AAL

Analyst: Palantir Stock "Poised to Be a Major AI Player"

The majority of analysts are currently bearish on the stock

Deputy Editor
Jul 31, 2023 at 9:43 AM
facebook X logo linkedin


The shares of Palantir Technologies Inc (NYSE:PLTR) are gaining traction this morning, following an ambitious bull note. The software stock was last seen 6.9% higher at $19.04, after Wedbush initiated coverage with an "outperform" rating and a $25 price target. The analyst in coverage noted "Palantir has built an AI fortress that is unmatched and poised to be a major player in this AI Revolution over the next decade."

Should these early gains hold, it will help PLTR move closer to a 200% year-to-date lead. The equity is fresh off its 11th winning week in the last 12, and earlier this morning nabbed a new two-year high of $19.20.

There's ample room for other members of the brokerage bunch to follow Wedbush's lead. Coming into today, just two of 12 covering analysts rated PLTR a "buy" or better. In addition, the current 12-month consensus target price of $11.61 is a 39.1% discount to Friday's close.

There's modest short squeeze potential too, with short interest off by 6.2% in the most recent reporting period, yet the 124.36 million shares sold short still accounting for a healthy 7% of PLTR's total available float. 

 

Two High-Octane Trade Ideas. One Simple Goal: Intraday Profits.

Dynamite Day Trading Signals delivers two same-day options trades every week — powered by proprietary intraday analysis and 43+ years of trading expertise.

But this isn’t just another stream of alerts.

It’s a structured plan with clear entry and exit points – designed for traders who want to act fast, trade smart, and wrap up gains before the closing bell.

No guesswork. No overnight exposure – Just two well-researched setups per week — whether you prefer buying premium or selling it.

And the results speak for themselves: subscribers have locked in +245.8% total profit over the last six months (since inception!).

👉 Start your one-month trial now for just $10, and be ready for the next trade alert.