Wall Street Analysts Think Palantir Technologies Stock Will Decline by 40% This Year. Are They Right?

Palantir (NASDAQ: PLTR) is one of the hottest artificial intelligence (AI) stocks out there. It has risen an astronomical 362% since the beginning of 2024 and shows little signs of slowing down. However, the consensus among Wall Street analysts is that this stock is significantly overvalued. According to Yahoo! Finance, the average price target among 22 analysts is $46.01. Compared to today's stock price of around $75, that represents a 40% downside. Nobody wants to see their investments decline by nearly half, so understanding where these analysts are coming from is critical. It's not often that a stock is priced this much over analysts' targets.Palantir has become a popular pick in the AI space because it has been in the AI game far longer than most of its competitors. It was founded in 2003 and originally provided AI software to government entities to aid in decision-making. The use case eventually expanded to commercial customers, significantly expanding its market opportunity. Government revenue still makes up the majority of Palantir's total, with Q3's revenue split being $408 million from government clients and $317 million from commercial customers. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool