Alex Karp, the CEO of AI software firm Palantir Technologies (PLTR), spoke out on Wednesday in defense of his company’s work with the Trump administration, especially around immigration policy. During the New York Times DealBook Summit, Karp said that he personally supports stricter immigration rules and believes in strengthening the U.S. military’s ability to deter threats. “On those two issues, this president has performed,” Karp said, referring to Trump.
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He also dismissed claims that Trump is a fascist, saying, “Of course not. I think that’s stupid.” Karp, who mentioned that he used to identify as a Democrat, also defended Palantir’s contracts with the Department of Homeland Security, which includes its work with U.S. Immigration and Customs Enforcement (ICE). In fact, the company has received multiple government contracts in order to build software that supports immigration enforcement efforts.
However, these deals have led to criticism from those who are concerned about how the technology could be used, especially when it comes to privacy and surveillance. Nevertheless, Karp said that Palantir is “absolutely not” creating surveillance tools for the federal government. Instead, he explained that the company’s software is meant to help agencies share data more effectively.
Is PLTR Stock a Good Buy?
Overall, analysts have a Hold consensus rating on PLTR stock based on three Buys, 11 Holds, and two Sells assigned in the past three months, as indicated by the graphic below. Furthermore, the average PLTR price target of $183.07 per share implies 5% upside potential.
