Palantir Technologies, a prominent data-analytics firm primarily serving the U.S. government, has significant growth potential according to Wedbush analysts led by Dan Ives.
Throughout this year, Palantir stock has surged 64%, driven by enthusiasm surrounding artificial intelligence. On Thursday morning, it increased by 0.6% in premarket trading to $28.38 while futures tracking the S&P 500 rose slightly by 0.1%.
Despite a general tech selloff on Wednesday, Wedbush maintained an Outperform rating for Palantir with a price target of $35 and suggested that shares could reach as high as $50 if companies continue increasing their AI-related spending.
Wedbush stated: “Palantir is well-positioned to capitalize on this $1 trillion AI spending wave with more applications addressing critical issues across industries and enhancing data-driven decision-making.” They believe that the company’s value remains underestimated and misunderstood.
However, not all analysts share this optimism. Mizuho’s team led by Gregg Moskowitz downgraded Palantir stock from Neutral to Underperform earlier in the week due to concerns that its current valuation is overly inflated.
Featured Courses
Recent news
Microsoft Heads for Worst Quarter Since 2008
Microsoft is facing its largest quarterly decline since 2008. Shares are down about 25% this quarter, making it the weakest Magnificent Seven member by a wide margin. The group is down roughly 14%. The stock fell another 1.7% after Friday’s open, marking a fourth consecutive day of losses. Two primary risks are driving Microsoft’s selloff […]
Unity Stock Surges 13% on AI-Focused Restructuring
Unity Software shares jumped 13% to $19.39 in premarket trading on Friday, briefly beating the S&P 500. Investors liked the company’s decision to cut weak assets and focus on AI-powered revenue growth. The main reasons were a strong first-quarter revenue outlook and Unity’s plan to shut down its ironSource Ads Network on April 30 and […]
NVIDIA Cheaper Than the S&P 500: Is This the Floor?
NVIDIA’s stock is now at its lowest valuation relative to the broader market in over ten years. This creates a rare buying opportunity for investors, as bargain hunters and long-term investors may find the historically low valuation appealing despite ongoing pressure on AI-related technology stocks. The main thesis is that NVIDIA is a unique investment […]
Trade with fewer limits
Day trade with fewer limits at fast speed. Buy stocks and ETFs at low fees.