Thursday saw Palantir's share price gain after the company reported its second-quarter earnings.
The company revealed a 49% revenue growth, and customer growth of 13%, with earnings per share coming in at $0.04.
Read: Palantir Stock Forecast
Palantir's shares gained 11.36% on Thursday, closing at $24.89 after initially rising to a high of $25.76 during the session. Cathie Wood's ARK Investment bought around 5.6 million shares of the company during the session.
Since its second-quarter earnings report, some analysts have raised price targets for the stock. Here's what they have had to say…
Jefferies analyst Brent Thill raised Palantir's price target to $30 from $28, keeping a Buy rating after stating that the company reported “impressive” revenue growth. Thill said he continues to expect that Palantir's topline will exceed $4 billion in 2025. The analyst also said that he sees the company “shifting to the next gear on commercial.”
Rishi Jaluria at RBC Capital assumed coverage of Palantir with a Sector Perform rating, setting a price target of $25, up from $20. Jaluria stated that the company's “strong” second-quarter performance was driven by continued strength in the government segment. However, Jaluria does see a “steep valuation” and is concerned with the sustainability of growth at Palantir.
Wolfe Research analyst Alex Zukinalso raised the firm's Palantir price target to $25 from $20, keeping a Peer Perform rating on the shares. Zukinalso said that it was a “solid report” and bookings are “similarly strong.” However, he remains on the sidelines due to the company's valuation and difficulty around growth visibility.
Shares of Palantir are up 0.44% so far on Friday, priced at $25.
Should you invest in Palantir shares?
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