Palantir (PLTR) stock jumped more than 2% on Thursday after D.A. Davidson ****** yst Gil Luria upgraded it to a Buy rating from Neutral and raised his price target on the stock to $175.
Shares extended gains from the previous session, when it jumped 7% after the company unveiled a new AI partnership with Nvidia (NVDA) focused on government and other security-sensitive customers.
"Palantir has grown into its valuation as profits have soared, and the multiple has come in, providing investors with a gift just in time for the United States of America's 250th birthday," Luria wrote on Thursday morning.
"We believe Palantir's valuation is the most attractive it has been in a while, especially in relation to other high-growth software companies," he added.
Luria noted that while Palantir now trades in line with other AI-focused software companies such as Snowflake (SNOW), Shopify (SHOP), Datadog (DDOG), and CrowdStrike (CRWD), "it is growing twice as fast as any of them."
Shares extended gains from the previous session, when it jumped 7% after the company unveiled a new AI partnership with Nvidia (NVDA) focused on government and other security-sensitive customers.
"Palantir has grown into its valuation as profits have soared, and the multiple has come in, providing investors with a gift just in time for the United States of America's 250th birthday," Luria wrote on Thursday morning.
"We believe Palantir's valuation is the most attractive it has been in a while, especially in relation to other high-growth software companies," he added.
Luria noted that while Palantir now trades in line with other AI-focused software companies such as Snowflake (SNOW), Shopify (SHOP), Datadog (DDOG), and CrowdStrike (CRWD), "it is growing twice as fast as any of them."
28 days ago
