Are you keeping tabs on PLTR stock? Well, it just got downgraded again! Don’t worry, we have got you covered with all the latest Palantir Stock news update and analysis, along with price targets. Keep reading to stay ahead of the game and make informed decisions.
Introduction #
Are you interested in the stock market? Have you heard about Palantir Technologies Inc. (NYSE:PLTR) and its recent downgrade? If you’re an investor or just someone who’s curious about the stock market, you may have been following the news about this company. In this article, we’ll dive into the latest news about PLTR stock, including the recent downgrade, the current price target, and its performance in the market.
The Recent Downgrade #
First, let’s talk about the recent downgrade of Palantir Technologies Inc. Raymond James analysts downgraded the stock, which caused some concern in the market. However, the stock is still rated “outperform,” which is better than the consensus rating of “hold.” Despite the downgrade, there is still some positive sentiment around the stock.
The 12-Month Price Target and Performance #
Raymond James has raised the 12-month price target for PLTR stock from $15 per share to $18 per share. This potential 10.4% increase was initially good news for the stock, which soared after the announcement. However, the stock eventually dropped by 2.2%. The stock has been experiencing a downward trend and is currently in “correction” territory with three consecutive losses. Additionally, PLTR has shed 12% since reaching its 17-month high of $16.60 on June 15.
Trading Volume and Bear Market #
It’s important to note that the daily trading volume for PLTR stock changed hands 31 million times, which is less than the average daily trading volume of around 65.6 million shares. If PLTR stock dropped below $13.28, it could enter a bear market. This is something to keep an eye on if you’re invested in the company.
Conclusion #
In conclusion, Palantir Technologies Inc. has experienced a bit of a rollercoaster ride in recent weeks. The recent downgrade by Raymond James caused some initial concern, but the stock is still rated “outperform” and the 12-month price target has been raised. However, PLTR stock has been on a downward trend and is currently in “correction” territory with three consecutive losses. The trading volume has been lower than average, and there is a risk of entering a bear market if the price drops below $13.28. If you’re invested in PLTR or considering investing, it’s important to keep track of these updates and make informed decisions.
