This is not investment advice. The author has no position in any of the stocks mentioned. Wccftech.com has a disclosure and ethics policy.
Wedbush analyst Dan Ives has been consistently bullish on Palantir, even through what has been nothing short of a brutal selloff. Today, the analyst is out with another bullish note on Palantir's prospects.
For the benefit of those who might not be aware, Palantir is an AI-powered Software-as-a-Service (SaaS) provider that allows companies and government agencies to gather and analyze reams of data, enabling the detection of hidden patterns within complex datasets. In what is its characteristic feature, the company's software-based offerings summarize and present the analyzed data in a manner that is quite easy to understand.
Palantir shares were recently left with visible bruises after the US Defense Secretary, Pete Hegseth, ordered Pentagon officials to develop a new budget that would cut defense spending by 8 percent annually. Given Palantir's outsized reliance on government contracts, this spending retrenchment emerged as a negative catalyst for the stock.
Coming back, Dan Ives has now reiterated an 'Outperform' rating and a $120 stock price target for Palantir shares.
While asserting that Palantir's "AIP product moat" remains unmatched, Ives declares that the company "is helping lead the AI Revolution into the use case phase."
Accordingly, Ives views the ongoing weakness in the stock as a buying opportunity:
"Palantir remains one of our top names to own in 2025 and we believe this recent sell-off represents another opportunity with PLTR generating unprecedented traction across both federal and commercial for its entire portfolio."
In what is crème de la crème of Ives' note on the volatile stock, the analyst declares:
"We believe Palantir could be a trillion market cap over the coming years and shaping up to be the next Oracle or Salesforce as the AI Revolution plays out and PLTR will further grow into its valuation."
As of the time of writing, Palantir shares are up 3 percent in today's pre-market trading session. Do note that the stock is still trading at a ~30 percent discount to Wedbush's target of around $120 per share.
About the author: Writing is my one incontrovertible passion. Over the past six years, he has authored over 2,200 distinct articles on financial and tech-related topics, spanning nearly 1 million words. And he has been a member of Wcctech mobile team since 2025. As an alumnus of the University of Toronto, Rotman Commerce Program, I bring nuance, in-depth knowledge, and a unique perspective to every topic that I cover. When I'm not writing, I'm traveling the world, exploring hidden confectionaries and restaurants as an aspiring food connoisseur.
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