Palantir Technologies Stock Price remains unsettled ahead of its Double Click Demo event
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UNLOCK OFFER- NYSE:PLTR dropped a further 2.91% on Monday as growth stocks continued to get hammered down.
- Palantir prepares for the Double Click Demo event on April 14th.
- A Wall Street analyst initiates coverage at a lower price point.
NYSE:PLTR has continued to create a tug of war on the markets between retail investors and institutions, making it one of the most hotly contested topics on Wall Street. On Monday, Palantir dropped by 2.91% to close the trading day at $23.34, despite massive bullish sentiment amongst investors. The stock has gained 0.90% in after hours trading as of the time of this writing, so it may be a case of institutions driving down the price during trading hours and then re-buying shares at the discounted rate.
Stay up to speed with hot stocks' news!
Palantir is preparing for another product showcase later this week that it has dubbed the Double Click Demo event. This will show potential partners around the world the capabilities of its Foundry software platform, and how it can work across multiple different industries. The Foundry platform is what Palantir offers to its consumer facing partners which is a side of its business that it has been trying to strengthen ever since becoming a publicly traded company. Palantir also holds multiple government contracts which utilize the company’s Gotham platform instead.
PLTR Stock forecast
Palantir did see a new analyst initiate coverage of its stock last week, and the initial price target was not what shareholders wanted to see. Melius Research, a boutique investment research firm, initiated a price target of $20 for the stock, which represents a 14% decline from Monday’s price levels. Palantir had quite a bit of bullish sentiment from investors heading into this week, but even when the stock showed strength as it approached the closing bell, it was rejected at some key resistance points, which sent shares tumbling back down.
- NYSE:PLTR dropped a further 2.91% on Monday as growth stocks continued to get hammered down.
- Palantir prepares for the Double Click Demo event on April 14th.
- A Wall Street analyst initiates coverage at a lower price point.
NYSE:PLTR has continued to create a tug of war on the markets between retail investors and institutions, making it one of the most hotly contested topics on Wall Street. On Monday, Palantir dropped by 2.91% to close the trading day at $23.34, despite massive bullish sentiment amongst investors. The stock has gained 0.90% in after hours trading as of the time of this writing, so it may be a case of institutions driving down the price during trading hours and then re-buying shares at the discounted rate.
Stay up to speed with hot stocks' news!
Palantir is preparing for another product showcase later this week that it has dubbed the Double Click Demo event. This will show potential partners around the world the capabilities of its Foundry software platform, and how it can work across multiple different industries. The Foundry platform is what Palantir offers to its consumer facing partners which is a side of its business that it has been trying to strengthen ever since becoming a publicly traded company. Palantir also holds multiple government contracts which utilize the company’s Gotham platform instead.
PLTR Stock forecast
Palantir did see a new analyst initiate coverage of its stock last week, and the initial price target was not what shareholders wanted to see. Melius Research, a boutique investment research firm, initiated a price target of $20 for the stock, which represents a 14% decline from Monday’s price levels. Palantir had quite a bit of bullish sentiment from investors heading into this week, but even when the stock showed strength as it approached the closing bell, it was rejected at some key resistance points, which sent shares tumbling back down.
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