PLTR stock forecast: Palantir Stock Road to Recovery Targeting $20
The PLTR stock forecast showcases recovery signs. In previous sessions, the PLTR stock price took support on the 100 DAY EMA level and tried to break the 50 EMA level. However, PLTR stock needs to accumulate buyers in order to start an upside trend and also break the primary resistance levels.
At the time of writing the stock price is trading at at a value of $15.41 with a spike of 5.19%. The current volume of the stock is 33.909 Million with a 10-day average volume of 56.644 Million. At present 1.802 Billion shares float in the market.
In Quarter 2 2023 the company delivered a good revenue of $533.32 million with a net income of $28.13 Million and the profit margin of this quarter is 5.27%. The revenue and net income of the company increased as compared to the previous quarter. However, the profit margin got a slight incline from 3.20% to 5.27%. The above data showcases the strong earnings of PLTR stock.
PLTR stock forecast: Analyst Price Targets
13 analysts gave a 1-year PLTR stock forecast. They gave the maximum price prediction of $25 which is +63.13% above the current price. The minimum estimation of price is $5 which is -65.43% below the current price and the average price target of $23.65 which is -11.05% below the current price.
Source: trading view
When we take a look at analyst ratings, 18 analysts gave their rating to PLTR stock for the past three months. 2 analysts gave a strong buy rating, one gave a buy, 7 gave a hold, 3 gave a sell and 5 gave a strong sell rating. However, the maximum weightage is on the neutral side.
PLTR Stock Forecast: Price Targets For NYSE: PLTR
Source: trading view
PLTR stock forecast implies a recovery sign in the stock price. However, the stock price is currently trading beyond the 100 and 200-day EMAs and below the 50-moving average. Meanwhile, the stock price trying hard to cross the 50 and 200 EMA hurdles indicating the buyer’s presence in the market. This scenario showcases the buyers don’t want to shift their control right now.
MACD line is taking a turn and is about to give a bullish cross. MACD indicates a weakness in a bearish trend and a trend reversal may be possible soon.
The RSI line is heading towards the median line and gave a positive cross to the 14 SMA line indicating a positive outlook.
Conclusion
PLTR stock forecast is said to recover and reach the $20 mark if it breaks out of key EMAs and essential resistance levels. Furthermore, if the Palantir Technologies Inc. stock price sustains above $20 resistance then it may reach a new high level. Furthermore, the stock’s performance throughout the year has been Fabulous with a year-to-date spike of about 135% Technical indicators suggest that PLTR share price is in bullish momentum and get back on track soon.
Technical Support and Resistance level
Support levels: S1 = $13.94 and S2 = $12.28
Resistance levels: R1 = $16.85 and R2 = $19.00.
Disclaimer
The research delivered in this article is for informative and educational purposes only. Do not depend on this information as financial, investment, or trading recommendations. Investing and trading involve risk. Please consider your circumstances and risk forbearance before making any investment conclusions.