Dan Ives Says Palantir Is on a ‘Golden Path.' Does That Make PLTR Stock a Buy Here?
In a research note this morning, Ives reiterated his 'Buy' rating on PLTR but raised his price target to $160 – indicating potential upside of another 15% from current levels.
This Underdog AI Stock Just Got a New Street-High Price Target
Texas Just Passed Quantum Computing Legislation. How Should You Play IONQ Stock Here?
'The Most Patriotic Thing You Can Do Is Not Pay the IRS' Says Grant Cardone as OBBBA Signed into Law — Here's How Much You'll Save
Get exclusive insights with the FREE Barchart Brief newsletter. Subscribe now for quick, incisive midday market analysis you won't find anywhere else.
Ives' bullish call on Palantir stock is particularly significant given it's already up more than 100% versus its year-to-date low set in mid-January.
On Thursday, the top ranked analyst recommended that investors rise above valuation concerns as PLTR shares could emerge 'as a core winner in the trillions of AI spend over the next few years.'
According to Dan Ives, the company's artificial intelligence platform (AIP) continues to attract 'unprecedented demand' from both government as well as commercial clients.
Earlier this month, Palantir announced a team up with The Nuclear Company – growing its AI footprint beyond defense and commercial analytics as well.
On the valuation front, Palantir shares do indeed look egregiously overvalued at a forward price-earnings (P/E) multiple of about 382x – well above Nvidia's 40x at the time of writing.
Still, the Wedbush analyst recommended sticking with it as the Nasdaq-listed firm has a 'golden path to become the next Oracle over the coming years.'
In his research note, Ives even called Palantir the 'Messi of AI' – reiterating that it stands to benefit substantially from the artificial intelligence boom.
All in all, he expects the AI stock to climb further as the company's AI solutions continue to 'solve meaningful problems' for clients to boost customer conversions.
Other Wall Street analysts, however, do not share Ives' optimism on Palantir Technologies.
According to Barchart, the consensus rating on PLTR shares currently sits at 'Hold' only, with the mean target of about $105 indicating potential downside of some 23% from current levels.
On the date of publication, Wajeeh Khan did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Barchart.com
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
11 minutes ago
- Yahoo
Why Meta Platforms Stock Is Skyrocketing Today
Key Points Meta Platforms beat second-quarter estimates handily, with EPS surging 38% year over year to $7.14. Meta continues to add to its audience, with daily active users growing 6% year over year. The company will accelerate AI investment into the next year. 10 stocks we like better than Meta Platforms › Shares of Meta Platforms (NASDAQ: META) are flying higher on Thursday, up 12.2% as of 2:53 p.m. ET. Today's jump comes as the S&P 500 was flat and the Nasdaq Composite gained 0.3%. The tech giant reported earnings after markets closed on Wednesday, including a blowout quarter that beat the already high expectations of Wall Street. Meta's ad business is stronger than ever The second-quarter earnings report showed that the company's huge base of daily active users (DAUs) is still growing, up 6% year over year (YOY). This, along with efficiency gains that the company attributed to AI, drove huge growth in earnings and sales. Earnings per share (EPS) jumped 38% YOY to $7.14, well above the analyst consensus estimate of $5.88 for the quarter. Its top-line revenue reached $47.5 billion, a 22% jump YOY, handily beating Wall Street's $44.8 billion target. CEO Mark Zuckerberg explained this success by saying, "The strong performance this quarter is largely thanks to AI unlocking greater efficiency and gains across our ad system." That's a good thing for investors to hear, considering Meta spent $31 billion on AI in the first half of this year alone, and it doesn't plan to stop anytime soon. Chief financial officer Susan Li told investors that Meta expects to ramp up its investments significantly in 2026. Meta looks healthy Meta appears to be firing on all cylinders and reaping the benefits of AI while investing heavily in its future. Its enormous cash flows will allow it to do so more or less indefinitely, or at least until shareholders' appetite wanes. If these sorts of efficiency gains continue, however, I don't see that happening. Even after today's spike, Meta is a buy. Should you invest $1,000 in Meta Platforms right now? Before you buy stock in Meta Platforms, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Meta Platforms wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $638,629!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,098,838!* Now, it's worth noting Stock Advisor's total average return is 1,049% — a market-crushing outperformance compared to 182% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 29, 2025 Johnny Rice has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Meta Platforms. The Motley Fool has a disclosure policy. Why Meta Platforms Stock Is Skyrocketing Today was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
17 minutes ago
- Yahoo
What's More Likely: Rich Eisen Talks Ravens, Colts, Eagles and More
Rich Eisen the Los Angeles Chargers, Detroit Lions, Denver Broncos, San Francisco 49ers, Baltimore Ravens, Indianapolis Colts, Cincinnati Bengals, Philadelphia Eagles, Las Vegas Raiders, Seattle Seahawks, Chicago Bears, Minnesota Vikings, and the big-name NFL contract squabbles.
