Can Palantir Sustain Its 300X Valuation After Climbing 266% This Year?

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Palantir Technologies Inc (NYSE:PLTR) has surged over 40% in the past month, 266% YTD, propelled by a series of high-profile partnerships with industry giants like Microsoft Corp, Amazon.com Inc (NASDAQ:AMZN), and Rio Tinto PLC (NYSE:RIO).

The data analytics and AI powerhouse has set a new 52-week high at $63.39, with investors riding the wave of excitement as Palantir’s collaborations continue to expand its footprint across the mining, defense, and cloud computing sectors.

But with a staggering 300x earnings valuation, Wall Street analysts remain cautious, warning of a potential 37% downside, with a price target around $38.67.

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Author / Journalist: Surbhi Jain

Category: Technology

Markets: United States

Topics: Stories That Matter Pro Project AI RIO Expert Ideas Top Stories Long Ideas Technicals KeyProj Benzinga PLTR Artificial intelligence AMZN Trading Ideas US0231351067 Tech US7672041008

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-14 @ 13:52:35 (1 weeks ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 320 words

Reading Time: 2 minutes read

Sentences: 14 lines

Sentence Length: 23 words per sentence (average)

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Copyright Owner: © Benzinga

News ID: 23586421

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