Palantir Technologies Inc (NYSE: PLTR) is trading in the red today after rallying recently on reports that said the company has won a $44 million contract from FDA. The stock has gained about 200% since the company went public in September. However, analysts are now having second thoughts. Earlier in December, Morgan Stanley downgraded the stock to Equal weight rating, citing valuation concerns.
Mark Tepper, president of Strategic Wealth Partners, recently said in an interview with CNBC that it’s time to “take some profits” from Palantir by selling the stock. The analyst also showed concerns about the company’s market scope beyond government projects.