Wedbush analysts issued a bullish outlook for Palantir Technologies Inc . (NYSE:PLTR) in a note Thursday, suggesting the stock could nearly double in value.
They cite Palantir’s central role in the AI revolution and expanding use cases for its products as key drivers of future growth.
Over the past year, the firm notes Palantir has seen significant demand for its enterprise-scale and enterprise-ready generative artificial intelligence solutions across both commercial and government sectors.
They state that the company’s technology is helping organizations accelerate their AI strategies, improve efficiencies, and achieve operational benefits beyond just chat applications.
Wedbush explains that a notable milestone in Palantir’s growth strategy has been the completion of over 1,300 bootcamps, with over 500 in the past three months alone, highlighting the practical, real-time value users can derive from their technology.
“With AI spending taking up more spending in IT budgets as more organizations learn how to properly implement this tech, we believe the Messi of AI Palantir is in a prime spot to continue expanding its pipeline as the company provides more use cases,” wrote Wedbush.
Wedbush’s comments underscore their belief in the company’s prowess and potential in the AI space. The firm maintains its Outperform rating on the stock, with a price target of $35 and a new bull case target of $50 for 2025.
Despite already outperforming its peer group—up approximately 64% year-to-date compared to the software sector’s 15%—Wedbush believes Palantir is still undervalued and misunderstood by the market.
They see Palantir as a pivotal player poised to capitalize on the $1 trillion AI spending wave, with more use cases emerging to tackle critical industry problems and enhance data-driven decision-making.
Each platform in Palantir’s portfolio is designed to offer specific AI and machine learning solutions for data analytics, collaboration, and operational optimization, says Wedbush, adding that it positions the company to continue its impressive growth trajectory.
The firm concludes that in the ongoing debate about Palantir’s potential, the company remains significantly undervalued and represents a compelling investment opportunity.
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