( See Palantir stock forecast on TipRanks)ĭisclaimer: The TipRanks Smart Score performance is based on backtested results. The forecast calls for 12-month gains of ~26%, considering the average price target clocks in at $11.80. The addition of 3 Buys and Sells, each, are not enough to move the needle and the stock claims a Hold consensus rating. It’s mostly Holds amongst White’s colleagues too – 6, in total. (To watch White’s track record, click here)
That rating is downgraded from Buy to Neutral, while the prior $16 price target is taken off the table. The analyst’s forecast factors in a 5% sequential uptick, below past September quarters’ three-year average of a 9% uptick.īased on all the above, White thinks it’s time to move to the sidelines. The analyst is calling for revenue of $480.1 million and EPS of $0.02, compared to the Street at a respective $507.1 million and $0.05. White’s outlook for Q3 also falls short of consensus. Both, however, are below Street expectations of $470.9 million and $0.03, respectively, and lower than the company’s guide, while White also thinks the quarter’s profits could be “susceptible to the negative impact of non-operating items, including unrealized losses from investments.” Heading into Palantir’s 2Q22 results (Aug 8), White expects the company to “at least meet” his 2Q22 revenue forecast of $459.4 million (up 22% year-over-year) and EPS estimate of $0.01.
“As such, we believe many next-gen software vendors will continue to struggle in this environment, especially those that are still trying to gain credibility with investors.” “Although next-gen software vendors have enjoyed a stock price snapback more recently, we believe the market will remain highly selective, focusing on the highest quality companies,” the 5-star analyst expounded on the matter. The analyst does not expect to see a swift reversal of this trend anytime soon.Īdditionally, White thinks the stock’s recent gains (up by 50% since the May lows), could prove “unsustainable” in the present operating environment. Next-generation software companies are bound to suffer, says White, given investors’ priorities lies elsewhere right now. The problem for the big data specialist is that with the global economy appearing to be in a “downward spiral,” that won’t be enough to counter the bearish trends. Monness’ Brian White thinks such chaos “plays into the hands” of Palantir ( PLTR ). On top of the seemingly endless list of headwinds affecting market sentiment in 2022, with Russia’s invasion of Ukraine, the geopolitical landscape became more hazardous.