PLTR
The sell-off has a fan club — and Wedbush isn’t in it
Palantir is having one of those weeks where the stock market feels like a group chat with too many opinions. Shares jumped more than 11% on the week, and Wedbush’s Dan Ives stepped in to say the fear around the recent pullback is, in his words, “over blown.”
That matters because this isn’t just some random shoulder shrug. Wedbush kept its Outperform rating and slapped on a $230 price target, which implies roughly 61% upside from recent levels. In other words: the firm is still in the “AI darling, long runway” camp, not the “maybe this thing got ahead of itself” aisle.
Why investors are paying attention
The bullish call lands at the same time a few other forces are helping the stock catch a bid:
- Broad market optimism is rising as geopolitical tension eases in parts of the Middle East
- Trump publicly praised Palantir’s “war-fighting capabilities” last week, which gave the stock an extra visibility bump
- Wedbush highlighted that U.S. commercial revenue jumped 137% year over year last quarter
That kind of growth is the whole Palantir thesis in one number: if the company keeps converting AI hype into actual contracts, the valuation debate gets a lot less academic and a lot more expensive for the skeptics.
The catch: the chart still has some baggage
Even with the recent bounce, Palantir isn’t exactly skating downhill on easy mode. The stock is still sitting below its 100-day moving average, and that February death cross is hanging around like an awkward ex at brunch.
So yes, the analysts are saying the sell-off is overdone. But the market is still asking the usual question: is Palantir a real growth machine, or just a very loud one?
Big picture: Wedbush didn’t change the Palantir story — it just reminded everyone that the AI software bull case is still alive and kicking.