Palantir Is Down 38% From Its High -- and It Just Got a Wall Street Upgrade. Time to Buy?
The upgrade's argument is simple: the earnings finally caught up to the price.
Overview
Palantir Technologies (NASDAQ: PLTR) picked up an upgrade to a buy rating this week, and the argument behind it is one bulls have waited years to hear: the earnings have finally caught up to the price. After a 38% slide from its 52-week high of $207.52, the stock trades around $129 as of this writing. A year ago, this was a company earning $0.08 a quarter. Last quarter, however, it earned $0.34.
So, have the earnings really caught up to the valuation?
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Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.