TLDR:
- Palantir (PLTR) stock down 4.48% to $75.44 despite bullish Wedbush target of $90
- Dan Ives compares Palantir to Oracle, suggesting 185% upside potential
- Q3 revenue grew 30% to $726M with non-GAAP EPS of $0.10
- Forrester ranked Palantir’s AIP as top AI platform in market
- Stock trades at 225x earnings with divided analyst opinions on valuation
Palantir Technologies (NYSE: PLTR) shares declined 4.48% to $75.44 on Monday even as Wedbush analyst Dan Ives painted an optimistic future for the data analytics company.
Trading volume reached 378,384 shares compared to an average daily volume of 81.5 million, with the stock moving between $72.67 and $76.72 during the session.
Ives, who ranks among the top 15% of Wall Street analysts, raised his 12-month price target to $90, suggesting 14% upside from current levels. The analyst drew parallels between Palantir and Oracle, projecting potential growth to a $515 billion valuation from its current $172 billion market cap.

The bullish outlook stems from Palantir’s artificial intelligence platform (AIP), which Forrester Research recently ranked as the market leader, surpassing offerings from tech giants Google Cloud, Amazon Web Services, and Microsoft Azure.
Third-quarter results supported the optimistic view, with revenue climbing 30% to $726 million, marking the fifth consecutive quarter of accelerating growth. Non-GAAP net income reached $0.10 per diluted share, up 43% year-over-year.
Recent contract wins have bolstered Palantir’s position in the government sector. The company secured FedRAMP High Authorization across its product portfolio in December, followed by a $619 million U.S. Army contract and a $37 million deal with U.S. Special Operations Command.
CFO Dave Glazer attributed the strong performance to AIP adoption, noting “unprecedented demand” in the U.S. commercial business during the third-quarter earnings call.
However, Wall Street remains divided on Palantir’s prospects. The median price target among 23 analysts stands at $39, implying 51% downside from current levels.
Valuation concerns drive the bearish outlook, with the stock trading at 225 times adjusted earnings. Current projections show earnings growth of 29% annually through 2025.
The company’s gross margin stands at 81.10%, reflecting the high-margin nature of its software business. Palantir does not currently pay a dividend.
The stock has shown volatility over the past year, trading between $16.03 and $84.80. After gaining 340% in 2024, making it the S&P 500’s top performer, the stock has faced selling pressure in recent sessions.
Palantir’s core products, Gotham and Foundry, serve as operating systems that integrate data into ontology frameworks for improved organizational decision-making. The addition of AIP in 2023 brought natural language processing capabilities to these platforms.
The company raised its full-year 2024 revenue growth guidance to 26%, reflecting confidence in continued commercial and government sector expansion.
Market activity shows the stock maintaining support above the $72 level despite recent declines, with technical indicators suggesting consolidation after the strong 2024 rally.
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