In an insightful discussion on CNBC’s “Closing Bell Overtime,” Dan Ives from Wedbush and Alex Fishman, founder of Empros Capital and a former Palantir employee, delved into the recent performance of Palantir Technologies (PLTR) and its prospects moving forward. Despite an intraday dip of over 3.5% to $79.12, Palantir remains the S&P 500’s standout performer, with a staggering year-to-date gain of more than 360%.
Fishman, leveraging his deep understanding of Palantir, expressed an optimistic view for the company’s future. He highlighted that Palantir could grow significantly, suggesting that its current offerings might become standard in many global enterprises. His confidence stems from his firsthand experience with the company and its leadership, notably CEO Alex Karp.
Ives, known for his bullish outlook, shared a more nuanced perspective. While his base price target for Palantir stands at $75, below the current trading price, he outlined a bull case scenario where the stock could climb to $100. He emphasized Palantir’s potential to become the next Oracle (ORCL) over the next decade, driven by the ongoing AI revolution. Ives likened Palantir’s trajectory to a journey from adolescence to maturity, suggesting that as the company executes on its plans, its stock could justify even higher valuations, positioning it as a ‘table pounder’ for investors.
The conversation also touched on Palantir’s expansion into the commercial sector, which has been a significant catalyst for its recent growth. Fishman pointed out the strategic importance of Palantir in a consortium with companies like SpaceX, OpenAI, and Anduril for defense applications. Here, Palantir serves as a crucial integrator, coordinating various high-tech solutions to enhance national security capabilities, with each partner contributing unique technological strengths.
Looking ahead to 2025, particularly regarding the IPO market, Fishman noted that the best tech companies, including those in AI, are not in a rush to go public. Instead, they might opt for direct listings or wait until they can dictate terms favorable to them, given their profitability and market position. This approach could redefine how tech IPOs are conducted, focusing on companies that are already mature and financially robust.
The discussion underscored both the current success and future potential of Palantir, with both experts agreeing on the transformative role the company is poised to play in both commercial and defense sectors, fueled by advancements in AI and strategic partnerships.
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