Argus upgraded Palantir Technologies to Buy with a $190 price target. Analysts cited a disconnect between accelerating revenue, expanding margins, and the recent share price decline. The firm described the performance as stellar and viewed the dip as an investor opportunity.
Palantir reported record first-quarter results on May 4. Revenue increased 85% year-over-year, surpassing analyst expectations.
The stock fell nearly 7% the following day. Investors cited concerns over high valuation and decelerating growth in closed total contract value. Bank of America reiterated its buy rating after the report.