Yahoo
18 minutes ago
- Yahoo
Beijing officials warm to the idea of a yuan stablecoin, driven by the ‘fear of missing out'
Financial innovation has come full circle. The blockchain is bringing the U.S. back to the era of private money, when banks and companies could issue their own currencies. This time, instead of gold and silver coins, corporate America is eager to issue their own stablecoins. The U.S.'s decision to embrace cryptocurrency through legislation like the GENIUS Act doesn't just matter domestically. Washington's move is placing pressure on countries around the world to signal their own stance on stablecoins and cryptocurrency. In recent months, financial officials and academics within China have spoken up on the need to at least consider authorizing stablecoins, which Zhiguo He, a professor of finance at Stanford University, says is motivated by the 'fear of missing out.' And on Friday, the autonomous Chinese city of Hong Kong—which is betting on cryptocurrencies to bolster its status as a financial center—will start accepting applications for a Hong Kong-dollar backed stablecoin, potentially opening the door for a renminbi-backed token too. With the U.S. going all-in on crypto, Beijing now faces a difficult decision: Does it match the U.S.'s risky bet on a stablecoin-centric future? Or does it play it safe, and risk missing out on cutting-edge financial technology? A crypto-happy U.S. Stablecoins, unlike their more volatile counterparts in the cryptocurrency space, are meant to be a bit boring. These virtual assets are pegged to the value of a reference asset, such as a fiat currency. Almost all stablecoins are pegged to the U.S. dollar, the world's reserve currency. Users can tap stablecoins to easily transfer funds between different cryptocurrencies without needing to resort to real-world money. Users trust stablecoin issuers to have enough liquid reserves to redeem coins for fiat currency at any time. But unlike banks, stablecoin issuers don't have a lender of last resort to fall back on. The 2022 collapse of TerraUSD, a so-called algorithmic stablecoin, spread concerns about other cryptocurrencies, including more well-established tokens. The potential for stablecoins to spark the cryptocurrency version of a financial panic has led governments to be wary of stablecoins. But now U.S. president Donald Trump, in his second term, wants to make the U.S. the 'crypto capital of the planet.' 'Trump has done a 180 for the United States and just said, 'deregulate, deregulate, deregulate,'' says Harvard professor and former IMF chief economist Kenneth Rogoff. The U.S. Congress passed the GENIUS Act on July 17th, establishing the first regulatory framework for dollar-pegged stablecoins. The Act requires issuers to maintain reserves, such as in cash or U.S. Treasury bills, to back their stablecoins on at least a 1:1 basis. China considers crypto The U.S.'s sudden crypto-happy stance could worry other nations. Dollar-backed stablecoins will be appealing in 'really poor countries where people don't trust the currency and central bank,' says Paul Blustein, journalist and author of King Dollar: The Past and Future of the World's Dominant Currency. But even countries with strong local currencies could face a future where 'citizens prefer to transact with this type of instrument.' The People's Bank of China (PBOC) is now in a frustrating position. China has banned all cryptocurrency transactions since 2021, citing the risks they could post to the country's financial system. But China doesn't want to find itself behind the curve—or behind the U.S.—if stablecoins and blockchain technology really are the future of finance. Wang Yongli, former vice president of Bank of China, wrote to WeChat in June that it 'would be a strategic risk if cross-border yuan payment is not as efficient as dollar stablecoins.' Yongli recommended a 'proactive response from other countries, particularly China' to U.S. legislation, according to the Pekinology newsletter. PBOC governor Pan Gongsheng similarly noted the rising use of stablecoins for cross-border payments at the 2025 Lujiazui Forum in Shanghai on June 18. Days later, the Securities Times, a newspaper owned by state media outlet People's Daily, wrote that industry insiders 'generally believe that, as an emerging payment tool, the unique advantages and potential risks of stablecoins cannot be ignored, and that the development of [renminbi-pegged] stablecoins should be sooner rather than later.' The South China Morning Post reported on July 14 that China was exploring the feasibility of allowing the launch of stablecoins. Two local officials told the newspaper that state-owned entities including the securities firm Guotai Haitong and data infrastructure firm Shanghai Data Group were looking into a trial run of renminbi-pegged tokens. 'It's not the fact that the U.S. is going into crypto, per se, that matters,' Evan Auyang, group president of Hong Kong-based blockchain technology company Animoca Brands, says. 