Wedbush analysts on Monday raised their target price on Palantir Technologies Inc (NYSE:PLTR) to $230 per share, from $200, believing the company will reach a trillion-dollar market cap over the next two to three years as Palantir enters its next growth stage in the AI revolution.
“Palantir continues to see unprecedented demand for AIP (Artificial Intelligence Platform) based on our recent checks in the field across both commercial and government landscapes by taking AI solutions that solve meaningful problems across organizations at enterprise scale driving new customer conversions and existing deal expansions," the analysts wrote in a note to clients.
They believe the company can beat Wall Street’s quarterly revenue estimate of $1.09 billion as they think analysts are underestimating the company’s commercial efforts.
The analysts view the company's recent initiatives, such as bringing Nvidia’s Blackwell architecture to its AIP, as placing Palantir in a strong position to drive continued growth from AI demand as the company’s platform solutions become increasingly integrated across the enterprise landscape, with fiscal 2025 US commercial revenue expected to grow by 85% plus.
Palantir Technologies shares rose 2.5% to $205.53 in midday trading on Monday.