Andrew Left's Firm Says OpenAI's Growth Proves Palantir Is Overvalued - Business Insider

Citron Research's Andrew Left doubles down on his criticism of Palantir Technologies with a detailed valuation analysis comparing the data analytics company to OpenAI.

Left's investment firm published a comprehensive note arguing that Palantir remains overvalued even at significantly lower prices. The analysis uses OpenAI's $500 billion valuation as a benchmark, calculating that Palantir would need to trade at $40 per share to match OpenAI's price-to-revenue multiple of 17x. However, Citron argues that even at this 77% discount from recent highs, Palantir would still rank among the most expensive software-as-a-service stocks historically.

• Citron Research updated its Palantir price target, suggesting the stock would still be expensive even at $40 per share
• The firm questions whether Palantir deserves to trade at the same valuation multiple as OpenAI, highlighting the AI giant's unprecedented growth scale
• Palantir stock has declined over the past week despite strong Q2 earnings and 118% year-to-date gains
• Left argues Palantir has become "detached from fundamentals," ironically contradicting the analytical services the company provides