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Palantir has outpaced every major software peer over the past month, and a sudden pullback is forcing investors to make a call that depends entirely on what is driving the stock higher in the first place.
Despite strong financial growth, Palantir’s shares have retreated amid an increasingly negative sentiment for software stocks.
Palantir has posted triple-digit annual gains three years running, and analysts keep raising their estimates even as the stock trades well above their price targets. One number reveals whether $300 per share is a legitimate target or a valuation trap.