Palantir (PLTR) Gets Buy Rating Amid Expanding AI Backlog

Palantir Technologies Inc. (NASDAQ:PLTR) ranks among the best big data stocks to invest in. Following investor discussions with Palantir Technologies Inc. (NASDAQ:PLTR) executives in South Korea, BofA Securities reiterated its Buy rating and $255 price target for the company’s shares on December 15. According to BofA analyst Mariana Perez Mora, Palantir’s CFO Dave Glazer attended the discussions, as did Deployment Strategists Hind Kraytem and Austin Lee, and Investor Relations representative Cary Li.

BofA voiced optimism regarding Palantir’s growth trajectory, a development coinciding with enterprise-level AI use. The firm added that US Commercial continues to showcase the highest progress, aided by a growing backlog, shorter contract durations, and customers moving quickly through Palantir’s value chain.

Palantir Technologies Inc. (NASDAQ:PLTR) also recently won a $448 million, two-year US Navy award in the government business sector. The agreement, known as ShipOS, intends to improve naval shipbuilding operations by implementing Palantir’s Foundry and Artificial Intelligence Platform throughout the Maritime Industrial Base. BofA stated that this contract fits Palantir Technologies Inc. (NASDAQ:PLTR) with the Trump administration’s aspirations for American reindustrialization.

Palantir Technologies Inc. (NASDAQ:PLTR) is a software company that provides platforms to help organizations integrate, manage, and secure large datasets for human-driven analysis. Its two primary platforms are Gotham, used by government and defense agencies for intelligence and defense operations, and Foundry.

While we acknowledge the potential of PLTR to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than PLTR and that has 100x 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.