Palantir Stock Continues to Rise as Analysts Grow More Optimistic
Analysts are taking a more optimistic view of Palantir following the release of its better-than-expected Q4 results.
Palantir Technologies (NYSE: PLTR) has been one of the hottest stocks on the market in recent months, and analysts are now starting to warm up to the company as well.
Palantir's recent earnings report surpassed expectations.
Palantir reported better-than-expected Q4 results on February 16, 2023. The company reported revenue of $446 million, which was above the consensus estimate of $433 million. Palantir also reported a non-GAAP loss per share of $0.02, which was better than the consensus estimate of a loss of $0.04 per share.
Palantir's Q4 results were driven by strong growth in its commercial business. The company's commercial revenue grew by 34% year-over-year to $191 million. Palantir also saw strong growth in its government business, with revenue growing by 22% year-over-year to $255 million.
Analysts are becoming more bullish on Palantir.
Following Palantir's strong Q4 results, analysts have started to become more bullish on the company. Several analysts have raised their price targets for Palantir, and some have even initiated coverage of the stock with a buy rating.
For example, Morgan Stanley analyst Keith Weiss raised his price target for Palantir from $12 to $14 following the company's Q4 results. Weiss said that he is impressed with Palantir's strong growth in both its commercial and government businesses.
Goldman Sachs analyst Kash Rangan initiated coverage of Palantir with a buy rating and a price target of $15. Rangan said that he believes that Palantir is a "unique company with a long-term growth opportunity."
Palantir's stock price has been rising steadily.
Palantir's stock price has been rising steadily in recent months. The stock has gained over 50% since the beginning of the year, and it is now trading at around $12 per share.
The rise in Palantir's stock price is likely due to a combination of factors, including the company's strong Q4 results and the growing optimism among analysts.
Conclusion
Palantir is a company with a lot of potential. The company is growing rapidly, and it is profitable. Palantir is also led by a strong management team with a clear vision for the future.
As a result of these factors, analysts are becoming more optimistic about Palantir. The company's stock price has been rising steadily in recent months, and it is likely to continue to rise in the future.
