Analysts downgraded data analysis software manufacturer Palantia Technologies (PLTR) on Thursday. Palantia shares fell steadily.
Brian White, an analyst at Moness Crespi Hart & CompanyPalantia shares were downgraded from neutral to selling. The target share price is $20.
In his report, he said, “Against the backdrop of an unprecedented generative AI hype cycle, Palantia skyrocketed in 2023, and the upward trend in stock prices continues in 2024. The company is surprisingly overrated.”
Palantia shares to rise 43% in 2024
On Thursday's stock market, PLTR shares fell 6.1% and closed at 23.01. As of the end of the market on Wednesday, Palantia shares had risen nearly 43% in 2024. However, the stock price has retreated from the high price of 27.50 hit on March 7.
Established in 2003, Palantia has already unearthed AI opportunities along with government clients for intelligence gathering, counterterrorism, and military purposes. And now, Palantia is using generative AI to spur growth in the commercial market...

It's a scum stock that can't be helped 🥸

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