Palantir Technologies (PLTR) is set to report its third-quarter results after the market closes on Monday, with analysts more pessimistic than optimistic about whether the analytics software provider's stock can sustain its recent momentum.

Of the 12 Palantir analysts tracked by Visible Alpha, only two expect the company's stock to continue rising. Their price targets range from $16 to $50, with an average of $27.55 representing a 34% decline from Friday's closing price of $41.92.

The dire forecast comes amid concerns about whether the stock can keep up with the pace of recent gains due to strong demand for the company's artificial intelligence platform.

Palantir reported better-than-expected second-quarter results and raised its full-year guidance as revenue rose 27% year-over-year. Consensus estimates expect Palantir to report third-quarter revenue growth of 26% to $704.9 million and earnings per share of 5 cents, up from 3 cents per share a year ago.

The stock has risen nearly 40% since early September, when S&P Global announced that Palantir would be added to the S&P 500 later this month, and has more than doubled in value since the beginning of the year.