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UBS analyst Karl Keirstead raised Palantir Technologies' stock price target to $105 from $80, maintaining a Neutral rating after the company reported a 36% revenue increase and a 134% surge in U.S. commercial contract value. Despite trading at 116 times the revised 2026 free cash flow estimate, Palantir's shares rose 23% following strong fourth-quarter earnings, prompting other analysts to also increase their price targets. However, concerns about high valuation multiples persist among some analysts.
UBS analyst Karl Keirstead has raised the price target for Palantir Technologies Inc. (NASDAQ: PLTR) from $80.00 to $105.00. This adjustment reflects a positive outlook for the company in the stock market.
Palantir's stock is gaining attention following reports of its investment in a drone startup. However, analyst commentary remains subdued, and retail investors appear to be staying on the sidelines amid this development.
Stocks are poised to rally as Treasury yields decline, with the Dow, Nasdaq, and S&P 500 showing positive momentum. KB Home shares surged 9% following strong earnings, while Nvidia gained nearly 2% as buyers returned. ServiceTitan's stock fell 3% after reporting a $46.1 million loss, and MicroStrategy's shares rose over 3% as bitcoin prices exceeded $96,000. Palantir Technologies is up nearly 3%, despite Jefferies maintaining an underweight rating with a price target of $28.
Ira Auerbach, former head of digital assets at Nasdaq, has joined Offchain Labs to lead Tandem, the venture capital and partnership division of Arbitrum, focusing on Ethereum scaling. His extensive background in finance and crypto will support selected projects with technical expertise and funding.The Arbitrum Foundation is intensifying its efforts in Asia with the "Road to Devcon" initiative, aiming to engage local developer communities ahead of Devcon 2024 in Bangkok. Meanwhile, Franklin Templeton has launched a blockchain-based money market fund on Arbitrum, highlighting the growing intersection of traditional finance and crypto.
Palantir Technologies has seen its stock soar in 2024, driven by strong demand for its AI solutions, with revenue growth reaching 30% year-over-year. However, analysts caution that the stock's valuation, significantly above its fair value estimate of $21, may not be sustainable, as high expectations could lead to sharp declines if performance falters. The company's shift towards commercial clients aims to create a more stable revenue stream, reducing reliance on volatile government contracts.
Dow futures are struggling to recover as Nvidia shares rise 1.8% after a significant drop, while Palantir Technologies continues to face pressure, down another 2% following a 7.8% decline. Moderna's stock is up over 6% after a near 12% increase on news of the first bird-flu death in the U.S., as the company develops a vaccine. Meanwhile, MicroStrategy shares are down 1.4% after a previous plunge, with Bitcoin prices remaining below $96k.
Elon Musk and Vivek Ramaswamy are spearheading the Congressional Delivering Outstanding Government Efficiency (DOGE) Caucus, aiming to cut federal spending and streamline government operations. Their proposals, which include significant workforce reductions and agency eliminations, have garnered bipartisan interest, with a recent meeting on cost-cutting strategies held on Capitol Hill. Amidst this, the Dogecoin Foundation seeks funding for future development, capitalizing on Musk's ongoing support for the cryptocurrency.
Palantir Technologies emerged as the top-performing AI stock in 2024, soaring 350%, but investors are advised to consider the Invesco QQQ Trust for broader exposure to leading tech stocks. With a strong historical performance and a focus on influential AI companies, QQQ is positioned for continued growth in 2025 and beyond.
Wall Street rebounded on Friday, with the S&P 500 rising 1.3% for its first gain since Christmas, driven by strong performances from Big Tech stocks like Nvidia and Tesla. The Dow Jones gained 339 points, while the Nasdaq jumped 1.8%. However, U.S. Steel fell 6.5% after a blocked acquisition, and alcohol companies dropped following health warnings about cancer risks associated with consumption.
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