Palantir (PLTR) Stock: Top Analyst Sees Trillion-Dollar Potential as Shares Hit All-Time High

TLDR

• Palantir stock hit an all-time high of $198.39 on Wednesday with year-to-date gains exceeding 162%
• Wedbush analyst Dan Ives maintains a $200 price target and sees trillion-dollar potential for the company
• New partnerships with Nvidia and Snowflake strengthen Palantir’s AI platform capabilities and enterprise reach
• U.S. commercial revenue growing at 93% year-over-year, with Q3 earnings expected November 3
• Recent government contracts include a $385 million deal with U.S. Department of Veterans Affairs and Poland defense expansion

Palantir stock reached $198.39 on Wednesday, setting a new record. The shares have climbed more than 162% since January.

The rally follows a series of partnership announcements. The most recent deal involves Nvidia and integration of Palantir’s Foundry platform with Nvidia’s DGX systems.

Palantir Technologies Inc., PLTR

Ives believes demand for Palantir’s Artificial Intelligence Platform (AIP) continues rising across commercial and government markets. He expects the company to beat Wall Street’s Q3 forecasts when results arrive November 3.

The analyst said Palantir is improving products, adding top talent, and expanding worldwide. These moves strengthen its position in the AI space.

Growing Commercial Momentum

U.S. commercial revenue is growing at 93% year-over-year. This marks a shift from Palantir’s historically government-focused business model.

Management raised its 2025 revenue outlook to $4.15 billion. The company is approaching a $1 billion quarterly revenue milestone with 48% projected year-over-year growth.

Ives expects U.S. commercial revenue to grow more than 85% in fiscal 2025. Steady AIP adoption and rising demand across industries support this outlook.

Partnerships strengthen Palantir’s reach. The Snowflake deal connects Snowflake’s AI Data Cloud with Palantir’s Foundry and AIP platforms.

This allows customers to build AI models faster and more securely. The Nvidia partnership brings Blackwell architecture into Palantir’s AIP system.

Palantir’s CEO called the Lumen Technologies deal the “holy grail for businesses.” He claimed it could make AI data processing 200 times faster.

Government Contracts Continue

Palantir recently expanded work with UK Armed Forces through a partnership with Hadean. The company uses Foundry for advanced defense simulations.

A $385 million contract with the U.S. Department of Veterans Affairs was secured. Poland’s Ministry of National Defense signed a separate defense deal.

These contracts expand Palantir’s presence in NATO’s eastern region. They add to the company’s government sector portfolio.

Oracle’s Larry Ellison commented on Palantir’s business model. He stated AI needs private enterprise data, not just public web data, to reach its full potential.

Some institutional investors trimmed positions recently. JPMorgan and T. Rowe Price reduced holdings even as the stock climbs.

Stock split speculation emerged as shares trade near $200. Some believe a split could improve liquidity for retail investors.

The stock now trades at a price-to-earnings ratio above 650. This valuation leaves little room for error with earnings approaching.

Analysts forecast third-quarter earnings of $0.15 per share on revenue of $1.09 billion. Bulls point to AIP and data integration as competitive advantages.

Bears argue current valuation prices in years of perfect execution. Any miss on expectations could trigger a pullback.

Management cautioned increased hiring and investment spending could pressure margins. Third-quarter results are scheduled for release after market close on November 3, with analysts expecting revenue of $1.09 billion.

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