Wedbush Analyst Predicts 23% Palantir Stock Increase on Strong AI Growth
Tech analyst Daniel Ives of Wedbush has a bullish outlook on pltr stock, predicting a 23% price increase. This optimism comes as Palantir, a leading AI company, reports strong financial performance and growth in its 'Foundry' platform.
Palantir, specializing in AI software, has seen its market grow by an average of 23% annually. The company's recent profitability, with an expected 250% profit on $0.33 per share, has bolstered investor confidence. This fiscal year, Palantir's 'Foundry' platform has seen significant revenue growth, increasing by 27% and 40% in the first quarter compared to the previous year in total and the US market respectively.
Analyst Ives rates pltr stock as 'Outperform' with a price target of $35, reflecting his optimistic view. He expects double-digit revenue growth for the current and next fiscal year. Palantir's AI platform AIP, introduced last year, is driving this growth.
Palantir's strong financial performance and growth potential have led Wedbush analyst Daniel Ives to predict a 23% increase in the company's pltr stock price. To sustain this growth, Palantir must continue to demonstrate its solid foundation in the AI field in the coming quarters.
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