From Coinpedia · By Anjali Belgaumkar
Oppenheimer has raised its price target on Palantir to $235 from $200 and kept an Outperform rating before the company reports third-quarter results on November 2. The firm expects Palantir to beat revenue forecasts again and lift its full-year outlook, with US commercial revenue growing more than 140% and government revenue up over 65%. Its checks with customers point to strong demand, though it flagged that deployments take effort and clients need to see new value at renewal. Rosenblatt recently raised its target to $260, and JPMorgan started coverage at Overweight. In the second quarter, US commercial revenue jumped 149% to $764 million and total revenue rose 92.8%. Palantir trades at about 156.6 times trailing earnings, against 22.6 times for the S&P 500, and options pricing implies an 11.65% swing after results.
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