Palantir (PLTR) Target Raised to $140 on Strong AI Momentum
Palantir Technologies (PLTR, Financials) received a fresh vote of confidence from veteran portfolio manager Chris Versace, who raised his price target on the data analytics company to $140 per share as demand for artificial intelligence tools continues to expand across industries.
Palantir has surged 63% year to date after climbing 340% in 2024, fueled by growing adoption of its AI platform, enterprise Foundry suite, and defense-focused Gotham product. The company reported first-quarter revenue of $884 million, up 39% from a year earlier, with net income of $214 million and adjusted earnings per share of 13 cents.
CEO Alex Karp said in the Q1 release that U.S. commercial revenue rose 71% year over year, surpassing a $1 billion annual run rate. He described the company as "the operating system for the modern enterprise in the era of AI.
Versace cited Palantir's expansion into new verticals, including a recent deal with Bolt Financial to deliver agentic AI-powered retail checkout experiences, as evidence of growing private-sector traction alongside its longstanding government contracts.
He said the increasing diversity of use casesfrom banking and biotech to logistics and national securityshould allow Palantir to continue cross-selling and scaling its platform.
Full-year guidance calls for 36% top-line growth and 68% growth in U.S. commercial revenue. Versace said the commercial tailwinds support his upgraded $140 target.
This article first appeared on GuruFocus.
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