Palantir Technologies Inc. (PLTR)’s offerings are “mission critical for” the defense of America, and Washington will not cut its spending on Palantir’s products, and services, said Kenny Polcari, the Chief Market Strategist at Slatestone Wealth, recently.
Appearing on the Schwab Network, Polcari urged retail investors to own PLTR stock.
Palantir Technologies Inc. (PLTR) Delivered “Blow Out Earnings,” Polcari Says
Palantir reported excellent first-quarter results, said Polcari, referring to its Q1 numbers as “blowout” earnings. The selloff of the shares in the wake of the results was “clearly an overreaction,” he stated.
Other Positive Attributes of PLTR
The company’s high tech, AI-oriented offerings make it invaluable to the U.S. government, Polcari suggested. What’s more, the shares are off their highs and are making a comeback, he noted. (At this point, they are only about 5.5% below their all-time highs).
Polcari’s Bottom Line on Palantir Technologies Inc. (PLTR)
“We own Palantir, we will continue to own it, and you want to own it,” the well-known investor proclaimed.
The Recent Price Action of PLTR
In the last month, the shares have gained 28%, while they are up just 1.3% in the last three months.
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Disclosure: None. This article is originally published at Insider Monkey.
