- The stock price of Palantir Technologies Inc (NYSE: PLTR) has been increased from $18 to $30 by Jefferies recently. These are the details.
The stock price of Palantir Technologies Inc (NYSE: PLTR) has been increased from $18 to $30 by Jefferies recently. Jefferies analyst Brent Thill also reiterated a “Buy” rating on PLTR.
Thill cited Palantir’s unique nature of high-end data analyst use cases. And the brokerage anticipates 30% growth over the next couple of years along with more than $1 billion revenue scale. Thill believes that PLTR will see expanding profitability.
Some of the analysts who are bearish on Palantir believe that the valuation is too high. But Thill acknowledged that the Palantir stock deserves a premium valuation relative to other high-growth peer stocks. Thill is assuming that Palantir can extract 81% to 82% gross profit margins from estimated sales of $1.4 billion in 2021 and $1.8 billion in 2022 (via TipRanks).
Disclosure: I have a small PLTR position in my stock portfolio.
