Artificial Intelligence (AI) sector optimism continues to drive growth in Palantir Technologies Inc., with Managing Director Dan Ives predicting a pivotal year for AI implementation across industries in 2025.
Ives recently upgraded Palantir’s price target to $75, while also increasing the ratings of Elastic NV ESTC and Snowflake Inc SNOW. The upgrades signal broader confidence in the software sector’s AI potential.
Palantir has seen significant growth, with its market capitalization soaring to over $140 billion. This comes as the company secures major contracts, including a $480 million Pentagon contract for Project Maven. Palantir reported its first profitable year in 2023, earning $144 million in third-quarter net income.
However, some investors express caution regarding valuations, with major hedge funds reducing their holdings. The company’s high P/E ratio of 328.85 and significant retail investor base have raised concerns about market volatility.
Despite this, Palantir’s stock price has surged 288% year-to-date, according to data from Benzinga Pro. The stock closed at $64.35 on Friday, gaining 4.87%.
Source: https://www.benzinga.com/news/global/24/11/42156160/palantir-price-target-raised-to-75-by-dan-ives-amid-288-ytd-surge-analyst-calls-2025-a-primetime-year-for-ai