After Palantir's 18% Drop, the Stock Is Trading Near Wall Street's Price Targets. Time to Buy?

Some investors and analysts alike have expressed mixed feelings about Palantir Technologies (NASDAQ: PLTR) over the past couple of years. Yes, demand for the company's software has been booming and translating into fantastic earnings growth. But this also has resulted in a soaring valuation as other investors piled into the stock. Palantir has traded for as much as 289 times forward earnings estimates in recent times, a level that many consider exorbitant.But in recent weeks, Palantir stock has pulled back, dropping as much as 18% since early August. And this movement has pushed the stock price to a few dollars away from Wall Street's average 12-month price forecast. Is it finally time to buy this high-growth player? Let's find out.Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool