Palantir Stock offers “one of kind growth.” Should I buy a pltr here?

Palantir (PLTR) stock is extending profits today after Piper Sandler analysts began reporting on big data analytics companies with a “overweight” rating.

In his research notes, Brent Breserin announced a $170 price target on the PLTR, showing a potential rise of another 8% from here.

Bracelin’s bullish call is important given that Palantir stock has already risen by around 150% against a low set from the start of the year in mid-January.

Brent Bracelin agreed that more than 400 times the multiples of PLTR stocks will be “high-risk” investments, with many positive price revenues (P/E).

But investors nevertheless have to own them as they offer a “unique growth and margin model” that “would grow to $24 billion if durable by 2032.”

Piper Sandler analysts called the explosive gatherings of Palantir Stock over the past three months “the rise of the Phoenix moment,” emphasising that the AI should not be defined as an “all-star” by ratings alone.

On Friday, the investment company will be called to see Palantir share with a “secular winner” in the artificial intelligence field.

According to Brent Bracelin, NASDAQ-listed companies are pushing even further to the fore as they continue to win shares “over a total addressable market of over $1 trillion.”

Piper Sandler’s bullish memo arrives a week before PLTR plans to report second-quarter revenue. The consensus is that the company wins $0.08 per share, more than 150% more than the $0.03 per share won in the same period last year.

If the Denver-based company beats these estimates, it could examine Piper Sandler’s positive views and cause another leg in the PLTR stock.

However, investors should note that other Wall Street companies recommend withdrawing PLTR stocks from early April following the Meteor rally.

The consensus rating for Palantir stock is currently on “hold,” with an average target of around $107, indicating a potential downside of 30% or more from its current level.

On the date of publication, Wajeeh Khan had no position (directly or indirectly) in any of the securities mentioned in this article. All information and data in this article is for informational purposes only. This article was originally published barchart.com