Palantir (PLTR) Stock: Analyst Raises Price Target to $230 Ahead of Q3 Earnings
TLDR
- Wedbush Securities increased Palantir’s price target to $230 from $200 ahead of Q3 earnings on November 3
- Analysts project a trillion-dollar market cap within 2-3 years driven by commercial AI expansion
- The firm expects revenue to exceed Wall Street’s $1.09 billion estimate due to strong AIP demand
- Palantir’s bootcamp approach is accelerating customer conversions and shortening sales cycles
- Trump Administration AI investments, including Project Stargate, could boost government revenue
Wedbush Securities lifted its price target on Palantir Technologies to $230 from $200 before the company reports third-quarter earnings after market close on November 3. The firm maintained its Outperform rating.
Analyst Daniel Ives and his team expect Palantir to surpass Wall Street’s revenue consensus of $1.09 billion. They cite growing demand for the company’s Artificial Intelligence Platform.
Palantir Technologies Inc., PLTR
Palantir shares climbed 2% in premarket trading Monday. The stock closed Friday at $200.47, up 3% for the session.
AI Platform Drives Commercial Success
Wedbush believes Wall Street underestimates Palantir’s commercial business potential. The Artificial Intelligence Platform continues delivering value across enterprise organizations.
Field research shows unprecedented demand for AIP in both commercial and government sectors. The platform helps companies solve complex problems at scale.
Palantir’s bootcamp model is proving effective. These sessions provide customers with rapid AI insights and practical applications.
The bootcamp strategy shortens traditional enterprise sales cycles. Organizations can deploy solutions, optimize operations, and create use cases faster than conventional methods.
Customer feedback highlights the value these sessions deliver. Wedbush’s recent checks confirm bootcamps are driving quick conversions.
Government Sector Expansion
AI investments under the Trump Administration could expand Palantir’s government business. Project Stargate and similar initiatives represent growth opportunities.
The company is well-positioned in what analysts call a disciplined spending environment. CEO Alex Karp and his team should gain increased influence in government AI projects.
This includes expansion in the Middle East, where AI adoption is accelerating across the region.
Wedbush predicts Palantir will achieve a trillion-dollar market cap within two to three years. This forecast assumes continued commercial business growth into a multi-billion dollar operation.
Analysts expect earnings of 17 cents per share, up from 10 cents year-over-year. Revenue consensus stands at $1.09 billion versus $725.52 million in the prior-year quarter.
Palantir announced a partnership with Nvidia on October 28, adding to recent positive developments.
Multiple analysts recently updated their Palantir outlook. Citigroup raised its target to $190 from $177 with a Neutral rating on October 28.
Bank of America Securities increased its target to $215 from $180 while maintaining a Buy rating on September 23. HSBC lifted its target to $181 from $111 with a Hold rating on August 6.
Goldman Sachs raised its target to $141 from $90 with a Neutral rating on August 6. DA Davidson increased its target to $170 from $115 while keeping a Neutral rating on August 5.
The post Palantir (PLTR) Stock: Analyst Raises Price Target to $230 Ahead of Q3 Earnings appeared first on Blockonomi.
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