Palantir Technologies (NYSE: PLTR) is set to release its first-quarter earnings report today, following a meteoric rise in its stock price over the past year. The company, known for its association with the artificial intelligence (AI) industry, has seen a staggering 220% return as investors bank on its success in the booming AI market.
Analyst Tyler Radke from Citi recently upgraded Palantir’s stock during the first quarter, citing increased positivity in U.S. commercial momentum and an improved profitability profile. The company’s success with its AI offering is expected to continue in the first quarter, with Radke anticipating further upside from commercial segment momentum.
However, despite the potential for growth, competition from larger players in the data platform industry remains a concern for Palantir’s future monetization and momentum. Revenue expectations for the first quarter suggest a modest beat, with a revised price target of $23 from Radke. Despite the increase, he maintains a Neutral rating on PLTR stock due to its fully valued status.
The sentiment on Wall Street remains mixed, with a Moderate Sell consensus rating for Palantir. Analysts predict that a year from now, shares of the company will be trading at a 21% discount based on the $19.67 average target price.
As Palantir prepares to report its first-quarter results, investors will be watching closely to see if the company can continue its impressive growth in the competitive AI market. Stay tuned for updates on Palantir’s performance after the market closes today.
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