Palantir Stock Sets All-Time High Monday

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Palantir Stock Sets All-Time High Monday

stock :: 21hrs ago :: source - investopedia

By Andrew Kessel

File photo: Kevin Dietsch / Getty Images

alantir Technologies (PLTR) shares climbed about 3% Monday to close at an all-time high of $141.41, topping Friday's record.

The move came amid broader gains for U.S. stocks, with the major indexes rebounding from Friday's losses as investors kept close tabs on the latest developments in the conflict between Israel and Iran. (Read Investopedia's live coverage of Monday's market action.)

One Firm Calls Palantir Stock 'Runaway Freight Train'

Last week, Loop Capital analysts called Palantir a “runaway freight train never coming back,” raising their price target for the stock to $155, well above the Wall Street consensus of $95, according to Visible Alpha.

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“We acknowledge that PLTR is not for the faint of heart," Loop said. “We think the key to owning PLTR here is that you need to buy into the big picture.”

Shares of Palantir have rocketed nearly 90% higher this year, thanks in part to the company's expanding role with the U.S. government under the Trump administration. The federal government has deployed a Palantir software platform called Foundry at at least four agencies, including the Department of Homeland Security and the Health and Human Services Department, according to reports.