On July 2, Palantir Technologies rose 4.24% in regular trading, trading at $131.155/share, with turnover of $926 million. The gain was driven by investment bank DA Davidson upgrading the stock from Neutral to Buy and raising its price target from $165 to $175.
According to analyst consensus polled by FactSet, Palantir currently carries an average rating of Overweight with a mean price target of $190.30, suggesting further upside from current levels. The upgrade follows a string of positive developments including expanded partnerships with NVIDIA for sovereign AI deployment, a strategic collaboration with Zeta Global to build enterprise AI infrastructure, and deepened cooperation with Surf Air Mobility to accelerate AI aviation software commercialization.
The stock has been recovering from a prior pullback, gaining momentum alongside the broader AI application software sector. Notable investor Michael Burry recently disclosed he closed half of his short position in Palantir, though he retains put options on the stock.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
Comments