Should You Buy Palantir Stock After Its 2,100% Gain Since 2023? This Wall Street Analyst Has a Shocking Answer.
Palantir Technologies (NASDAQ: PLTR) hit its stride when demand for artificial intelligence (AI) exploded after the launch of ChatGPT. The stock has soared 2,100% since January 2023, the best performance in the S&P 500 (SNPINDEX: ^GSPC) during that period by a wide margin.Today, most Wall Street analysts see the stock as overvalued. The median target price is $110 per share, which implies 23% downside from its current share price of $143. But Dan Ives at Wedbush Securities has consistently gone against the grain and been proved right time and time again:Ives last month raised his target price to $140 per share. That implies a little downside in the near term, but he still sees Palantir as one of the best AI stocks investors can own despite the elevated valuation. In fact, he thinks Palantir will be a trillion-dollar company within three years. That forecast implies 199% upside from its current market value of $335 billion.Continue reading
Palantir Technologies (NASDAQ: PLTR) hit its stride when demand for artificial intelligence (AI) exploded after the launch of ChatGPT. The stock has soared 2,100% since January 2023, the best performance in the S&P 500 (SNPINDEX: ^GSPC) during that period by a wide margin.
Today, most Wall Street analysts see the stock as overvalued. The median target price is $110 per share, which implies 23% downside from its current share price of $143. But Dan Ives at Wedbush Securities has consistently gone against the grain and been proved right time and time again:
Ives last month raised his target price to $140 per share. That implies a little downside in the near term, but he still sees Palantir as one of the best AI stocks investors can own despite the elevated valuation. In fact, he thinks Palantir will be a trillion-dollar company within three years. That forecast implies 199% upside from its current market value of $335 billion.
