Markets News

April 22, 2024

Palantir Falls as Analyst Says It's Overvalued Amid AI Hype

Palantir Technologies shares dropped 6% Thursday after an analyst downgraded the stock, claiming artificial intelligence (AI) hype has left it with an "egregiously rich valuation."Analyst Brian White at Monness, Crespi, Hardt & Co. lowered the stock's rating to "sell" from "neutral," writing it's time to get "back to reality" after Palantir's "meteoric rise on the Gen AI rocket."Despite Thursday's decline, shares of Palantir have gained nearly 39% year to date.

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April 22, 2024

Palantir Falls as Analyst Says It's Overvalued Amid AI Hype

Palantir Technologies shares dropped 6% Thursday after an analyst downgraded the stock, claiming artificial intelligence (AI) hype has left it with an "egregiously rich valuation."Analyst Brian White at Monness, Crespi, Hardt & Co. lowered the stock's rating to "sell" from "neutral," writing it's time to get "back to reality" after Palantir's "meteoric rise on the Gen AI rocket."Despite Thursday's decline, shares of Palantir have gained nearly 39% year to date.

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April 22, 2024

Palantir Falls as Analyst Says It's Overvalued Amid AI Hype

Palantir Technologies shares dropped 6% Thursday after an analyst downgraded the stock, claiming artificial intelligence (AI) hype has left it with an "egregiously rich valuation."Analyst Brian White at Monness, Crespi, Hardt & Co. lowered the stock's rating to "sell" from "neutral," writing it's time to get "back to reality" after Palantir's "meteoric rise on the Gen AI rocket."Despite Thursday's decline, shares of Palantir have gained nearly 39% year to date.

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April 22, 2024

Snowflake Stock Jumps as KeyBanc Initiates Coverage With 'Overweight' Rating

Snowflake shares gained 4.2% on Thursday after KeyBanc initiated coverage of the independent cloud data warehouse and gave the stock an “overweight” rating, setting a price target of $185.The KeyBanc analysts cited the company's leading position in its industry and highlighted the advantages that differentiate it from Amazon's AWS and Microsoft's Azure.They added that the company's recent CEO transition could lead to more artificial intelligence-focused leadership.Despite Thursday's gains, Snowflake shares have declined 20% since the start of 2024.

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April 22, 2024

Snowflake Stock Jumps as KeyBanc Initiates Coverage With 'Overweight' Rating

Snowflake shares gained 4.2% on Thursday after KeyBanc initiated coverage of the independent cloud data warehouse and gave the stock an “overweight” rating, setting a price target of $185.The KeyBanc analysts cited the company's leading position in its industry and highlighted the advantages that differentiate it from Amazon's AWS and Microsoft's Azure.They added that the company's recent CEO transition could lead to more artificial intelligence-focused leadership.Despite Thursday's gains, Snowflake shares have declined 20% since the start of 2024.

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April 22, 2024

Snowflake Stock Jumps as KeyBanc Initiates Coverage With 'Overweight' Rating

Snowflake shares gained 4.2% on Thursday after KeyBanc initiated coverage of the independent cloud data warehouse and gave the stock an “overweight” rating, setting a price target of $185.The KeyBanc analysts cited the company's leading position in its industry and highlighted the advantages that differentiate it from Amazon's AWS and Microsoft's Azure.They added that the company's recent CEO transition could lead to more artificial intelligence-focused leadership.Despite Thursday's gains, Snowflake shares have declined 20% since the start of 2024.

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