Palantir Technologies Inc. (PLTR) Reports Progress on Generating Durable Growth - Morgan Stanley

May 12, 2021 6:49 AM EDT
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Price: $25.22 +1.69%

Rating Summary:
    2 Buy, 2 Hold, 4 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 15 | Down: 17 | New: 13
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Morgan Stanley analyst Keith Weiss reiterated an Underweight rating and $19.00 price target on Palantir Technologies Inc. (NYSE: PLTR) after overall commercial growth accelerated to 19% YoY, up from the 4% YoY growth last quarter. Customer additions are starting to accelerate as well with 11 new commercial customer in the quarter (10 net new) taking the total to 149. This substantially exceeded the 4 net new customers added in all of FY20.

The analyst summed up his position on the stock, stating "76% YoY growth in Government drove the Q1 strength, improving commercial customer adds (+11), accelerated sales hiring and building commercial pipelines look to be the building blocks for more durable growth ahead. However, at
22X EV/ CY22 Sales, durable growth is already well priced in."

For an analyst ratings summary and ratings history on Palantir Technologies Inc. click here. For more ratings news on Palantir Technologies Inc. click here.

Shares of Palantir Technologies Inc. closed at $20.21 yesterday.

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