Analyst Touts Palantir (PLTR) as Top Software Stock, Raises Target to $215

Bassyonni

ago 3 hours

Analyst Touts Palantir (PLTR) as Top Software Stock, Raises Target to $215

Palantir Technologies (PLTR) has recently seen market fluctuations following its third-quarter results. Despite analysts highlighting the company’s robust growth and heightened demand for its artificial intelligence (AI) solutions, the stock dipped over 2% in pre-market trading.

Analyst Update: New Target Price for Palantir

Top DA Davidson analyst Gil Luria has provided an optimistic outlook for Palantir, raising his price target from $170 to $215. This adjustment suggests a potential upside of 12.7%. Luria described the recent quarter as “outstanding,” primarily attributing growth to escalating U.S. demand for AI technologies.

Valuation Concerns

Despite the positive review, Luria has maintained a Neutral rating on the stock. He cited that the current valuation adequately reflects much of the positive news surrounding the company.

Palantir’s Strong Growth and AI Advancements

Luria remarked that Palantir’s revenue growth is accelerating due to increased utilization of its AI tools.
He emphasized the company’s capability to assist clients in effectively integrating AI into their operations.
The Ontology platform plays a pivotal role by linking data from various systems with AI models for improved decision-making.

Recognition as a Leader in Software

Luria referred to Palantir as “the best story in all of software.” He believes its robust position within applied AI and growing customer base distinguishes it from competitors. Luria is recognized as a top-tier analyst on TipRanks, holding a five-star rating and ranking #505 among over 10,000 analysts. His success rate is 58%, with an average return of 16.80% per rating.

Current Market Consensus on PLTR Stock

As of now, Wall Street has a Hold consensus for Palantir Technologies. This rating is based on a mix of recommendations, including 11 Hold ratings, three Buy ratings, and two Sell ratings. The average price target for PLTR stock stands at $185.20, suggesting a potential downside risk of 2.90% from the current stock price.