Palantir Technologies Inc. (PLTR) PT Lowered to $21 at Jefferies
- Nasdaq closes lower as chipmaker Micron's warning renews tech rout
- Citi’s Top Equity Strategist Warns Analysts are Too Bullish on Stocks
- Bank of America Clients Continue to Buy the Rally, New Data Shows
- Novavax (NVAX) Crashes 30% After a Deep Guidance Cut, Analyst 'Frustrated'
- 'Hard to Say' Whether Current Crypto Bear Market is Over - Morgan Stanley
Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.
Jefferies analyst Brent Thill lowered the price target on Palantir Technologies Inc. (NYSE: PLTR) to $21.00 (from $24.00) while maintaining a Buy rating after previewing Q4 earnings.
The analyst commented, "4Q21 rev guide stands at +30% y/y (off a +40% comp) after delivering growth of +36% in 3Q21 (off a +52% comp). The next leg of growth will likely be driven by further acceleration from the commercial business, which has begun to show signs of growth inflection in recent Qs. Looking ahead to 1Q22, rev growth comp gets incrementally tougher at +49% and seasonality will likely have an impact as well, reflected by Street rev growth ests. decelerating to +29% y/y. Stock trades at 11x CY23E revs, at a slight discount to the large cap software average of 14x. Inputting a 7x multiple would imply 33% downside while 13x implies 15% upside."
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: Deutsche Bank Downgrades Palantir Technologies Inc. (PLTR) to Sell
- UPDATE: 3D Systems (DDD) PT Lowered to $9 at JPMorgan, 'We sense management will be more aggressive on cost cuts'
- Bed Bath & Beyond (BBBY) Tumbles as Baird Downgrades Following Recent Rally
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change
Related EntitiesJefferies & Co, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!