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

Benzinga LogoBenzinga13h ago

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

Quick Summary:

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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Article Details

Author / Journalist: Surbhi Jain

Category: Technology

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-14 @ 13:52:35 (13 hours 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)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Benzinga

News ID: 23586421

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About Benzinga

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Main Topics: Technology

Official Website: benzinga.com

Update Frequency: 28 posts per day

Year Established: 2010

Headquarters: United States

News Last Updated: 8 hours ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #53

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