Palantir Shares Are Defying Increasingly Skeptical Analysts
- Stock is up 47% in boost from results and Trump’s election win
- Two firms have downgraded Palantir due to its pricey valuation
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Palantir Technologies Inc. is confounding skeptics, with the stock continuing to push higher even as some on Wall Street question its sky-high valuation and the sustainability of the company’s revenue growth.
Shares in the artificial intelligence software maker are up more than 250% this year, with a chunk of the gains coming since last week’s estimate-beating earnings. Donald Trump’s election victory has also added momentum, with bulls pointing to management connections to Trump and the potential for an AI push by the new administration to boost sales. The stock was slightly lower in early trading Thursday.