Palantir (PLTR) Stock: Wedbush Raises Price Target to $230 Ahead of Earnings November 03

TLDR

• Wedbush raised its price target on Palantir stock from $200 to $230 while maintaining an Outperform rating
• Analysts predict Palantir could reach a trillion-dollar market cap within 2-3 years as the company expands its commercial AI business
• The firm expects Palantir to beat Street estimates of $1.09 billion in revenue, driven by strong demand for its Artificial Intelligence Platform (AIP)
• Palantir’s bootcamp model is delivering quick sales cycles and fast conversion timelines for customers deploying AI solutions
• Increased AI investments under the Trump Administration, including Project Stargate, could benefit Palantir’s government business segment

Wedbush Securities raised its price target on Palantir Technologies to $230 from $200 ahead of the company’s third-quarter earnings report scheduled for November 3 after market close. The firm kept its Outperform rating on the stock.

Daniel Ives and his team at Wedbush called the upcoming earnings release another step forward for what they described as an “AI juggernaut.” The analysts believe Palantir will exceed Wall Street’s revenue estimate of $1.09 billion for the quarter.

Palantir Technologies Inc., PLTR

Shares rose about 2% in premarket trading on Monday. The stock closed at $200.47 on Friday, up 3% for the day.

Commercial Business Growth Drives Optimism

The analysts think the Street is underestimating Palantir’s commercial efforts. They point to the company’s Artificial Intelligence Platform as the key driver delivering value to customers.

Field checks across commercial and government sectors show unprecedented demand for AIP. The platform helps organizations solve problems at enterprise scale, leading to new customer acquisitions and expansion of existing deals.

Palantir’s bootcamp approach is getting particular attention from the analysts. These sessions provide customers with quick AI insights and value.

The bootcamp model shortens sales cycles considerably. Customers can deploy products, optimize workflows, and develop use cases faster than traditional enterprise software implementations.

Many customers report that bootcamps deliver unmatched value. This feedback comes from Wedbush’s recent checks with Palantir clients.

Government Sector Opportunities

The analysts noted that AI investments under the Trump Administration could boost Palantir’s government vertical. Project Stargate and other initiatives represent potential growth catalysts.

The analysts expect CEO Alex Karp and his team to secure a bigger role in government AI projects. This includes opportunities in the Middle East, where AI adoption is accelerating.

Wedbush predicts Palantir will reach a trillion-dollar market cap within two to three years. This projection assumes the company successfully builds its commercial business into a multi-billion dollar operation.

Analysts expect quarterly earnings of 17 cents per share, up from 10 cents in the same period last year. Revenue consensus stands at $1.09 billion compared to $725.52 million a year earlier.

On October 28, Palantir announced a partnership with Nvidia. The collaboration adds to recent positive developments for the company.

Several other analysts have updated their views on Palantir recently. Citigroup’s Tyler Radke raised his price target from $177 to $190 while maintaining a Neutral rating on October 28.

Bank of America Securities analyst Mariana Perez Mora kept a Buy rating and increased her target from $180 to $215 on September 23. HSBC’s Stephen Bersey maintained a Hold rating and lifted his target from $111 to $181 on August 6.

Goldman Sachs analyst Gabriela Borges kept a Neutral rating and raised her target from $90 to $141 on August 6. DA Davidson’s Gil Luria maintained a Neutral rating and increased his target from $115 to $170 on August 5.

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