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Palantir stock is stuck in a trading range. Here’s how the spark could be higher.

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Close-up of a LED on a screen with the Palantir (PLTR) logo.


© Source: Ascannio / Shutterstock.com
Close-up of a LED on a screen with the Palantir (PLTR) logo.

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Stuck in a trading range since March 2021, Blantyre (New York Stock Exchange:PLTR) needs a positive catalyst to rise again. However, in recent trading sessions, the Nasdaq It started losing its upward momentum. So, what does PLTR stock need to attract routine buyers from here?



Close-up of a LED on a screen with the Palantir (PLTR) logo.


© Submitted by InvestorPlace
Close-up of a LED on a screen with the Palantir (PLTR) logo.

After lofty-flying software shares like Amazon (NASDAQ:AMZN) And Pinterest (New York Stock Exchange:pins) cut the tech index final week, worried investors may be concerned about what will happen to the next PLTR stock. However, this latest volatility may create a buying opportunity. Additionally, unused contracts and initiatives may generate some positive potential.

Here’s what you should know about moving forward with a PLTR stock.

Losing PLTR Stock Momentum

Back in June, Mimi’s shares drove buyers to purchase the rip and sell on the dip. for example, reddit p/WallStreetBets often mention Palantir. By July, that trading momentum waned. Basically, speculators cannot afford to lose more money. With Gamestop (New York Stock Exchange:GME) fading and Context (NASDAQ:we wish) In the event that they fail to return to the teens, investors may have made up for losses in those shares by selling their PLTR shares.

At fewest, that might be part of how the stock lost momentum. Recently, Palantir COO Shyam Sankar acknowledged how these memeful investors are raising awareness about PLTR shares. Sankar said at the time that he was excited about investors who “really dug into” the company’s background.

Due to Palantir’s complicated product offering, customers also take months to evaluate its software. This could unkind that the interest PLTR received from Wall Street in June could boost the company’s sales in the next few quarters. In addition, Palantir is not only aimed at fortune 500 companies but also start-ups. in July. 20, introduced Foundry for Builders, which gives beforetime stage companies access to the Palantir Foundry platform.

The Blantyre Foundry Builders Company will benefit from the company’s wide range of clients. For example, Palantir wants clients in the healthcare, robotics, and fintech markets.

CEO James Boyd said Palantir Foundry allows the company to integrate its moveable capabilities into enterprise data systems. Furthermore, Rick Ducotte – Director of Engineering for gecko, one of the startups in the first round of the program – said his company is betting that PLTR will aid it expand operations significantly.

The need to aid customers move from data to value will only increase in today’s digital world. However, cautious investors should acknowledge the risks of a in the near term slowing down in this direction.

Risks and prospects

Last week’s Pinterest and Amazon drops are a reminder that the post-Covid world is a risk for PLTR stock. Although the delta variant is starting to emerge even among vaccinated countries, many governments are not reimposing lockdowns.

So, the incentive to work from home that fueled software and e-commerce revenue growth in 2020 and beforetime 2021 is now absent. Investors don’t know if customers will cut software spending budgets next. If they do, Palantir’s revenue growth could be slow.

Regardless of those risks, Palantir reported revenue up 49% year over year to $341 million in the first quarter. Furthermore, it expects revenue for the upcoming second quarter to grow 43% to $360 million. Adjusted operating margin is also targeted to be 23%. Therefore, with corporate clients pressured to maintain their committed tech budgets, Palantir must live up to its guidance. For the whole of 2021, it may also beat the adjusted free cash flow guidance of $150 million.

Additionally, PLTR was announced in June. 18 he won a contract with the Federal Aviation Administration (FAA). The company will provide a data analytics tool that enhances aviation safety. Additionally, as flight volumes are increasing, the FAA may increase the scope of its project. This could result in a larger contract amount.

Finally, in June. On October 8, the US Centers for Disease Control and Prevention (CDC) awarded Palantir a $7.4 million contract renewal. PLTR will persevere to provide the CDC with an “outbreak response and disease surveillance solution.” And since the Delta variant now complicates vaccine rollout and infection containment measures, the CDC may increase its investment with the company as well.

Takeaway on PLTR stock

For now, Wall Street analysts aren’t overly confident about Palantir’s stock. to me adviceThe average target price is just $22.33. With little bullish potential ahead, investors may not want to purchase the stock at current levels. But if the Nasdaq increases volatility with more pullback days, Blantyre may drop to a better purchase price zone.

So, investors who missed out on the PLTR stock when it started trading at $10 will have another chance. If the stock falls in the lofty teens, buyers are likely to purchase the dip.

Palantir’s upcoming earnings report is also a potential catalyst. If he wins larger contracts, the stock may rise again.

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At the date of publication, Chris Lau did not (directly or indirectly) grip any positions in the securities mentioned in this article. The opinions expressed in this article are those of the author, and are subject to InvestorPlace.com Posting Guidelines.

Chris Lau is a contributing author on InvestorPlace.com And many other financial websites. Chris has over 20 years of experience investing in the stock market and runs a do-it-yourself marketplace for value investing on Alpha Search. He shares his stock picks so readers get original insight that helps improve investment returns.

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