RBC downgrades Palantir on slowing revenue growth, says stock can fall more than 20%

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Jesse Pound@/in/jesse-pound@jesserpound
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A banner featuring the logo of Palantir Technologies (PLTR) is seen at the New York Stock Exchange (NYSE) on the day of their initial public offering (IPO) in Manhattan, New York City, U.S., September 30, 2020.
Andrew Kelly | Reuters

The bullish case for Palantir is starting to show some weak spots and investors should be wary of the stock, according to RBC Capital Markets.