Palantir Technologies, Inc. (NYSE:PLTR) reported fourth-quarter revenue that surpassed forecasts and bottom-line results in line with expectations, marking the fourth consecutive quarter of GAAP profitability. A bullish analyst raised the price target for the stock.
“The Messi of AI Delivers in World Cup Fashion,” he said.
The Palantir Analyst: Wedbush’s Daniel Ives maintained an Outperform rating and raised the price target from $25 to $30, a 20% upward adjustment, suggesting scope for 79.43% upside potential.
The Palantir Thesis: The price target revision is due to the “off-the-charts commercial success Palantir is finding with AIP out of the gates,” said Ives in a note.
“A handful of times every decade there are tech companies that are so ahead of the competition and in a sweet spot of the future growth…yet the Street at the time dismisses it ...