On March 18, we noted that, “Palantir Technologies (PLTR) is coming back strong. After catching support at around $75, it’s now back up to $86.24. Now, if it can break above its 50-day moving average, we’d like to see it retest $100 initially. It’s also starting to pivot from over-extensions on RSI, MACD and Williams’ %R.”
At the time, PLTR traded at about $86. Today, it’s up to $96.75 and could soon retest $110.
William Blair analysts also upgraded PLTR to market perform, noting:
“We are upgrading our rating on shares of Palantir to Market Perform after the 33% DOGE-driven selloff from $125 to $84 over the past three weeks,” said William Blair analysts, as quoted by Seeking Alpha. “While valuation is still frothy with potential downside risk of greater than 40% on government contract delays, there have been positive developments.”
“William Blair expects Palantir to win a new contract with the U.S. government to implement a centralized payment tracking system to assist in overall cost-cutting strategies and the Department of Defense’s annual audit. The Denver-based company is also pursuing additional contracts with the U.S. Army.”
Sincerely,
Ian Cooper
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