Can Palantir Stock Soar 245% to Be a Trillion-Dollar Company? This Wall Street Analyst Has a Surprising Answer.
Palantir Technologies (NASDAQ: PLTR) has been one of the biggest winners of the artificial intelligence (AI) boom. It led the S&P 500 (SNPINDEX: ^GSPC) last year with a 340% gain, and it is currently the second-best performing stock in the index this year, with a 66% gain.Palantir is particularly popular with retail investors, many of whom admire CEO Alex Karp for his forthright communication and unapologetic viewpoints. But after tenfold returns in the last two years, valuation has become a serious concern for shareholders.Nevertheless, Dan Ives at Wedbush thinks Palantir will be a $1 trillion company in another two or three years, implying 245% upside from its current market value of $290 billion. It also implies a minimum return of 51% annually over the next three years.Continue reading
Palantir Technologies (NASDAQ: PLTR) has been one of the biggest winners of the artificial intelligence (AI) boom. It led the S&P 500 (SNPINDEX: ^GSPC) last year with a 340% gain, and it is currently the second-best performing stock in the index this year, with a 66% gain.
Palantir is particularly popular with retail investors, many of whom admire CEO Alex Karp for his forthright communication and unapologetic viewpoints. But after tenfold returns in the last two years, valuation has become a serious concern for shareholders.
Nevertheless, Dan Ives at Wedbush thinks Palantir will be a $1 trillion company in another two or three years, implying 245% upside from its current market value of $290 billion. It also implies a minimum return of 51% annually over the next three years.
