Palantir Technologies (PLTR) Price Target Raised to $225 by Citi

Palantir Technologies Inc. (NASDAQ:PLTR) is one of the Best American AI Stocks to Buy Now. On May 7, Citi increased its price target on the stock to $225 from $210 and maintained a Buy rating, according to a report by TheFly.

Citi made the upward price target adjustment following the company’s first-quarter earnings report. It emphasized that AI demand is accelerating the company’s U.S. business.

Meanwhile, Rosenblatt also maintained its Buy rating on Palantir, increasing its price target to $225 from $200. Similarly, Bank of America Securities also reiterated a Buy rating on Palantir, setting a $255.00 price target. According to 32 analyst ratings compiled by CNN, Palantir has an average price target of $200, a 47.16% increase from the current price of $135.91.

On Monday, Palantir reported an 85% jump in total revenue for the first quarter to $1.633 billion, with U.S. revenue surging 104% to $1.282 billion. U.S. government revenue accounted for the bulk of the U.S. revenue at $687 million, an 84% rise from the same period last year. Similarly, U.S. commercial revenue also posted a 133% gain at $595 million.

As a result of the first quarter figures, the company is raising its revenue guidance for this year, projecting it to reach between $7.650 billion and $7.662 billion. For the second quarter of the year, Palantir expects revenue to range from $1.797 billion to $1.801 billion.

Palantir Technologies Inc. (NASDAQ:PLTR) is a software company that builds digital infrastructure for data-driven operations and decision-making. Its products serve as the connective tissue between an organization’s data, its analytics capabilities, and operational execution.

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