NEW YORK, May 7 (Reuters) - Shares of Palantir Technologies were down more than 14% in early afternoon trading on Tuesday and on track for their biggest daily percentage drop since May 2022, a day after the data analytics company gave a revenue forecast that disappointed.

The stock was bucking the day's broader trend in shares on Tuesday, with all three major U.S. stock indexes up slightly.

Late on Monday, the company raised its annual revenue forecast amid strong demand for its services that help businesses deploy artificial intelligence applications, but the forecast missed Wall Street's lofty expectations.

Still, several brokerages raised their price targets following the report, including D.A. Davidson, which raised its target to $24 from $19.

"While guidance for FY2024 was increased, it was lighter than expected," D.A. Davidson analysts wrote in their research note, adding that management had noted "they're seeing unavoidable headwinds in Europe."

But they wrote that overall the company results for the first quarter were "solid... driven by further operating margin expansion and growth within US Commercial revenue." D.A. Davidson is keeping its "neutral" rating on the stock.

Jefferies analysts wrote that investors may be focused on high multiples for the stock.

Including the session move, the stock is up roughly 26% for the year so far.

The day's trading volume in Palantir so far was more than two times the 10-day moving average volume. (Reporting by Caroline Valetkevitch, Editing by Rosalba O'Brien)