'Buy the Dip,' Says Daniel Ives About Palantir Stock - TipRanks.com

Despite Palantir's strong Q1 performance with a record profit of $106 million and revenue growth of 21% year-over-year, the stock dropped by 15% due to not meeting the very high expectations set by a 225% rise over the past year. The company raised its 2024 revenue guidance but still fell short of Wall Street predictions, and concerns about slowing international sales, especially in Europe, further dampened investor sentiment.

Wedbush analyst Daniel Ives views the recent price drop as a "golden buying opportunity," citing Palantir's robust AI-driven growth and expanding client base. Ives maintains an Outperform rating with a $35 price target, suggesting a significant upside, though the consensus among other analysts leans towards a Moderate Sell, with a lower average price target of $19.67.