Let’s discuss Palantir Technologies stock ticker Symbol PLTR. We will go over the newest PLTR stock news that you need to hear right now like how many negative bearish analysts that report on Palantir’s stock are being disproved day by day or why former Palantir employees have left the combat to build their own disruptive companies, and how Palantir is investing into a blockchain technology company which moves Palantir one step closer to adopting Bitcoin as a means to preserve some of their cash on their very well funded balance sheet because Palantir literally has billions of dollars just sitting there doing nothing. Go and destroy the like button for more PLTR stock news updates, comment down below your thoughts on Palantir and if you like the company or not, turn on all subscription notifications to stay informed, and now let’s get right into today’s stories. The author of this article and I are both long-time fans of Palantir and their stock but it seems that investors are losing enthusiasm for this stock because the stock price has been holding a solid consolidation pattern for the last few months. However, I personally think that the PLTR stock has huge upside potential despite what the haters say so I will be proving the naysayers wrong with the data. First I would like to point out that Palantir is a major player in the defense industry which is extremely lucrative. This is one of the reasons why Cathie Wood of Ark Invest loves buying this stock so much because of how important its technology is for the military. This Big data company continuously announces new contract wins from the United States government to provide its military state-of-the-art intelligence information at a moment’s notice. This way soldiers get accurate data quickly which can save their lives. This makes data vital to completing missions which makes Palantir’s capabilities almost invaluable. Palantir uses their Gotham platform for this which links the many vendors that the military uses into data platform so Palantir can analyze important insights from this information. According to one of Palantir’s press releases it says this and I quote. However despite Palantir landing impressive contracts with the US government, how valuable their Gotham platform is for the military, or how much Cathie Wood loves Palantir Wall Street analysts are bearish on the. One point that the bearish analysts repeatedly bring up is how Palantir can potentially lose their Falcon contract with the immigrations and customs enforcement agency which has gained them $111 million since 2013. But if we think about it this contract only really paid Palantir around $13.8 million per year on average. Let’s be honest this is one contract that could be lost and it would barely be felt compared to Palantir’s yearly revenue which is over a billion dollars. Also, Palantir’s technology is very sticky which means that once an entity uses its technology it will be hard to replace it with another technology because of how integrated its capabilities truly are. Even with that being said according to Barron’s a Citi group analyst has a negative view of Palantir by giving a PLTR stock price target of $18 which is around a 21% downside from current prices. Other analysts agree with this price target and they think that PLTR will underperform the market next year. Clearly, I disagree and I would view this as a buying opportunity if the stock fell to $18 but let’s go into why this analyst could be mistaken. Firstly the fair value of the stock was $20 and then it was upgraded by morning star to $28 so a price target below its fair value is hard to believe.
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Disclosure: This video was done by myself, and it expresses my own opinions. This is not investment advice and it should not be taken as investment advice in any way shape or form. I am not receiving any form of compensation for this video from the company or organization that I am expressing opinions about. This video is for entertainment purposes only.
SOURCES: https://investorplace.com/2021/10/buy-pltr-stock-palantir-is-a-defense-contractor-powerhouse/
https://www.fool.com/investing/2021/10/14/is-blend-labs-stock-a-buy-now-how-this-former-pala/
https://www.businesswire.com/news/home/20211006005995/en/Palantir-Introduces-Second-Cohort-of-Foundry-for-Builders-Start-Ups
https://www.thewrap.com/chitra-ragavan-elementus-announcement/
https://www.entrepreneur.com/article/389404