Palantir Is Rare Puzzle for Wall Street’s Brain: Jonathan Levin

No matter how much they torture their models, sell-side stock analysts just can’t come up with a justification for Palantir Technologies Inc. stock to go higher. The Peter Thiel-backed data analytics and artificial intelligence company, known for its highly sensitive work with the Department of Defense, has surged by more than 161% this year and blown past the typical Wall Street price target for the next 12 months.

Here’s how my Bloomberg News colleague Carmen Reinicke put it last week:

...analysts don’t expect the winning streak to continue, with the average target implying a decline of more than 30% in the ...