Argus Research analyst Joseph Bonner downgrades $Palantir (PLTR.US)$ to a hold rating.
According to TipRanks data, the analyst has a success rate of 66.1% and a total average return of 13.8% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Palantir (PLTR.US)$'s main analysts recently are as follows:
It appears that the significant momentum Palantir is expected to experience in 2024 has been previously underestimated, as the company leverages its core technological capabilities, such as data integration and ontology creation, to address bespoke artificial intelligence software challenges for its enterprise clientele. Nevertheless, the current market sentiment seemingly already accounts for considerable achievements with the firm's AIP, prompting further analysis to ascertain the persistence of Palantir's competitive edge.
Palantir's valuation is seen as unsustainable, trading at a multiple far exceeding that of other software companies based on estimated future revenues. Increased insider selling activity has also been observed. While the company's core business remains robust, expectations for maintaining its current stock price would require a continuous and significant growth rate, which is considered improbable.
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