Palantir Technologies Inc. (NASDAQ:PLTR) is one of the Stocks Expected to Bounce Back According to Analysts.
The stock has fallen around 23% year-to-date
However, Wall Street expects more than 55% upside from the current level. Recently, on June 16, Wolfe Research upgraded Palantir Technologies Inc. (NASDAQ:PLTR) from Underperform to Peer Perform as it resumed coverage. The firm didn’t assign a price target.
Wolfe noted that they like the fundamentals of Palantir and believe its AI Platform, ontology, and forward-deployed engineers give the company a unique ability to convert AI interest into real and scaled enterprise adoption. The firm noted that this is an area where most of its competitors have failed. Wolfe also believes the company’s product is the best market fit for any enterprise software company.