Shares of tech company Palantir (PLTR) fell sharply after receiving a downgrade from to Sell from Neutral at Monness Crespi Hardt. It's partly a valuation call from analysts, who argue they "believe the market will increasingly shun software stocks with excessive valuations." The firm has a $20 price target on Palantir shares. In the video above, Yahoo Finance's Jared Blikre and Julie Hyman discuss the call and take a look at Palantir's chart. For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Stephanie Mikulich.
While many companies have attempted to brand themselves around artificial intelligence (AI), Palantir is genuinely in the space.
Monness, Crespi, Hardt & Co. analyst Brian White downgrades shares of the data-analytics software company to Sell from Neutral with a $20 price target.