Bullish on the future prospects of Palantir Technologies (PLTR.US), the company is still committed to profitability through artificial intelligence technology, and its market cap may nearly double.
According to the Finance and Economics App, Wedbush analysts said in a report on Thursday that they are bullish on the future prospects of Palantir Technologies (PLTR.US), the company is still committed to profitability through artificial intelligence technology, and its market cap may nearly double. The stock received market attention and rose 1.49% on Thursday, up 0.38% before the opening.
Wedbush analyst Dan Ives believes that Palantir's core role in the artificial intelligence revolution and the growing use cases of its products are key drivers of future growth. The comments in the report highlight the analyst's confidence in the company's strength and potential in the field of artificial intelligence. Wedbush maintains an 'outperform' rating on the stock with a target price of $35, with a new bullish target price of $50 by 2025.
Analysts pointed out that in the past year, there has been a huge demand from business and government sectors for Palantir's enterprise-generated artificial intelligence solutions. They said the company's technology is helping organizations accelerate their AI strategies, improve efficiency, and achieve operational benefits beyond chat applications.
Wedbush explains that a notable milestone in Palantir's development strategy is the completion of more than 1,300 Bootcamp training camps, with more than 500 in just the past three months, highlighting the practical and real-time value users can gain from its technology.
Wedbush wrote: 'As more organizations learn how to implement this technology correctly, AI spending is taking up an increasing share of IT budgets. We believe that with the company providing more use cases, AI Palantir's Messi is in the best position to continue to expand its pipeline.'
They believe that Palantir is a key participant, ready to leverage the $1 trillion in AI spending and the emerging and increasingly diverse use cases to solve critical industry problems and strengthen data-driven decision-making.
Wedbush said that each platform in Palantir's investment portfolio is designed to provide specific AI and machine learning solutions for data analysis, collaboration, and operational optimization, adding that this will enable the company to continue its impressive growth trajectory.
It is worth noting that although Palantir's performance has far exceeded its peers, with the stock rising about 64% since the beginning of the year, while the software industry's performance is 15%, Wedbush believes that Palantir is still undervalued and misunderstood by the market, and represents an impressive investment opportunity with broad potential.
In addition, analysts generally expect Palantir's second quarter performance revenue to be $0.65247 billion and EPS to be $0.08 per share.