Palantir Technologies (PLTR): Stock Price and Forecast: CEO to appear on CNBC 1900 GMT

Update March 16: Palantir CEO Alex Karp is to appear on CNBC on Tuesday It was reported by Benzinga that Alex Karp is due to appear after 1900 GMT. Palantir shares are down 4% in Tuesday's session, trading at $25.67.

Update March 11: Palantir (PLTR) announced it has entered into a long-term, strategic partnership with Faurecia. Faurecia is a global automotive parts player focusing on seating. 

“The partnership with Palantir will trigger a major new step in our digital transformation, allowing to robustly scale our digitalization actions. Developing and strengthening our large-scale data capture and analysis will further increase agility, enhance the use of artificial intelligence and increase decision support and automation in Faurecia,” said Grégoire Ferré, Cockpit of the Future and Digital Services Factory Senior Vice President.

“The range of uses for Foundry across Faurecia shows the breadth of practical applications for our software in the manufacturing and automotive sectors,” said Palantir COO Shyam Sankar. “We are proud to partner with Faurecia in its mission to improve the efficiency of its products as well as its environmental footprint.”

The current Palantir share price is at $26.65 on Thursday, up 7.6%.

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PLTR Stocks News

ARK Invest has been one of the best performing, well known ETF's recently and is closely watched. On Wednesday ARK Invest posted that it had purchased a further 2.6 million shares in Palantir. This is in addition to earlier purchases by ARK Invest of 3.3 million shares in PLTR on February 26, 5.2 million shares purchased on February 18, and a purchase of 1.5 million shares on February 16. Cathie Wood had appeared on CNBC in mid-February speaking in relation to the earlier price spike in Planaitr that saw the share price move from $25 to $45 in a matter of days she said "if short-term is in focus, best to stay away from Palantir", but noted some key developments as they have "started in government", highlighting Palantir's security community and military client list.

Q4 results from Palantir had appeared to disappoint investors as the company reported a loss of $156 million. However, the surge in the share price was always likely to mean results would struggle to keep up and so it proved.

Post results Goldman Sachs liked what it saw saying guidance for $4 billion in revenue by 2025 was encouraging. Goldman upgraded the stock from neutral to buy and increased their price target from $13 to $34.  "With improving visibility into near- and long-term growth, we believe PLTR should trade more in line with 30%+ growth businesses, which are trading at 44x CY21 sales, our new target multiple for PLTR on SNTM sales," Goldman said. 

PLTR Stock Forecast

Palantir has been struggling to regain its earlier bullishness on the chart, failing to hold above $25. Recently the lock-up period expired. The founders and senior executives were prevented from selling shares until after Q4 results and some selling has been seen from this group. But clearly, investor interest has been peaked by Cathie Wood and Goldman Sachs both being positive on the stock. 

Technically PLTR shares need to break above the $25-$26 resistance area. $25.85 is the opening print from Jan 22 when PLTR shares exploded up by 25%. A break here will run into some resistance at $26.97 before then clearing to $30 as the next target and resistance. PLTR really needs to stay above $22.47 to maintain its bullish hopes and consolidation pattern.

Previous updates

Update March 9: Technologies Inc (NYSE: PLTR) is jumping some 6% to an intraday peak of $24.02, paring some of its losses from recent days. After the Ark swings came and went, shares of the Denver-based company are moving to the swings of the NASDAQ – and to buying originating from China. Authorities in Beijing are attempting to shore up shares and perhaps filling in for the Fed.

Palantir stock struggled to regain bullish sentiment yesterday as the stock was boosted by news of further purchase of PLTR by Cathie Wood of ARK Invest. Palantir shares closed at $24.73, up nearly 5$ on the day. 

At the time of writing PLTR stock is trading at $23.99 down 3% in Friday's pre-market.

Update: Palantir shares finished the day on Friday nearly 3% lower but it could have been a lot worse. Markets bounced sharply from mid-afternoon lows as profit-taking and bargain hunting in mega-cap tech names helped all stocks higher. Palantir closed at $23.95, down 3.15% having been as low as $20.18 earlier on Friday.

Update: Shares in Palantir struggled for momentum on Monday as the tech sector in general, fell behind the broader market. Shares in Palantir are trading $23.93 down 0.1% on Monday. ARK Invest has been buying large blocks of PLTR of late but the in-vogue ETF has been struggling of late as the tech sector suffers. 

Update: Palantir Technologies Inc (NYSE: PLTR) shares shed another 5.97% on Monday, closing at $22.57. The somewhat secretive data analytics company has been swept lower by a broader sell-off in tech stocks as investors rotate back to cyclical stocks. Afterhours trading figures are pointing to a minor bounce of 0.40%. However, China's intervention in domestic tech equities and higher implied volatility on PLTR may result in an upswing on Tuesday.

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