PLTR
The hype train is still boarding
Wedbush analyst Dan Ives is basically telling investors to keep both feet on the Palantir bandwagon. In a fresh note, he kept his Outperform rating and $230 price target, arguing the company still has a “golden path” to becoming a trillion-dollar AI giant.
Why he’s still bullish
The thesis is pretty straightforward: Palantir’s AI platform, AIP, is spreading across government and commercial customers like a software version of word-of-mouth gone feral. Ives thinks demand is still accelerating, with U.S. commercial revenue potentially growing even faster than the eye-popping 139% rate Palantir posted last quarter.
He also pointed to the company’s government business, where Palantir is increasingly being treated like must-have infrastructure rather than a nice-to-have vendor. Translation: this isn’t just a flashy AI story anymore — it’s becoming a recurring-revenue machine with defense-tech swagger.
But the bar is basically in the stratosphere
Palantir is expected to report first-quarter revenue of about $1.54 billion after the market closes on Monday, May 4, and the stock was still down 3.02% at $136.91 when this note hit. That’s the kind of setup where investors are paying Lamborghini prices for a car that better accelerate like one.
And that’s the catch. With a market cap north of $342 billion, Palantir doesn’t get much grace if growth, margins, or guidance come in even a little soft.
Big picture: Wedbush is telling the market Palantir’s AI story is still intact. The next test is whether the company can turn that story into numbers juicy enough to justify the valuation.