DA Davidson has adjusted its price target for Palantir Technologies (PLTR, Financial), reducing it from $105 to $100 while maintaining a neutral stance on the stock. This revision is part of an updated forecast for the software sector under the firm’s coverage.
The adjustment reflects DA Davidson's anticipation of one or two quarters of negative GDP growth in the United States this year. This anticipated economic slowdown is expected to impact growth prospects and has already affected company valuations, according to the analyst's notes.
Furthermore, the firm cautions that irrespective of developments in the current tariff environment, a reduction in consumer activity and corporate investment is anticipated over the coming quarters. This outlook suggests a broadly cautious stance on growth-oriented companies such as Palantir in the near term.
