Stock Market Today, Feb. 4: Palantir Slides as Valuation Concerns Override Strong Quarter

Palantir Technologies (NASDAQ:PLTR), a data analytics software specialist, closed Wednesday at $139.54, down 11.62%. The stock moved lower as valuation concerns resurfaced despite strong Q4 results and analyst upgrades.Trading volume reached 110.7 million shares, coming in about 136% above its three-month average of 47 million shares. Palantir Technologies IPO'd in 2020 and has grown 1369% since going public.The broader market weakened Wednesday, with the S&P 500 (SNPINDEX: ^GSPC) slipping 0.51% to 6,882, while the Nasdaq Composite (NASDAQINDEX: ^IXIC) fell 1.51% to 22,905. Within software infrastructure names, peers were mixed, as Snowflake (NYSE:SNOW) closed at $165.29 (-4.59%) while Prologis (NYSE:PLD) finished at $134.84 (+2.24%).Palantir shares declined sharply on Wednesday, despite 70% revenue growth to $1.41 billion and two analyst upgrades to Buy. The drop reflected concerns about valuation, as investors questioned the stock's premium compared to other AI software companies and reconsidered how much future growth is already priced in.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool