Shares of Palantir Technologies Inc (NYSE:PLTR) dropped more than 5% on Monday after Morgan Stanley (NYSE:MS) analysts initiated coverage with an 'Underweight' rating and a $60 price target. Analysts cited concerns about the stock's valuation and limited near-term growth potential despite its 340% surge in 2024, which Morgan Stanley noted was driven primarily by multiple expansion rather than substantial revenue gains.
Morgan Stanley renewed coverage of Palantir with an underweight rating citing valuation. Palantir stock tumbled on the news.
Jim Cramers breaks down why he's keeping an eye on shares of Palantir.
With the advent of the artificial intelligence revolution, semiconductor stocks have largely seen huge returns, as they're essential for building out the necessary infrastructure. However, one pure-play AI company has managed to outshine them all — and that's Palantir (NASDAQ: PLTR).
Sorting through what is signal and what is noise as an investor is a key part of being successful. When you see a glaring signal, not acting on it can be a disaster.
When it comes to artificial intelligence (AI), odds are you think about "Magnificent Seven" stocks such as Microsoft, Nvidia, or Tesla simply by default. But in 2024, one smaller player emerged from the deepest corners of the AI realm and propelled itself into the spotlight.
Morgan Stanley assigned a new analyst to cover hot artificial intelligence stock Palantir Technologies, and the Wall Street firm joined the ranks forecasting worse times ahead for the stock.
Palantir Technologies was the best-performing member of the S&P 500 (^GSPC 1.26%) in 2024. Its share price surged 340% last year as growing demand for its artificial intelligence platform excited investors.
Palantir Technologies (PLTR 6.25%) didn't join the S&P 500 until September 2024. But with a staggering gain of 340%, the stock still managed to end the year as the best-performing stock in the index.
It's official: 2024 is in the books and all eyes are on what this year will bring.
Palantir (PLTR 6.25%) stock posted another month of strong gains in December's trading. The company closed out the period with its share price up 12.7%, according to data from S&P Global Market Intelligence.
Palantir (PLTR 6.25%) was one of the best-performing stocks of 2024. The analytics and software management platform for government agencies, the military, and big business soared 340% for the year and sports a market cap of $167 billion as of this writing.