Palantir Expected to Deliver Robust Q1, Led by Growing Demand for AIP, Wedbush Says

MT Newswires Live04-29 23:31

Palantir (PLTR) is expected to deliver a robust Q1, led by the growing use-cases for its artificial intelligence platform as demand accelerates across both government and commercial fronts, Wedbush Securities said Wednesday, adding that PLTR remains on the Ives AI 30 list.

Wedbush believes Palantir has the potential to reach a trillion-dollar market cap in the next few years as the AI Revolution unfolds.

The Street's top-line estimate of $1.54 billion seems beatable, as US commercial revenue is expected to grow beyond the 139% growth seen in Q4, supported by AIP and the Street underestimating Palantir's commercial efforts, the brokerage said.

Wedbush said Palantir's Q1 bottom-line expectation of $870 million to $874 million seems achievable, despite significant investments into the product pipeline, elite technical hiring and AIP.

Palantir has also signed several 9-figure contracts with multiple federal government agencies, pointing to increased adoption of its tech across the government landscape, according to the note.

The company is set to report Q1 results on Monday after the bell.

Wedbush maintained an outperform rating on Palantir with a $230 price target.

Price: 136.81, Change: -4.37, Percent Change: -3.10

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