What's Going On With Palantir Stock?

Palantir Technologies Inc. PLTR shares are trading higher Wednesday, and the stock is up more than 8% over the past five days. Here's a look at what's going on:

What To Know:

Oracle Corporation ORCL and Palantir announced Tuesday that Palantir’s Foundry Platform and Artificial Intelligence Platform (AIP) are certified on Oracle Cloud Infrastructure (OCI) and generally available across all of Oracle’s distributed cloud deployment options. The companies said that Palantir Foundry and AIP deployed on OCI allows access to OCI’s flexible compute infrastructure that provides efficiency, performance, and security.

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Virtus Investment Partners‘ Joe Terranova highlighted Palantir as a top AI stock on CNBC's "Fast Money Halftime Report" Tuesday. 

"Palantir, I believe, is the biggest, the most underrated AI-exposed play in the market today. I own it personally," Terranova said.

Palantir’s stock was featured as Benzinga's Stock of the Day on Monday as shares move higher, possibly into a breakout above previous resistance levels. According to data from Benzinga Pro, Palantir shares are trading above the stock’s 50-day moving average of $23.17 and just below its 52-week high of $28.38 reached earlier in the week. 

Will PLTR Stock Go Up?

When trying to assess whether or not Palantir Technologies will trade higher from current levels, it's a good idea to take a look at analyst forecasts.

Wall Street analysts have an average 12-month price target of $23.12 on Palantir Technologies. The Street high target is currently at $35 and the Street low target is $9. Of all the analysts covering Palantir Technologies, 2 have positive ratings, 3 have neutral ratings and 3 have negative ratings.

In the last month, 2 analysts have adjusted price targets. Here's a look at recent price target changes [Analyst Ratings]. Benzinga also tracks Wall Street's most accurate analysts. Check out how analysts covering Palantir Technologies have performed in recent history.

Stocks don't move in a straight line. The average stock market return is approximately 10% per year. Palantir Technologies is 67.54% up year-to-date. The average analyst price target suggests the stock could have further downside ahead.

For a broad overview of everything you need to know about Palantir Technologies, visit here. If you want to go above and beyond, there's no better tool to help you do just that than Benzinga Pro. Start your free trial today.

PLTR Price Action: According to Benzinga Pro, Palantir Technologies shares are up 3.45% at $28.34 at the time of publication Wednesday.

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