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What Wall Street Analysts Think of Palantir’s Stock Ahead of Earnings [Video]

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Palantir Technologies (PLTR) will report third-quarter earnings after the market closes on Monday, with analysts more bearish than bullish on whether the analytics software provider’s stock can sustain its recent momentum.

Of the 12 analysts covering Palantir tracked by Visible Alpha, only two expect the company’s stock has further to rise. Their price targets range from $16 to $50, with an average of $27.55 implying a 34% drop from Friday’s closing price of $41.92. 

The gloomy projections come amid concerns about whether the stock can keep up the pace of recent gains on the back of strong demand for the company’s Artificial Intelligence Platform.

Palantir reported better-than-expected results for the second quarter and lifted its full-year guidance as sales surged 27% year-over-year. Consensus estimates call for Palantir to report third-quarter revenue growth of 26% to $704.9 million, and earnings per share of 5 cents, up from 3 cents per share a year earlier.

The …

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