1 Wall Street Analyst Thinks Palantir Stock Is Going to $60. Is It a Sell?

Following Palantir Technologies' (NASDAQ: PLTR) recent customer event, Jefferies analyst Brent Hill maintained an underperform (sell) rating on the shares with a $60 price target, implying potential downside of 29% from the current share price.Palantir stock has had an incredible run over the past two years, climbing 971%. The company's artificial intelligence (AI) platform has been in strong demand, but more analysts on Wall Street are starting to sound the alarm on the stock's high valuation.Out of 26 analysts who cover the stock on Wall Street, only eight rate the stock a "buy." The stock trades at a price-to-sales (P/S) multiple of 71, while trading at 441 times earnings and 180 times free cash flow. Those multiples imply sky-high growth expectations that may prove difficult to justify. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool