- Achievements of Palantir and Dell
- Challenges with Palantir's Profitability
- Analyst Forecasts on Palantir Stock
Since early August, shares of Palantir Technologies (NASDAQ: PLTR) have increased by 26%, reaching $34.04 per share. On September 6th, S&P Dow Jones Indices announced that Palantir and Dell Technologies (NASDAQ: DELL) will join the S&P 500 index on September 23rd.
Achievements of Palantir and Dell
Since early August, Palantir's shares have risen by 26% to $34.04 per share. Year-to-date, PLTR stock is up 105%, while Dell stock has returned 42% value. Bitcoin shares remained relatively stable with a 23% return.
Challenges with Palantir's Profitability
Palantir became profitable in Q4 2022 with a revenue of $1.91 billion for FY 2022. In Q2 2024, the company reported a net income of $134 million. Prior to this, the company faced significant R&D expenses.
Analyst Forecasts on Palantir Stock
Royal Bank of Canada maintains its price target at $9. Goldman Sachs Group gave it a neutral rating with a price range of $14-$16. Nasdaq analysts project an average price target of $25.42, with a low of $9 and a high of $38.
Investors should consider the possibility of a market correction after PLTR is included in the S&P 500 index. Forecasts from different analysts show significant variance.
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