Palantir Technologies Inc. (NASDAQ:PLTR) shares are dipping Monday, even as Goldman Sachs reiterated a Neutral rating on the stock. Here’s what you should know.
- Palantir Technologies stock is under selling pressure. What’s driving PLTR stock lower?
Goldman Sachs Reiterates Neutral Rating, Maintains $204 Target
Goldman Sachs analyst Gabriela Borges kept a Neutral rating on Palantir in place and maintained the firm’s price target at $204. The note followed an investor meeting Goldman hosted with Palantir CFO Dave Glazer in San Francisco on September 11, the day after the company’s AIPCon event.
Goldman said Palantir’s long-running approach to deploying forward-deployed engineers and turning customer-specific workflows into reusable software may prove harder for competitors to replicate through a simple bolt-on strategy, an advantage the firm said appears to be extending further through Palantir’s AI FDE and AIP Evolve products.
The note also said one large potential competitor indicated it was stepping back from directly competing with Palantir after exploring that path earlier this year. On total addressable market, Goldman said Palantir remains in the early stages of building out industry-specific strategies, pointing to efforts in financials, led by a former AIG executive, semiconductors through its Nvidia partnership, and neoclouds through its Nebius partnership.
Goldman flagged the evolving competitive landscape as something it continues to monitor, along with ongoing investor debate over how durable Palantir’s forward-deployed engineer advantage is and how large its addressable market ultimately proves to be.
The firm summarized its overall stance as cautiously positive, saying it remains incrementally confident in Palantir’s ability to differentiate itself by connecting data, decisions and actions across an organization while expanding the value it delivers to customers.
PLTR Shares Are Falling
PLTR Price Action: Palantir shares were down 1.64% at $186.55 at the time of publication on Monday, according to Benzinga Pro.
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