Palantir Technologies Inc. (NASDAQ:PLTR) is among the top 10 stocks to buy from Cathie Wood’s stock portfolio. ARK Investment held around $736 million of Palantir stock at third-quarter-end, representing about 4.4% of its disclosed portfolio. Its stake, measured in terms of the number of shares, has only marginally decreased to 4.04 million from 4.08 million at the end of Q2.
As of market close on November 27, analysts hold a cautious outlook on Palantir Technologies Inc. (NASDAQ:PLTR), with nearly 80% of analysts covering it assigning a Hold or Sell rating. With a consensus 1-year median price target of $190, the stock has a 13% upside.
According to a November 14 Bloomberg report, Louis Mosley, Palantir’s UK head, said that Palantir Technologies Inc. (NASDAQ:PLTR) has outlined plans for a significant expansion in the UK. This “significant investment” will position the country as a core market for future defense-technology growth amid slower adoption across continental Europe. Mosley emphasized the UK as a strategic entry point into broader European defense markets. He stated:
“The UK can be an epicenter of defense and military technology development. It has all of those ingredients.” He also added, “The UK is the premier military power in Europe. I think it has the potential to be a key bridge into the rest of the continent.”
The report noted that the UK is accelerating its defense modernization, including investments in autonomous systems and AI-driven battlefield software that support these investments. Palantir Technologies Inc. (NASDAQ:PLTR) has already committed £1.5 billion to the region and is finalizing a new £750 million, five-year agreement with the Ministry of Defence.
Palantir’s CEO Alex Karp recently flagged “stagnant” European growth as a drag on overall performance. With roughly 1,000 employees in London, the office is Palantir’s second-largest globally, and the UK contributes around 10% to Palantir’s revenue.
Palantir Technologies Inc. (NASDAQ:PLTR) is a software company that builds and deploys data integration and analytics platforms for both government and commercial clients.
While we acknowledge the risk and potential of PLTR as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than PLTR and that has 10,000% upside potential, check out our report about this cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.
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