Palantir shares fell in premarket trading on Wednesday, extending losses after a steep drop on Tuesday, according to Benzinga. Citron Research issued a bearish report claiming Palantir is overvalued and disconnected from fundamentals. It set a $40 price target, using OpenAI’s $500 billion valuation as a benchmark. Citron compared Palantir’s projected 2026 revenue of $5.6 billion with OpenAI’s expected $29.6 billion, applying a similar multiple to suggest a $40 price target. Citron’s report flagged nearly \$2 billion in insider sales by CEO Alex Karp and criticized Palantir’s slower growth and reliance on inconsistent government revenue. The stock’s decline came despite Palantir expanding its partnership with Fujitsu, allowing the Japanese firm to integrate Palantir’s AI Platform into its Uvance framework.
Be the first to comment