Stocks are slipping on Wall Street after a big jump last week on hopes for more interest rate cuts from the Federal Reserve.

Figma’s initial public offering last month was an instant hit. Shares soared 250% in their first day of trading. But the stock has surrendered over 30% of its gains as of Friday’s close, and most analysts are approaching the company with caution.

Rishi Jaluria of RBC Capital Management, a subsidiary of the Royal Bank of Canada, has a $45 price target on Palantir's stock. So the stock still needs to tumble about 70% more to reach his price target. That's a long way to fall for a proven AI leader, but is that a legitimate price target?