Palantir Technologies' stock rose to a new high following Piper Sandler's overweight rating and $170 price target. The company's Q1 results showed a 39% revenue growth, primarily driven by robust performance in the U.S. commercial and government sectors, despite a decline in international revenue due to Europe's slow AI adoption. Palantir's heavy reliance on AI and data analytics is set to fuel its projected $24 billion revenue run-rate by 2032, although concerns over high valuation and volatility urge cautious investment strategies focused on buying during dips.
Palantir Technologies closed at $154.86 per share, surging more than 3% higher, hitting $159.56 per share after Piper Sandler's overweight rating and $170 price target.
Piper Sandler praised Palantir's unique growth and margin model, projecting a potential $24 billion revenue run-rate by 2032 through market share gains.
Palantir's first-quarter results showcased a 39% year-over-year revenue increase to $884 million, with U.S. commercial revenue soaring 71% to surpass a $1 billion annual run-rate.
High valuation and volatility pose risks, with analysts recommending buying on dips rather than chasing current highs.
Collection
[
|
...
]