Palantir Stock Drops 17% From Its High. Wall Street Has Best- and Worst-Case Scenarios for What Happens Next.
Palantir Technologies (NASDAQ: PLTR) stock has advanced 1,880% since the introduction of ChatGPT in late 2022, an event that jump-started the artificial intelligence (AI) boom. But the stock has also fallen 17% from its high because of valuation concerns and a recent rotation away from software stocks.Bulls argue the company provides indispensable analytics and artificial intelligence tools that help commercial enterprises and government agencies make data-driven decisions. Bears argue shares trade at an absurdly expensive valuation because hype (rather than strong fundamentals) has been the primary catalyst for price appreciation.Palantir currently trades at $170 per share, and analysts' share price forecasts range from $50 to $255. That implies 70% downside at the bearish extreme and 50% upside at the bullish extreme. However, the median target price of $200 per share suggests the stock will advance 17% in the next year.Continue readingWeiter zum vollständigen Artikel bei MotleyFool
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Quelle: MotleyFool
