Palantir's AI Surge: Wedbush Sets New $90 Price Target, Sees Massive Growth

GuruFocus01-23

Palantir Technologies (PLTR, Financial) is gaining attention after Wedbush Securities raised its price target to $90, marking a new Street high while maintaining an Outperform rating. The firm sees Palantir as a potential AI powerhouse, comparing it to Oracle (ORCL, Financial) and Salesforce (CRM, Financial) in terms of long-term industry influence.

Wedbush cites Palantir's Artificial Intelligence Platform (AIP) as a key growth driver, noting its expanding adoption in commercial and government sectors. The firm believes boot camp deal conversions will be a major theme moving forward, arguing that Wall Street is still underestimating AIP's potential. Customer feedback suggests Palantir's AI boot camps are accelerating sales cycles, helping companies quickly deploy AI-driven solutions.

Government AI initiatives, particularly under the Trump Administration, are also expected to provide tailwinds, with increased federal focus on AI and defense applications. Despite a $120 million stock-based compensation expense in Q4, Wedbush says it won't impact pro forma earnings or cash flows, keeping their bullish outlook intact.

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