UPDATE: Deutsche Bank Downgrades Palantir Technologies Inc. (PLTR) to Sell

August 9, 2022 4:14 AM EDT
Get Alerts PLTR Hot Sheet
Price: $8.47 +0.59%

Rating Summary:
    4 Buy, 5 Hold, 4 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 15 | Down: 30 | New: 23
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(Updated - August 9, 2022 7:08 AM EDT)

Deutsche Bank analyst Brad Zelnick downgraded Palantir Technologies Inc. (NYSE: PLTR) from Hold to Sell with a price target of $8.00 (from $11.00).

The analyst comments " We downgrade PLTR shares to Sell from Hold following 2Q results that change our view of the company's Government business and overall risk/reward in the stock. While we've always been more skeptical of Palantir's commercial opportunity, our thesis was rooted in what we saw as a uniquely strong position in Public Sector. Now with the Gov't business further decelerating off of easier compares and with diminished confidence/visibility ahead, we are left with very little to support our thesis."

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 $9.82 yesterday.

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