Palantir stock slides ahead of August earnings as analysts cut targets
Shares of Palantir Technologies fell about 5.9% to $123.72 on the Nasdaq as the company approaches its second‑quarter earnings report scheduled for 3 August. The decline follows an analyst downgrade and a reduction of the price target from $225 to $200 by CitiGroup, while Oppenheimer kept an “Outperform” rating and a $200 target. Notable short‑seller Michael Burry has increased his bet against the stock, adding further pressure. Insider sales added to the sell‑off, with Palantir’s chief technology officer disposing of shares valued at roughly $24 million and a board member selling over $2 million worth. The move comes as the U.S. Federal Reserve began a two‑day interest‑rate meeting, a factor that could weigh on growth‑oriented equities.
Entities: Citigroup · Federal Reserve · Michael Burry · Oppenheimer · Palantir Technologies Inc.
Claims
What the coverage asserts, and how well corroborated each claim is across sources.
- [● 2 SOURCES] CitiGroup lowered its Palantir price target from $225 to $200.
- [● 2 SOURCES] A Palantir board member sold shares valued at over $2 million.
- [● 2 SOURCES] Short‑seller Michael Burry expanded his short position in Palantir before the earnings release.
- [● 2 SOURCES] Palantir’s chief technology officer sold shares worth about $24 million.
- [● 2 SOURCES] Palantir will report its second‑quarter earnings on 3 August.
- [● 2 SOURCES] Oppenheimer kept an “Outperform” rating and a $200 price target for Palantir.
- [● 2 SOURCES] The U.S. Federal Reserve began a two‑day interest‑rate meeting on the same day, potentially affecting growth stocks.
- [● 2 SOURCES] Palantir share price fell 5.94% to $123.72.