Home / Business and Economy / Palantir Tipped for 20% Surge After Earnings, Says NYSE Insider
Palantir Tipped for 20% Surge After Earnings, Says NYSE Insider
3 Nov
Summary
- NYSE insider Jay Woods forecasts Palantir stock could rise 20% to $240 after earnings
- Palantir has averaged 20% gains in 8 of the last 11 earnings reports
- Uber also has good upside potential of $110 per share
According to NYSE insider Jay Woods, the data analytics company Palantir is poised for a significant stock price surge following its upcoming earnings report. Woods, who serves as the chief market strategist at Freedom Capital Markets, believes Palantir could see its share price rise by as much as 20% to around $240 based on the stock's recent trading history.
Woods notes that Palantir's stock has gone up an average of 20% in 8 out of the last 11 times it has reported earnings. With the stock recently breaking out above the $190 level from a "nice triangular formation," the insider anticipates it could potentially hit the $230 or $240 range in the wake of its next earnings announcement, which is scheduled for after the market close on Monday.
In addition to his bullish outlook on Palantir, Woods also touched on the performance of another key stock reporting earnings this week - Uber. The trader remarked that Uber is currently in a "slow, steady uptrend" and has good upside potential of reaching $110 per share.
