Why Raymond James Thinks Palantir (PLTR) Stock Can Double
Source: Spyro the Dragon | Shutterstock.com Palantir (NYSE: PLTR ) stock is trading 3% higher today following an initiation of coverage by investment firm Raymond James. Analyst Brian Gesuale assigned PLTR stock a “strong buy” rating and a price target of $20 . This price target implies upside of more than 90% from current levels. Since the beginning of the year, shares of PLTR have lost over 40% of their market capitalization. However, the company recently confirmed that it will report second-quarter earnings on August 8, before the market opens. Shareholders are hoping the release will propel the stock higher. Analysts on average expect Palantir to post revenue of $470.93 million for Q2 with earnings per share (EPS) of 3 cents. Further, for Q3, analysts also expect revenue of $507.04 million and an EPS figure of 5 cents. With that in mind, let’s get into the details of the analyst upgrade. PLTR Stock Given Price Target of $20 By Raymond James Gesuale characterizes PLTR stock as a “cultural unicorn” with a large addressable market worth $120 billion.
Why Raymond James Thinks Palantir (PLTR) Stock Can Double
Source: Spyro the Dragon | Shutterstock.com Palantir (NYSE: PLTR ) stock is trading 3% higher today following an initiation of coverage by investment firm Raymond James. Analyst Brian Gesuale assigned PLTR stock a “strong buy” rating and a price target of $20 . This price target implies upside of more than 90% from current levels. Since the beginning of the year, shares of PLTR have lost over 40% of their market capitalization. However, the company recently confirmed that it will report second-quarter earnings on August 8, before the market opens. Shareholders are hoping the release will propel the stock higher. Analysts on average expect Palantir to post revenue of $470.93 million for Q2 with earnings per share (EPS) of 3 cents. Further, for Q3, analysts also expect revenue of $507.04 million and an EPS figure of 5 cents. With that in mind, let’s get into the details of the analyst upgrade. PLTR Stock Given Price Target of $20 By Raymond James Gesuale characterizes PLTR stock as a “cultural unicorn” with a large addressable market worth $120 billion.