Stock Track | Palantir Stock Plunges 5% as Morgan Stanley Cites Valuation Concerns

Stock Track01-07

Shares of Palantir Technologies Inc. (PLTR) dropped 5.03% in intraday trading on Monday after Morgan Stanley analyst Sanjit Singh initiated coverage on the artificial intelligence firm with an Underweight rating and a $60 price target.

Singh acknowledged Palantir's strong execution and momentum in the AI market, including accelerating growth in its commercial and government segments. However, he believes Palantir's success "seems to be more than priced in at the current multiple premium" following the stock's massive 340% rally in 2024.

Singh noted that Palantir's valuation is considerably higher than its intrinsic value, driven more by multiple expansion than fundamental growth. He warned that business momentum appears to be stabilizing, suggesting limited near-term upside if material estimate revisions are not available.

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