Rosenblatt has issued a buy rating for Palantir Technologies, raising its price target from $225 to $260, which suggests a potential upside of 31% based on Monday's closing price.
Analyst John McPeake noted that ongoing strong growth is expected, particularly due to the increasing adoption of enterprise AI, which could help Palantir acquire new clients while maintaining its impressive net revenue retention rate.
The firm anticipates that Palantir will report nearly 100% earnings growth and over 80% revenue growth in its third-quarter results, scheduled for release on November 2. McPeake also highlighted that Palantir's total addressable market may be significantly larger than previously thought, positioning the company as a critical player in enterprise operations.
This optimistic outlook aligns with broader market sentiment, as 25 out of 34 analysts covering Palantir have rated the stock as a buy or strong buy. Year-to-date, Palantir's shares have increased by nearly 12%