Mark Schappel, an analyst from Loop Capital Markets, has initiated a new Buy rating on Palantir Technologies (PLTR).
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Mark Schappel’s rating is based on Palantir Technologies’ strategic positioning within the rapidly expanding AI market. The company offers a cutting-edge AI data platform that aids government and commercial enterprises in making data-driven decisions by identifying complex patterns in extensive datasets. A distinguishing feature of Palantir’s platform is its Ontology, which simplifies data representation, thus enhancing AI-driven decision-making capabilities.
Although concerns about valuation exist, with Palantir trading at high multiples, Schappel believes in the transformative potential of the company. Palantir is seen as a leader in the AI domain, similar to how Adobe and Salesforce have dominated their respective areas. Schappel recommends investors to consider building initial positions in Palantir, acknowledging the company’s potential to significantly grow in the burgeoning AI sector.
According to TipRanks, Schappel is a 5-star analyst with an average return of 11.6% and a 59.92% success rate. Schappel covers the Technology sector, focusing on stocks such as Procore Technologies, Manhattan Associates, and Pegasystems.
In another report released on February 4, Bank of America Securities also maintained a Buy rating on the stock with a $125.00 price target.