The cybersecurity of Palantir has again received a positive comment
Palantir Technologies Inc. (PLTR), a developer of data analysis solutions, received another positive comment this week. On Wall Street, they expect Palantir to further expand its business — the primary driver of PLTR quotes over the past few years.
Analyst at the investment company Monness, Crespi, Hardt & Co. Brian White shares the popular opinion that Palantir occupies a unique position in the IT services market because of the combination of two promising areas. Recall that Palantir has a core of technologies, based on which they built two platforms for data analysis and protection for government and commercial organizations.
According to Monness analyst, Palantir has been showing high revenue growth rates in recent years. They are lower than those of some young IT companies, but Palantir steadily makes a profit, while many fast-growing players are far from positive profitability.
Against this background, according to Brian White, the fall in Palantir stock prices, which investors got rid of during the fall of the indices simultaneously with the sale of shares of unprofitable technology companies, is unfair. In addition, Palantir is a new public player (the company held an IPO in 2020), and its shares still have increased volatility.
Thus, the PLTR security keeps the potential for long-term growth. Against this background, Monness, Crespi, Hardt & Co. gave a recommendation to buy PLTR shares and set a target price of $20. We should note that a month ago Palantir received a positive recommendation from the investment bank, Morgan Stanley. We expect the company to increase sales in the government solutions segment, as well as continue expanding the commercial segment.
