Palantir (NYSE:PLTR) stock is down 3% this morning and trending on social media ahead of the data-analysis company’s second-quarter earnings report. The company’s earnings are due to be released after the market closes today.

After PLTR stock soared 183% so far this year on hype about its artificial intelligence (AI) solutions, the Street and retail investors will find out late this afternoon if the company’s financial results matched the hype.

Multiple Analysts Are Bearish on PLTR Stock

Several analysts are pessimistic about the name’s outlook ahead of its Q2 results.

Calling Palantir’s AI “unproven,” Roundhill Financial’s David Mazza wrote that PLTR “will have to start showing greater progress to justify” its valuation. Similarly, Monness Crespi’s Brian White called the valuation of PLTR stock “rich” and suggested the shares would drop a great deal going forward. He also warned that the company’s commercial business could be hurt by economic turbulence, while it has taken the firm a long time to recognize revenue from its government deals in the past. And finally, Jeffries’ Brent Thill is worried about the prices of Palantir’s AI products, as well as “the durability” of its increased revenue from the private sector.

On the other hand, Wedbush’s Dan Ives is very bullish on PLTR stock, contending that the firm is “on the golden track to success” due to its “unmatched… AI fortress.”

Valuation and Trading Action

PLTR stock has a very high forward price-to-earnings ratio of 82. In the last month, heading into today, the stock was up 10%, and it is up 132% in the previous three months, while it has gained 83% in the last 12 months.

On the date of publication, Larry Ramer did not hold (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.