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Palantir Technologies Inc. (NYSE:PLTR) shares are trading higher Tuesday amid a broader market rally. Here's a look at what to know.
What To Know:
The company announced last week it had been designated as an “Awardable” vendor for the Chief Digital and Artificial Intelligence Office’s (CDAO) Tradewinds Solutions Marketplace. Palantir’s AI Mission Command Capability and its Predictive Maintenance & Precision Sustainment Suite, were added to the Marketplace.
According to a report from Marketing Brew last week, Palantir has been pitching its software to ad agencies with inventory planning, programmatic sales, and campaign optimization use cases.
Palantir is set to report its first-quarter financial results on May 6 after the market close. According to estimates from Benzinga Pro, analysts expect the company to report earnings of 8 cents per share and quarterly revenue of $625.33 million.
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Predicting the future in stock prices over long periods of time is challenging. Wall Street analysts use complex models that take into account interest rates, economic growth, competitive advantages, management teams and historical profitability, among a host of other factors.
If, as an investor, you want to assume most of the major factors remain stable, you can use trend analysis as a helpful tool. Using a longer term trend line or historical performance of the stock, you can aim to forecast a stock's annual rate of return.
For Palantir Technologies, over the past 5 years, it's annualized stock performance is 17.16%, and if you assume that trend continues for another 5 years, you can expect a stock to trade at $47.79.
Using a trend line (see how to perform this function here), If you choose to use a trend line, connect your two points and look into the future to the point in time in which you're curious. Once you've identified that stock price, you may want to consider what type of conditions would need to exist for the stock to justify the share price – be it an outside influence or managerial decision making.
PLTR Price Action: According to Benzinga Pro, Palantir shares are up 3.23% at $21.65 at the time of publication Tuesday.
Image: Cory Doctorow from Flickr
Posted In: PLTR
