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What's Going on With Palantir Stock on Wednesday?
Benzinga • • business
Key Points:
- Nasdaq futures rose 0.47% and S&P 500 futures increased 0.60% amid positive market sentiment.
- Palantir reported a strong Q2 with 93% year-on-year revenue growth to $1.94 billion and adjusted earnings of 41 cents per share, surpassing analyst estimates of 30 cents.
- DA Davidson analyst Gil Luria maintained a Buy rating on Palantir, raising the price target from $175 to $200, citing significant revenue beats and competitive advantages in the AI era.
- Palantir's stock is trading above key moving averages but shows overbought momentum with an RSI of 72.74; longer-term trend recovery remains uncertain due to a previous death cross.
- Key technical levels to watch include resistance at $163.50 and support at $148, with shares slightly up 0.24% at $163.05 during the latest trading session.
