Wedbush Securities issued an optimistic review after attending a highly praised customer event hosted by Palantir Technologies Inc. (PLTR.US). Additionally, Palantir announced a partnership with Western sports and entertainment company Teton Ridge.
Led by analyst Dan Ives, Wedbush noted in its research report: "When engaging with potential clients, most mentioned discovering Palantir’s technology and value through word-of-mouth referrals (due to other partners fully committing to its platform). However, many were still astonished after seeing live demonstrations of real-world applications—reinforcing our confidence that the full value of Karp and his team remains underappreciated. We observe that new multi-year contracts and existing clients expanding spending across products are nearing a 50-50 split, with many customers fully embracing Palantir’s platform solutions."
Palantir showcased over 30 use cases spanning various industries, emphasizing its AIP platform and other technologies. Analysts added that the recently launched "Chain Reaction" platform—developed in collaboration with CenterPoint Energy and Nvidia—should accelerate AI infrastructure adoption.
They explained: "As Palantir takes strategic steps to maintain its AI leadership and expand globally, we believe PLTR is on a golden path toward a trillion-dollar valuation in the coming years. Its valuation will gradually align as the Karp team remains a key player in the AI revolution." Wedbush maintains an "Outperform" rating with a $230 price target.
Separately, Palantir and multinational holding company TWG AI announced a partnership on Friday. Under the agreement, Palantir will collaborate with Nvidia to bring real-time AI and computer vision technology to TWG’s Teton Ridge rodeo events.
At the time of writing, Palantir’s pre-market shares edged up 0.25%.
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