Palantir Technologies Shares Exceed Analyst Target Price Amid Mixed Ratings
In recent trading, shares of Palantir Technologies Inc (Symbol: PLTR) have surpassed the average analyst 12-month target price of $85.11, currently priced at $90.13 per share. When a stock reaches an analyst’s target, they typically have two options: either downgrade based on valuation or revise their target price higher. Analyst responses may also hinge on fundamental business developments that could be propelling the stock’s price upward. If the company appears to be improving, it may warrant an upward adjustment of the target price.
The average target for Palantir Technologies Inc is derived from 18 different analyst estimates within the Zacks coverage universe. However, this average masks a range of opinions; for instance, one analyst has set a target as low as $18.00, while another predicts a high of $141.00. The standard deviation among these targets is $33.933.
The reason for reviewing the average price target is to leverage the “wisdom of crowds,” gathering insights from multiple analysts rather than relying solely on one expert’s viewpoint. With PLTR trading above the average target price of $85.11 per share, investors are prompted to evaluate the company’s prospects. They face a decision: Is $85.11 just a milestone on the way to higher targets, or has the stock become overvalued, suggesting it’s time to consider selling some shares? Below is a summary table of the current analyst ratings on Palantir Technologies Inc:
| Recent PLTR Analyst Ratings Breakdown | ||||
|---|---|---|---|---|
| » | Current | 1 Month Ago | 2 Month Ago | 3 Month Ago |
| Strong buy ratings: | 3 | 2 | 2 | 2 |
| Buy ratings: | 0 | 0 | 0 | 0 |
| Hold ratings: | 10 | 9 | 8 | 6 |
| Sell ratings: | 1 | 2 | 1 | 1 |
| Strong sell ratings: | 5 | 5 | 5 | 5 |
| Average rating: | 3.26 | 3.43 | 3.44 | 3.5 |
The average rating in the table above ranges from 1 to 5, where 1 is a Strong Buy and 5 is a Strong Sell. The data in this article was sourced from Zacks Investment Research via Quandl.com. For the latest Zacks research report on PLTR, click here.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
