PLTR News: Palantir Technologies bounces off support despite extending its decline
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UPGRADE- NYSE:PLTR fell by 0.42% during another choppy session for the broader markets.
- Palantir receives an upgrade from investment research firm Zacks.com.
- Palantir Co-founder Joe Lonsdale is partnering with Morgan Stanley for new investments.
NYSE:PLTR continued its decline on Thursday, but shareholders may be happy to know that it seems to be part of a broader growth sector correction rather than anything to do with its business. Shares of Palantir fell by 0.42% on Thursday, to close the trading session at $21.47. The day was looking much worse for Palantir as it fell as low as $21.01 but shares predictably bounced off the support level at $21.00 and pared earlier losses by the closing bell. Palantir has certainly been on a bearish downtrend as of late, and with current sentiment surrounding growth stocks, the stock will need a lot of bullish volume to reverse the current trend.
Stay up to speed with hot stocks' news!
There hasn’t been much in the way of good news for Palantir over the past few weeks, but the stock did receive a positive upgrade from Zacks.com. The investment research site upgraded Palantir to from a sell rating to a hold. While it’s not as promising as a buy or strong buy rating, it is a step in the right direction for the stock. Currently Palantir has an average rating of hold amongst analysts covering the stock, and a median price target of $21.44.
PLTR stock forecast
Palantir co-founder Joe Lonsdale is teaming with Lineage Logistics, a Morgan Stanley (NYSE:MS) backed company, to further investments into the transportation and logistics industry. Lonsdale’s company is called 8VC, and was a notable early investor in former Facebook (NASDAQ:FB) executive Dustin Moskovitz’s company Asana (NYSE:ASAN). Adding more stakes in companies can only lead to more potential clients for Palantir’s data analytics platforms in the future.
- NYSE:PLTR fell by 0.42% during another choppy session for the broader markets.
- Palantir receives an upgrade from investment research firm Zacks.com.
- Palantir Co-founder Joe Lonsdale is partnering with Morgan Stanley for new investments.
NYSE:PLTR continued its decline on Thursday, but shareholders may be happy to know that it seems to be part of a broader growth sector correction rather than anything to do with its business. Shares of Palantir fell by 0.42% on Thursday, to close the trading session at $21.47. The day was looking much worse for Palantir as it fell as low as $21.01 but shares predictably bounced off the support level at $21.00 and pared earlier losses by the closing bell. Palantir has certainly been on a bearish downtrend as of late, and with current sentiment surrounding growth stocks, the stock will need a lot of bullish volume to reverse the current trend.
Stay up to speed with hot stocks' news!
There hasn’t been much in the way of good news for Palantir over the past few weeks, but the stock did receive a positive upgrade from Zacks.com. The investment research site upgraded Palantir to from a sell rating to a hold. While it’s not as promising as a buy or strong buy rating, it is a step in the right direction for the stock. Currently Palantir has an average rating of hold amongst analysts covering the stock, and a median price target of $21.44.
PLTR stock forecast
Palantir co-founder Joe Lonsdale is teaming with Lineage Logistics, a Morgan Stanley (NYSE:MS) backed company, to further investments into the transportation and logistics industry. Lonsdale’s company is called 8VC, and was a notable early investor in former Facebook (NASDAQ:FB) executive Dustin Moskovitz’s company Asana (NYSE:ASAN). Adding more stakes in companies can only lead to more potential clients for Palantir’s data analytics platforms in the future.
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