- The shares of Palantir Technologies Inc (NYSE: PLTR) have received a price target of $20 by Melius Research. These are the details.
The shares of Palantir Technologies Inc (NYSE: PLTR) have received a price target of $20 by Melius Research. And Melius Research analyst Carter Copeland initiated coverage of Palantir with a “Hold” rating.
Copeland noted that he often bumps into Palantir in the national security space and the “old economy.” And Copeland cited the company’s main platforms, which include Gotham for government applications and Foundry for commercial customers. Both of the platforms skillfully handle data integration and visualization for complex organizations using a bottom-up approach.
Plus Copeland pointed out that Palantir’s software is able to unlock value and enable new capabilities that patchwork solutions cannot replicate. As a result, Palantir’s customers are able to hundreds of millions of dollars.
Even though Copeland is bullish on the company’s growth, he has been questioning the current valuation.
“You have to underwrite very high rates of growth to justify today’s stock price,” wrote Copeland in the research report via Barron’s. So successful government expansion beyond the U.S. Army and a faster ramp up with commercial customer sign-on are “key variables.”
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