Palantir Technologies (PLTR) stock pulled back after its third-quarter results, even as analysts praised the company’s strong growth and rising demand for its artificial intelligence (AI) platforms. The stock continued its slide, falling over 2% in pre-market trading today.
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In a new report, Top DA Davidson analyst Gil Luria raised his price target on Palantir from $170 to $215, implying 12.7% upside potential. Luria said Palantir delivered “another outstanding quarter,” driven by fast-growing U.S. demand for AI solutions. However, he maintained a Neutral rating, noting that the stock’s high valuation already reflects much of the good news.
Analyst Says Palantir Is “the Best Story in Software”
Luria noted that Palantir’s revenue growth is picking up speed as more companies use its AI tools. He added that the company is well positioned to help clients use AI in their operations through its Ontology platform.
For reference, the Ontology platform links data from different systems and connects it with AI models to make better business decisions.
Calling Palantir “the best story in all of software,” Luria said the company’s strong position in applied AI and expanding customer base make it stand out from its peers.
Luria is a five-star analyst on TipRanks, ranking #505 out of 10,109 analysts tracked. He has a 58% success rate and an average return per rating of 16.80%.
Is PLTR Stock a Good Buy?
Currently, Wall Street has a Hold consensus rating on Palantir Technologies stock based on 11 Holds, three Buys, and two Sell recommendations. The average PLTR stock price target of $185.20 indicates a downside risk of 2.90% from current levels.
