Is Palantir Stock Worth $1 Trillion? This Wall Street Analyst Thinks So.

Palantir Technologies (NASDAQ: PLTR) has been one of the best-performing stocks of the year so far, up 43% year to date. But the artificial intelligence (AI) software company's strong first quarter wasn't enough to push the stock to new highs. The stock was trading down over 10% after the earnings news.Investors have high expectations for the company's performance. The stock is priced for perfection and then some, trading at 474 times earnings. The expensive valuation is the most common reason cited for why the average Wall Street analyst has a "hold" rating on the shares.However, one Wall Street analyst remains very bullish on the stock's prospects. Wedbush analyst Dan Ives reiterated an outperform (buy) rating on the shares and raised the firm's price target from $120 to $140. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool