Investing.com — Wedbush Securities raised its price target for Palantir Technologies (NASDAQ: ) to $90 per share by 1 point on Thursday, representing a new street high. The company has maintained an Outperform rating on the stock.
“We are raising our price target on Palantir from $75 to $90 as our recent checks and growing confidence in the company’s AI strategy is key to Palantir’s 2025 bull thesis,” the company said.
Wedbush believes Palantir has the potential to become a major force in the AI market, on par with industry giants such as Oracle (NYSE: ) and Salesforce (NYSE: ).
“We believe Palantir has a path to becoming the next Oracle or Salesforce in the coming years,” the paper read. “We see AI Messi as the main winner of the AI billions in the next few years.”
The company highlighted the growing use of Palantir’s Artificial Intelligence Platform (AIP), particularly in both commercial and government sectors.
Wedbush said they believe the reversal of boot camp deals will be a key theme for Palantir over the next few quarters, as “the Street still underperforms the underlying AIP growth in our view.”
“We’re hearing from clients that bootcamps provide unparalleled value and AI insights that lead to faster sales cycles and reduced conversion times for products, increased workflow, and form use cases,” Wedbush wrote.
“AIP Generates More Traction with Advanced AI Stack. PLTR continues to see unprecedented demand for AIP based on our recent testing across commercial and government environments,” the company added.
The company also emphasized Palantir’s tailwinds from current management. They believe that the Trump Administration represents an additional tailwind for PLTR, noting that AI efforts in the US government, including the DoD, are accelerating as AI remains focused on the federal front.
The company acknowledged a one-time impact of $120 million in stock-based compensation expense in the fourth quarter but stressed that this would not impact pro forma earnings or cash flow.
