Palantir Valuation Remains Unattractive Amid Commercial Momentum Durability Concerns, RBC Says

MT Newswires Live
Jul 31

Palantir Technologies (PLTR) valuation remains unattractive amid concerns around the durability of commercial momentum as channel checks indicate clients are rethinking their relationships with the company, RBC Capital Markets said in a research report emailed Friday.

Among the primary concerns is the long-term growth algorithm, which is consistent with RBC's top issue regarding the sustainability of growth amid stiff competition, according to the note. The company will report Q2 results on Aug. 3.

Trends imply a surge in qualified contract value and annual contract value during Q2, following declines in recent quarters, which is not surprising, given the Middle East geopolitical instability, analysts wrote.

The brokerage said it reiterated its underperform rating on the stock and price target of $90 per share.

Price: 120.48, Change: -1.79, Percent Change: -1.46

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