11 Best IT Stocks to Buy According to Wall Street Analysts

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7. Palantir Technologies Inc. (NASDAQ:PLTR)

Palantir Technologies Inc. (NASDAQ:PLTR) is one of the Best IT Stocks to Buy According to Wall Street Analysts. On March 3, Piper Sandler reiterated an Overweight rating on Palantir Technologies Inc. (NASDAQ:PLTR) with a $230 price target.

The rating affirmation follows President Trump’s order to every federal agency to stop using Anthropic. On March 1, The Pentagon, Department of Defense, and Treasury Department designated Anthropic as a national security supply-chain risk following a public dispute. This has led to contract cancellations and a six-month phase-out of its technology from military and intelligence systems.

Piper Sandler noted that de-platforming Anthropic could cause short-term disruptions to Palantir’s operations and new government program implementations. This is because Palantir provides infrastructure for Anthropic’s Claude model in secure environments.

Piper Sandler noted that Anthropic is a pioneer in AI for data-sensitive settings but emphasized that Palantir can replace it with other vendors. The firm noted that the onboarding would divert time and resources of the company from growth initiatives.

Palantir Technologies Inc. (NASDAQ:PLTR) develops software platforms for data integration, analytics, and decision-making, serving government agencies and commercial enterprises. Its products, including Palantir Foundry and Gotham.

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