Dan Ives Raises Palantir Price Target, Sees 24% Upside On 'Hyper Growth Demand' — Stock Jumps Nearly 6% In Tuesday Pre-Market

Wedbush analyst Dan Ives raised his price target on Palantir Technologies Inc. (NYSE:PLTR) to $200, citing “hyper growth demand” and “off the charts” commercial expansion.

Ives, in a post on X, described Palantir as a key player in the "use case era of the AI Revolution," highlighting its unique value proposition in the enterprise AI space.

At the current stock price of $160.66, the stock is expected to rise 24.49%, as per Ives.

The company's commercial revenue rose 35% year-over-year, indicating a widening shift from government contracts toward enterprise adoption of its Foundry and AIP platforms.

Karp Tells Retail Investors: Ignore the ‘Suffering’ Haters

Palantir Technologies reported robust second-quarter earnings, fueled by growing commercial demand for its artificial intelligence platform. The company’s Q2 results bolster its position as a leading AI-driven enterprise software firm. Its expanding customer base and deepening commercial integrations signal growing utility in sectors ranging from defense to finance.

CEO Alex Karp credited the company's rise to long-term support from retail investors. In a post-earnings interview, Karp urged retail shareholders to ignore skeptics, saying, "Stop talking to the haters. They're suffering."

During the Tuesday pre-market trading session, PLTR stock climbed 5.94%, according to data from Benzinga Pro.

Palantir Rises On AI hopes, But Valuation Fears Linger

The company’s performance reflects broader investor enthusiasm for companies with real-world AI applications. However, some caution remains. PLTR trades at approximately 80 times revenue, raising concerns about overvaluation. Analysts warn that August could trigger a "mean reversion" if momentum cools or macro headwinds emerge.

The company's forward-looking strategy, emphasizing platform scalability and operational AI use cases, has positioned it favorably in an increasingly competitive market. As institutional and retail interest converges, Palantir’s trajectory could hinge on whether it can sustain growth expectations amid rising scrutiny over tech valuations.

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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.