Palantir Technologies Inc. (NASDAQ:PLTR) is one of the High Flying AI Stocks This Week. On August 6, Baird analyst William Power raised the price target on the stock to $170.00 (from $100.00) while maintaining a Neutral rating.
Analysts at Baird noted Palantir’s strong Q2 results which marked the eighth consecutive quarter of accelerating total revenue growth. Revenue growth reached 48% compared to 39% in the first quarter.
The firm highlighted key growth drivers behind the growth.
” U.S. commercial and U.S. Government remain key drivers, growing 93% and 53% YOY. The company also laid out ambitious five- year aspirations for increasing revenue 10-fold while improving efficiency.”
Analysts are cautious on the stock despite of revenue acceleration and AI leadership due to valuation concerns.
“While revenue acceleration and AI leadership could continue to drive shares, we have been wary of valuation.”
Palantir Technologies Inc. (NASDAQ:PLTR) is a leading provider of artificial intelligence systems.
While we acknowledge the potential of PLTR as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
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Disclosure: None.
