5 Best Defense Stocks That Will Skyrocket

2. Palantir Technologies Inc. (NASDAQ:PLTR)

Stock Upside Potential: 43.01%

Number of Hedge Fund Holders: 89

Palantir Technologies Inc. (NASDAQ:PLTR) is one of the best defense stocks that will skyrocket. On March 30, Palantir Technologies Inc. (NASDAQ:PLTR) reached an agreement to renew and expand its strategic partnership with Stellantis. The new five-year agreement is to support Stellantis’ efforts in industrialization and to secure the use of data and artificial intelligence.

Stellantis has also agreed to broaden its use of Palantir Foundry. Consequently, it will start leveraging Palantir Artificial Intelligence Platform (AIP) in select business functions. The integration should allow Stellantis teams to consolidate fragmented datasets, improve transparency, and enable faster decision-making.

On the other hand, Wedbush has touted Palantir’s commitment to accelerating its US commercial and government businesses. Its US commercial grew 137% year over year, while US government business grew 66%, enabling revenue growth of 56% last year. Consequently, the research firm has reiterated an Outperform rating on the stock with a $230 price target.

Palantir Technologies Inc. (NASDAQ:PLTR) provides AI-enabled data analytics and software platforms (Gotham, Foundry, AIP) to defense and intelligence agencies, enabling them to integrate massive, siloed datasets for real-time decision-making. It powers multi-domain operations by connecting sensors to shooters, AI-driven targeting, threat detection, and battlefield intelligence.