Wall Street sets Palantir (PLTR) stock price for next 12 months
The post Wall Street sets Palantir (PLTR) stock price for next 12 months appeared on BitcoinEthereumNews.com.
Palantir Technologies (NYSE: PLTR) closed the previous trading session on September 6 at $30.33, registering a slight but notable increase of +0.17 (0.56%) for the day. However, the real momentum appears to be building in pre-market trading on September 9, where Palantir has surged to $32.72, reflecting a significant jump of over 6%. Palantir 5-day stock price chart. Source: Finbold In light of Palantir’s scheduled inclusion in the S&P 500, which is set to take place on September 23 as part of the index’s quarterly rebalancing, there is now strong investor enthusiasm and anticipation with the milestone widely viewed as a major validation for the company. Add into the mix that Palantir and bp (NYSE:BP) announced today an enterprise agreement that will extend their strategic relationship and introduce new artificial intelligence (AI) capabilities with Palantir’s AIP software. BREAKING: PALANTIR HAS SIGNED A 5 YEAR EXTENSION WITH ONE OF THEIR EARLIEST COMMERCIAL CLIENTS, BP, TO IMPLEMENT AIP THROUGHOUT THE ENTIRE COMPANY. On Friday, Palantir $PLTR was awarded a spot into the highly exclusive S&P 500 index, representing the top 500 companies in… pic.twitter.com/faNfFbOWcR — amit (@amitisinvesting) September 9, 2024 A look at Palantir’s recent performance Palantir, recognized as a leader in artificial intelligence and machine learning, has been on an incredible run. Since January 2023, its stock has soared by 370%, riding the wave of excitement surrounding generative AI, fueled by innovations like ChatGPT-4o developed by OpenAI. With a market cap of around $68 billion, Palantir’s gains have solidified its position as one of 2024’s top performers, delivering an 82.93% year-to-date return even before today’s pre-market rally. However, despite these substantial gains, Palantir’s valuation is currently eye-popping, trading at 100 times adjusted earnings. This lofty multiple has caused concern among some analysts who question whether the stock can maintain such an elevated valuation. Wall Street’s…
Filed under: News - @ September 9, 2024 11:18 am