Morgan Stanley said that while optimism about artificial intelligence has lifted the stock, the company hasn't said how it will monetize the technology.
Palantir Technologies stock was tumbling Thursday after a Morgan Stanley analyst downgraded the stock on concerns about the near-term outlook for the data-analytics software company.
“Near-term optimism in AI product cycle and valuation premium create an unfavorable risk-reward in shares, as visibility on AIP [artificial intelligence platform] monetization still remains low,” Weiss wrote in a research note. This concerns Weiss. “AI euphoria already [is] reflected in valuation, but will likely take time to materialize,” Weiss wrote. “…Palantir still appears very early as the company has clearly communicated that it has yet to determine a monetization strategy for its solution.”
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