Recent government contracts and a strong revenue pipeline in the commercial segment suggest potential for continued growth, making Palantir a consideration for investors seeking a growth stock.
Source: YAHOO