tiprankstipranks
Trending News
More News >

“Don’t Miss This AI Powerhouse”: Top Analyst Boosts Palantir Stock (PLTR) Target to New Street-High

Story Highlights

Palantir Technologies got a boost as top analyst Daniel Ives raised his price target to a Street-high $160, citing the company’s AI strength.

“Don’t Miss This AI Powerhouse”: Top Analyst Boosts Palantir Stock (PLTR) Target to New Street-High

Palantir Technologies (PLTR) just got a major boost from one of Wall Street’s top tech analysts, Daniel Ives from Wedbush. He raised the price target on PLTR stock to a new Street-high of $160 (12% upside), up from $140, while maintaining a Buy rating. The Top analyst is optimistic about the company’s strong momentum in its AI strategy.

Don’t Miss TipRanks’ Half-Year Sale

Ives Sees PLTR on a Golden Path Ahead

The analyst believes PLTR is on a “golden path” to becoming the next Oracle (ORCL). The main reason for the optimism is Palantir’s Artificial Intelligence Platform (AIP), a fast-growing set of tools that is seeing strong adoption across both businesses and government agencies.

Importantly, Ives estimates that PLTR’s U.S. commercial AIP business alone could generate over $1 billion in revenue in the next few years.

Despite a high valuation, the analyst sees Palantir as a top pick in its “IVES AI 30” list, calling it the “Messi of AI” and a major player in the multi-trillion-dollar AI market over the next few years.

Wall Street is Underestimating PLTR’s Potential

Palantir stock has climbed about 90% year-to-date, and Ives sees more room to run. The analyst argues that the Street is underestimating PLTR’s competitive moat and long-term growth potential.

Overall, Ives believes that rising AI spending from the U.S. government and corporate sector is likely to boost Palantir’s revenues.

Is PLTR a Good Stock to Buy?

Turning to Wall Street, analysts have a Hold consensus rating on Palantir stock based on four Buys, nine Holds, and four Sells assigned in the past three months. The average PLTR stock price target is $108.27, implying a downside potential of 23.91%.

See more PLTR analyst ratings 

Disclaimer & DisclosureReport an Issue

1