Is Palantir Set to Drop Nearly 30%?
Palantir Technologies (NASDAQ: PLTR) has surged in the double-digits this year even as many other tech stocks struggled -- and the artificial intelligence (AI) software company's valuation also has soared. Now, is Palantir set to drop nearly 30% as the average Wall Street forecast suggests? No, Palantir stock isn't necessarily heading for tough times in the months to come.It's true Palantir shares, trading for 237 times forward earnings estimates, are expensive, but it's important to remember this isn't a new phenomenon. Though valuation has climbed in recent times, the stock has been considered pricey over the past few years, and this hasn't slowed down the momentum.This may be due to elements that also support ongoing gains for Palantir, even if the stock takes a pause or pulls back a bit here and there. Let's take a closer look at why Palantir probably isn't heading for a drop of almost 30% in the coming 12 months.Continue reading
Palantir Technologies (NASDAQ: PLTR) has surged in the double-digits this year even as many other tech stocks struggled -- and the artificial intelligence (AI) software company's valuation also has soared. Now, is Palantir set to drop nearly 30% as the average Wall Street forecast suggests? No, Palantir stock isn't necessarily heading for tough times in the months to come.
It's true Palantir shares, trading for 237 times forward earnings estimates, are expensive, but it's important to remember this isn't a new phenomenon. Though valuation has climbed in recent times, the stock has been considered pricey over the past few years, and this hasn't slowed down the momentum.
This may be due to elements that also support ongoing gains for Palantir, even if the stock takes a pause or pulls back a bit here and there. Let's take a closer look at why Palantir probably isn't heading for a drop of almost 30% in the coming 12 months.
