TLDR
- Wedbush analyst Daniel Ives raised Palantir’s price target from $200 to $230 before Q3 earnings
- The firm projects Palantir could reach a trillion-dollar valuation in 2-3 years
- Analysts expect the company to beat revenue estimates of $1.09 billion for the quarter
- Strong customer demand for Palantir’s AI Platform is driving faster sales cycles
- Government AI spending under the Trump Administration could accelerate growth
Wedbush Securities analyst Daniel Ives boosted his price target on Palantir Technologies to $230 from $200. The upgrade comes ahead of the company’s third-quarter earnings release scheduled for November 3 after market hours.
Ives maintained an Outperform rating on the stock. He expects the earnings report will show continued momentum for the AI-focused software company.
Palantir Technologies Inc., PLTR
Palantir shares gained 2% in premarket trading on Monday. The stock finished Friday’s session at $200.47, posting a 3% gain.
Wall Street expects Palantir to report revenue of $1.09 billion for the quarter. Analysts forecast earnings of 17 cents per share, up from 10 cents in the year-ago period.
Commercial AI Business Accelerates
Wedbush believes Palantir will exceed revenue expectations. The analysts point to strong demand for the company’s Artificial Intelligence Platform.
Field research indicates customers across commercial and government sectors are rapidly adopting AIP. The platform helps organizations implement AI solutions at enterprise scale.
Palantir’s bootcamp sessions are proving particularly effective. These workshops provide customers with hands-on AI training and practical use cases.
The bootcamp model dramatically reduces typical enterprise software sales cycles. Companies can deploy Palantir’s tools and optimize workflows much faster than traditional implementations.
Customer feedback collected by Wedbush shows these sessions deliver exceptional value. The approach is converting prospects into paying customers at an accelerated pace.
Government Contract Opportunities
Increased AI investment by the Trump Administration could boost Palantir’s government business. Ives highlighted Project Stargate and other federal initiatives as potential catalysts.
The company is positioned to benefit from new government spending priorities. CEO Alex Karp and his leadership team are expected to secure more high-profile contracts.
Palantir is also expanding its presence in international markets. The Middle East shows particularly strong AI adoption trends that could benefit the company.
Wedbush forecasts Palantir will achieve a trillion-dollar market cap within the next two to three years. This prediction relies on the company successfully scaling its commercial operations.
Several Wall Street firms recently adjusted their Palantir price targets. Citigroup analyst Tyler Radke increased his target to $190 from $177 on October 28 while keeping a Neutral rating.
Bank of America Securities analyst Mariana Perez Mora raised her target to $215 from $180 on September 23. She maintained a Buy rating on the shares.
HSBC analyst Stephen Bersey lifted his price target to $181 from $111 on August 6. Goldman Sachs analyst Gabriela Borges increased her target to $141 from $90 the same day.
DA Davidson analyst Gil Luria raised his price target to $170 from $115 on August 5. All three analysts maintained their respective Neutral or Hold ratings.
Palantir announced a strategic partnership with Nvidia on October 28, expanding its AI capabilities.
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