Palantir's Stock Performance: A Rollercoaster Ride.

Palantir Technologies' stock has been downgraded by Raymond James from a Strong Buy rating to an Outperform rating, citing valuation concerns. The company's shares have rallied more than 60% since its latest quarterly print and ascended to approximately a $12 billion market cap. Palantir's positioning in the artificial intelligence space has largely driven the stock's doubling since the start of the year. Despite the downgrade, Palantir still has some of the most compelling competitive advantages across Raymond James' coverage universe.