Palantir (PLTR) is on the move, as hoped.
As we noted on May 9, “At the moment, Palantir Technologies (PLTR) is gaining a good deal of momentum. All thanks to earnings, expectations for profitability, and artificial intelligence. In its latest quarter, the company posted an EPS of five cents, beating expectations for four cents. Sales were up to $525 million, as compared to expectations for $506 million.”
At the time, PLTR traded at $9.55. Now, it’s up to $15.38 and running. Helping, Bank of America analysts just raised their price target to $18 from $13. The firm says PLTR has a “unique position” to take advantage of the “rising AI opportunity,” reiterating a buy rating.