Downgrade Drags Inflated Software Stock
PLTRPalantir Technologies(PLTR) Schaeffers Investment Research·2024-09-23 20:51

Shares of software platform name Palantir Technologies Inc (NYSE:PLTR) are 1.3% lower before the open, following a bear note from Raymond James. The Wall Street analyst downgraded PLTR to "market perform" from "outperform," saying the company needs to "grow into its rich valuation" following the stock's recent surge.Calling it a surge might be an understatement. Palantir stock has so far added 116.7% since the beginning of 2024, and is up 165.7% over the last 12 months. The equity also won 10 of its last 11 ...