Palantir Stock Falls Despite Strong Growth Outlook

Palantir Technologies Inc. (PLTR) stock fell as market gained, lagging S&P 500's slight gain.
PLTR earnings expected to show strong growth vs. year ago. Revenue also seen rising.
PLTR has outperformed its sector over the past month.
Estimates have trended higher recently, a positive sign for PLTR's business outlook.
PLTR currently has a Zacks Rank of #3 (Hold). The tech services industry is in the top 43% of Zacks-ranked industries.

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9/28/2023

Cathie Wood Buys Over 1M Shares of Palantir As Analysts See AI Growth Despite Mixed Outlook

ARK Investment Management, led by Cathie Wood, has purchased a large position in Palantir Technologies (PLTR) stock, as the company proves itself as a contender in the artificial intelligence (AI) software market and secures major contracts, leading to bullish price targets and positive analyst sentiment.