Following Palantir Technologies, Inc.’s PLTR AIP Conference held last week, an analyst at Wedbush emerged confident in the company’s AI opportunity.
The Palantir Analyst: Daniel Ives maintained an Outperform rating and a $25 price target.
The Palantir Thesis: “In eye-popping up-times with customers that we spoke with at the conference completely & fully integrated between 1-4 weeks of signing papers, an impressive feat that speaks to the PLTR AI vision now playing out,” said Ives.
The analyst lauded the company for continuing to pioneer and guide customers to products, optimize workflows, and produce operational results at industry-leading rates while also incorporating privacy-protective features.
The event gave Wedbush valuable insight into the expansion opportunity into the commercial/
The analyst said the enterprise sector and how many use cases the company can serve. “We were impressed at the range of industries across the board represented at the customer conference ranging financial services, healthcare, transportation, logistics, manufacturing, software and the overall services industry,” he added.
“We came away with one final conclusion from the event: Foundry and AIP are leading the commercial front with an loyal consumer base paving the way for future success stories,” Ives said.
Overall, the analyst said Palantir is on the golden path for its monetization story on the commercial side and is well-positioned to capitalize on the strong commercial spending tailwinds into 2H23/2024.
“With a strong product portfolio coupled with AI, we expect PLTR to garner a meaningful share of what we believe to be a $1 trillion AI Global TAM as enterprise and government ecosystems rush to implement useful platforms for automating complex workflows,” he added.
Palantir Stock: In premarket trading on Tuesday, Palantir stock edged down 0.13% to $15.44, according to Benzinga Pro data.
Image and article originally from www.benzinga.com. Read the original article here.