Palantir’s (PLTR) AI Momentum Is Exploding — And Wall Street Is Taking Notice

Palantir Technologies Inc. (NASDAQ:PLTR) is one of the AI Stocks Gaining Attention on Wall StreetOn August 5, Piper Sandler analyst Brent Bracelin raised the price target on the stock to $182.00 (from $170.00) while maintaining an “Overweight” rating.

The rating affirmation follows Palantir’s earnings beat and full-year guidance hike due to the artificial intelligence boom. The firm stated how robust Q2 demand and US commercial have been backing the immediate-term bull case scenario on the stock.

“Robust Q2 demand across both government and U.S. commercial were supportive of the intermediate-term bull-case scenario on PLTR (30-35%+ CAGR), punctuated by the biggest absolute dollar beat ever ($68M above mid-point guide) with top-line growth accelerating for the 8th straight quarter to 48% (vs. 39% prior).”

Palantir’s (PLTR) AI Momentum Is Exploding — And Wall Street Is Taking Notice

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It also highlighted the 10-year $10B Army Deal which builds up the case for further government share gains.

“The 10-year $10B Army Deal strengthens the case for further government share gains within the large $1T+ Defense TAM while 93% y/y growth (vs. 71% prior) in U.S. commercial reinforces an untapped AI platform opportunity for large enterprise customers.”

Even though Palantir carries a rich valuation premium and remains a high-risk investment, the firm believes that its one-of-a-kind growth plus margin model places it into a unique category of one that warrants a premium.

Palantir Technologies Inc. (NASDAQ:PLTR) is a leading provider of artificial intelligence systems.

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.

READ NEXT: 10 AI Stocks Gaining Attention on Wall Street and 10 Trending AI Stocks on Wall Street.

Disclosure: None.