Citi analyst Tyler Radke keeps a Neutral rating on Palantir Technologies with a $30 price target after meeting with CFO Dave Glazer. The company remains upbeat on its Artificial Intelligence Platform momentum with consistent macro commentary, the analyst tells investors in a research note. However, the firm says this week’s inclusion to the S&P 500 Index saw a 15% share uptick, which increased Palantir’s valuation to one of the most expensive names in software at a 25-times next 12 months enterprise value to sales ratio. Citi is on the sidelines, saying AIP monetization is still early despite the strong bookings seen across commercial while the Government business is “lumpy” heading into the elections.
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