What's Going On With Palantir Technologies Stock?

Shares of Palantir Technologies Inc (NASDAQ:PLTR) are trading flat Monday morning as investors digest a week that saw the stock hit a new all-time high. The data analytics firm’s stock capped a week of major gains on Friday, closing at a record high after hitting $160.39 intraday.

What To Know: The recent rally was supercharged Friday by a new Overweight rating from Piper Sandler, which initiated coverage with a bullish $170 price target.

This optimism was amplified by CNBC's Jim Cramer, who, after seeing the stock slice through the $150 mark “like a knife through butter,” predicted its “next stop” would be $200. This follows continued bullishness from Wedbush analyst Dan Ives, who sees Palantir on a “golden path to become an AI stalwart.”

Underpinning the momentum are recent business developments. Last week, the U.S. Army awarded the Anduril-Palantir team a contract for a next-generation command and control prototype, with Palantir's share estimated at $30 million. The company also recently launched a strategic alliance with Deloitte to accelerate enterprise AI adoption.

The stock's meteoric rise has been remarkable, with shares soaring nearly 500% in the last year. However, despite the high-profile endorsements and contract wins, the broader analyst consensus remains a Sell with an average price target near $81.

Palantir is meanwhile scheduled to report its quarterly earnings next Monday, August 4, where Wall Street analysts are looking for EPS of 13.8 cents on revenue of $939.71 million.

Benzinga Edge Rankings: According to Benzinga Edge stock rankings, which provide scores to identify a stock’s strengths and weaknesses, Palantir scores exceptionally high on key factors.

The stock boasts a Momentum score of 98.88 and a Growth score of 97.53, indicating very strong recent price performance and a robust growth outlook. Conversely, its Value score is extremely low at 2.39, suggesting the stock is considered expensive relative to its fundamentals.

Price Action: According to data from Benzinga Pro, PLTR shares are trading flat at $158.22 Monday morning. The stock has a 52-week high of $160.39 and a 52-week low of $21.23.

Read Also: How Palantir, Tempus, Nvidia-Backed Recursion Are Disrupting Big Pharma

How To Buy PLTR Stock

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in Palantir Technologies’ case, it is in the Information Technology sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

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