Strong reaction after the numbers: Palantir’s price rose 28 percent to $21.47 after the start of trading today. The US data analysis specialist presented its quarterly balance sheet after trading yesterday. The first reactions from analysts are now available. A stock market celebrity from the USA also commented.
Well-known presenter and author Jim Cramer (CNBC“Mad Money”) tweeted in reference to the post-earnings conference call with analysts: “Very few CEOs talk about masturbation on conference calls and admit they’re crazy, but I have to admit that Karp’s madness is growing on me and the Palantir narrative is compelling.”
Cramer says he is now on “Team Palantir” after being one of the skeptics for a long time. Back in May 2023, Cramer said of Palantir’s jump to profitability: “It was a clear turning point and I think the stock should rise.”
Analysts are still largely skeptical about Palantir, which is mainly due to its ambitious valuation, but have revalued the stock after the figures. Citi no longer recommends “Sell” but “Hold” – price target: $20. Morgan Stanley remains a “sell” but has raised its price target from nine to twelve dollars. Jefferies advises “Hold” instead of “Sell” and has raised its price target for Palantir from $13 to $22. Only RBC remains chronically bearish (“Sell”, target: five dollars). Wedbush, on the other hand, remains at “Buy” and, according to the figures, has increased the price target for Palantir shares from $25 to $30. Palantir is said to be very far ahead of the competition.
Palantir Technologies (WKN: A2QA4J)
Palantir is an ongoing SHAREHOLDER recommendation and is testing the breakout to a new multi-year high today. Yesterday’s conclusion remains that Palantir could also focus on the $26 mark in a positive overall market.
Book: Jim Cramer – Confessions of a Wall Street Addict
Note on conflicts of interest
The chairman of the board and majority owner of the publisher Börsenmedien AG, Mr. Bernd Förtsch, has taken direct and indirect positions on the following financial instruments or related derivatives mentioned in the publication, which may benefit from any price development resulting from the publication: Palantir Technologies.