'It's really what started as a result of this change…Stablecoins became institutional' after gaining legitimacy from the U.S. (Animoca Brands, as part of a consortium with Standard Chartered and HKT, intends to apply for a license to issue stablecoins in Hong Kong.) De-dollarization There's a geopolitical element to the stablecoin conversation. If adoption of U.S. dollar stablecoins grows, issuers will need to hold more dollars and dollar-based assets to back the peg. Tether, which issues the world's largest stablecoin, was already the world's seventh largest purchaser of U.S. debt in 2024. After chipping away at the dollar's global dominance for decades, China does not want to give the U.S. an opportunity to regain ground. 'They're very concerned about the U.S. exercising power, expanding the use of the dollar,' says Rogoff. China has tried to promote greater use of the renminbi for cross-border trade, with limited success. Trade with isolated countries like Russia and Iran may be conducted in the renminbi, but most countries in the world still prefer using the U.S. dollar. The popularity of dollar stablecoins could 'smother' Beijing's efforts to develop its own financial networks, Rogoff says. Trump's trade war has spurred talks of 'de-dollarization,' or reducing reliance on the U.S. dollar, due to concerns about the future of the U.S. economy and fears of dollar weaponization. Even Trump himself is worried about challengers to the dollar, threatening massive tariffs against the BRICS bloc if it considered creating an alternative currency. U.S. Treasury Secretary Scott Bessent has said that stablecoins can help keep the U.S. dollar as the dominant reserve currency. Some Chinese officials agree with Bessent: former vice minister of finance Zhu Guangyao argued in June that 'the strategic purpose behind the United States' promotion of stablecoins—closely tied to U.S. dollar liquidity—is to preserve dollar supremacy,' as translated by the East is Read newsletter, Can China launch a stablecoin? But even if Beijing is open to launching a stablecoin, it must overcome another hurdle: its closed capital account, which means officials can't authorize a Chinese yuan renminbi (CNY)-pegged stablecoin. There are 'still a lot of concerns over capital flight issues' that make the liberalization of China's capital account unlikely, Auyang says. China could authorize a stablecoin pegged to the offshore renminbi (CNH). And since over 70% of offshore renminbi payments are processed in Hong Kong, Huang Yiping, an advisor for the PBOC, suggested using the city as a testing ground for China's stablecoin launch. Chinese tech giant reportedly proposed a similar scheme in its discussions with the PBOC. Hong Kong's Stablecoin Ordinance, due to go into effect on August 1st, already establishes a legal framework for leveraging the city's offshore renminbi pool, if the PBOC chooses to go in that direction and provide sufficient liquidity for offshore renminbi-pegged stablecoin issuers. Although the law requires issuers to hold reserves in their stablecoin's reference currency, since the Hong Kong dollar itself is pegged to the U.S. dollar, HKD-pegged stablecoin issuers can hold U.S. dollar reserves. 'Hong Kong is pegging to the USD. So, in some sense, they are basically helping the U.S.,' He, from Stanford, explained. 'This is perhaps why Beijing [could say], when you do the HKD [stablecoin], I want you to do the CNH as well.' 'Rein in the euphoria' Currency experts are worried about how stablecoins could end up posing a threat to the economy—whether in the U.S. or in China. Blustein points to the risk of 'currency substitution.' If the appeal of stablecoins outweighs the appeal of the local currency, it 'screws up the central bank's ability to control the economy,' he argues, as everyone is engaging in transactions in an instrument outside the bank's control. And without a central bank or lender of last resort, stablecoins are vulnerable to runs—users rushing to redeem their tokens for fiat currency all at once. The possibility of a stablecoin crisis is 'very parallel to the U.S.'s free banking era in the 1800s,' says Rogoff. 'The risk of a financial crisis is high,' he says. Blustein, for his part, is less worried about stablecoins messing things up—in part because they make up 'a tiny part of international payments.' 'Stablecoins cannot possibly buy that many short-term treasuries' to compete with central banks and multinational companies, he suggests. Another person expressing some skepticism about stablecoins? Eddie Yue, the head of the Hong Kong Monetary Authority and the city's de facto central banker. In a press conference last week, Yue told the public to 'rein in the euphoria' over stablecoins, pointing to 'overly idealistic' discussions on how they might 'disrupt the mainstream financial system.' Clarification, July 31, 2025: This article has been updated to clarify that Animoca Brands is applying for a Hong Kong dollar-backed stablecoin as part of a consortium. This story was originally featured on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
