Palantir Technologies (PLTR) has hit what top Wedbush analyst Dan Ives called a “big moment,” after its latest customer event drew solid interest from new and existing clients. In a new note, Ives said the reaction to Palantir’s demos was stronger than he expected and showed a shift in how customers are viewing the company’s AI tools.
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Many customers said they heard about Palantir through word of mouth from partners who had already adopted its tools. But once they saw the demos, they were surprised by how useful the tools were. Wedbush said this reaction shows that many people still do not fully understand the value Palantir can offer, which leaves room for more demand.
Ives also pointed to a steady mix of new and existing customers. New clients are signing multi-year deals, while current clients are spending more across Palantir’s products. The event featured more than 30 demos from different industries, all built on the AIP platform
It is worth noting that Ives ranks 406 out of more than 10,000 analysts tracked by TipRanks. He has a success rate of 55%, with an average return per rating of 15.6% over a one-year timeframe.
New Projects Add to the Momentum
Ives also pointed to the launch of Palantir’s Chain Reaction platform. The tool is being developed with CenterPoint Energy and Nvidia (NVDA). Wedbush believes this platform can help speed up AI use in energy, utilities, and other industrial areas.
Separately, Palantir signed a new partnership with Teton Ridge, a western sports and entertainment company owned by TWG AI. Together with Nvidia, Palantir will bring real-time AI and computer vision tools to rodeo events. Wedbush said this shows Palantir is expanding into new commercial markets.
Is PLTR a Good Stock to Buy Now?
Overall, Wall Street is sidelined on PLTR stock, with a Hold consensus rating based on three Buys, 11 Holds, and two Sell recommendations. The average PLTR stock price target of $187.87 implies 3.36% upside risk from current levels.
