Palantir Technologies (NYSE: PLTR) saw a pre-market stock increase after Wedbush predicted that its share price could nearly double from current levels.
Wedbush analysts have issued a bullish report on Palantir Technologies (NYSE: PLTR), suggesting the stock could potentially double in value. The firm maintains an Outperform rating on Palantir, setting a price target of $35 with a new bull case target of $50 for 2025.
Why Wedbush is Bullish on Palantir?
Wedbush attributes Palantir’s growth potential to its pivotal role in the artificial intelligence (AI) sector and the expanding applications of its products. Over the past year, Palantir has witnessed heightened demand for its enterprise-scale and enterprise-ready generative AI solutions across both commercial and government sectors. This growing demand is due to the company’s ability to help organizations accelerate their AI strategies, improve efficiencies, and achieve significant operational benefits.
In addition, Wedbush notes a significant milestone for Palantir: the company has completed over 1,300 boot camps, with more than 500 occurring in the past three months. This achievement underscores the practical, real-time value that users are deriving from its technology.
Wedbush wrote,
“With AI spending taking up more spending in IT budgets as more organizations learn how to properly implement this tech, we believe the Messi of AI Palantir is in a prime spot to continue expanding its pipeline as the company provides more use cases.”
The firm’s analysts believe that despite Palantir’s strong performance—up approximately 64% year-to-date compared to the software sector’s 15%—the stock remains undervalued and misunderstood by the market.
Wedbush analysts see Palantir as well-positioned to capitalize on the $1 trillion AI spending wave, as new applications emerge to address major industry challenges and improve data-driven decision-making.
Moreover, the firm notes that Palantir designs each platform in its portfolio to offer targeted AI and machine learning solutions for data analytics, collaboration, and operational optimization. This strategic focus positions the company to maintain its impressive growth trajectory.
In conclusion, Wedbush sees Palantir as a compelling investment opportunity within the AI space, asserting that the company’s stock significantly undervalues and holds substantial upside potential. As organizations increasingly invest in AI and machine learning, Palantir’s specialized solutions and growing use cases position it well for continued success and market leadership.
Palantir (NYSE: PLTR) Stock Movement
As of 09:07 a.m. (Eastern Time) Friday, PLTR stock traded at $28.78, marking a 0.49% increase compared to the previous trading session.
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