Palantir Technologies (NYSE:PLTR) might be suffering from the bends a bit after its multiple moonshots in 2021. Right now, it’s nursing a 7% loss on the day’s trading session, following the week long downward trend it suffered heading into Q3. For investors, things might be looking a little scary for PLTR stock.
But, are things really going that poorly, or is this just a fire sale opportunity? Bulls and bears are clashing over whether or not it’s a worthy effort to go big on PLTR, and one camp is decidedly larger than the other.
Palantir Technologies is a Peter Thiel-founded software firm dealing in big data and analytics. The company’s biggest projects include multiple contracts with U.S. government entities like the Department of Defense. Other software packages by the company are used for financial analysis.
PLTR stock might be falling off. However, it also is benefitting from new contracts trickling in regularly. So, is Palantir really in danger of further drilling? Or will things turn around? Well, our bullish contributors at InvestorPlace far outnumber our bearish ones. Let’s see what both sides are saying about the stock right now.
PLTR Stock: What the Bears Say
“For those who want to bet on the power of AI software, there are much cheaper options around than Palantir. Investors should be wary of paying nearly 40 times a company’s trailing 12-month revenue primarily for a brand name and social media buzz.” — Ian Bezek, InvestorPlace Contributor
Palantir Stock: What the Bulls Say
“These short-term [Reddit stock] shenanigans add a layer of gambling. In reality, the fundamentals of PLTR stock are rock solid. The company is still growing, so it is expensive from the traditional perspective. That doesn’t bother me in a stock at this stage of development.” — Nicolas Chahine, InvestorPlace Contributor
“Although most of Palantir’s [business] continues to come from government clients, the company looks well-positioned to obtain significantly more major commercial clients. Keeping everything in mind, I believe PLTR stock is a great addition to investors’ portfolio, and I think that every pullback of the shares creates good buying opportunities.” — Vandita Jadeja, InvestorPlace Contributor
“Of course, more companies seeking to integrate their data will consider Palantir in the future as well. And, once installed, customers tend to renew their contracts … This kind of deal-making is the bread and butter for Palantir and PLTR stock. As long as it continues to land contracts, the company should do well.” – Chris Lau, InvestorPlace Contributor
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.