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 CoursesRecent news
SpaceX Stock Climbs 10% on Day Two as Musk Eyes $1 Trillion Revenue by 2030
SpaceX shares continued to surge, rising 10% to $177.13 by midday Monday. This follows a 19% jump on Friday’s debut. The gains are being driven by Elon Musk’s bold revenue forecasts, strong demand in secondary markets, and a broader market rally after news of a U.S.-Iran peace deal. Here’s a look at what’s behind the […]
Nvidia Shares Rise 2.7% as Chip Maker Targets $20B Bond Offering
NVIDIA is entering the debt markets for the first time in five years. Its shares rose 2.7% in early trading on Monday after the company released a prospectus for a multi-part offering of senior unsecured investment-grade notes, marking its first bond deal since 2021. Here’s a look at what this offering involves and what it […]
Roku Shares Rise 2.8% After Fox Agrees to $22B Acquisition Deal
Fox Corp has agreed to buy Roku, a streaming technology company, for $160 per share, which values Roku at about $22 billion. On Monday, Roku shares went up 2.8% in premarket trading, while Fox Class A shares dropped 13%. Roku’s smaller gain comes after its stock jumped 20% on Friday when news of the talks […]
Trade with fewer limits
Day trade with fewer limits at fast speed. Buy stocks and ETFs at low fees.