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Investing.com-- Wedbush Securities raised its price target on Palantir Technologies (NASDAQ:PLTR), citing strong momentum in the company’s commercial artificial intelligence (AI) business and growing strategic partnerships.
Wedbush analysts raised their target to $230 from $200, maintaining an “Outperform” rating on the stock.
Analysts said they expect Palantir’s upcoming earnings to mark “another major step” in its transformation into an AI powerhouse, forecasting that the company could reach a trillion-dollar market capitalization within two to three years.
Wedbush expects third-quarter revenue of $1.09 billion, which it described as “very beatable,” as Palantir’s Artificial Intelligence Platform (AIP) continues to drive new customer wins and larger deal sizes across both government and enterprise clients.
The note highlighted recent collaborations with Snowflake, integrating its AI Data Cloud with Palantir Foundry and AIP, and a potentially “game-changing” partnership with Nvidia (NASDAQ:NVDA) to combine its Blackwell architecture with Palantir’s operational AI stack.
Wedbush also pointed to rising U.S. government AI investments under the Trump administration’s “Project Stargate” initiative as a tailwind for Palantir’s federal business.
Palantir is at the center of the next stage of the AI revolution, analysts wrote, adding that commercial revenue in the U.S. could grow more than 85% in fiscal 2025.