Palantir Stock Is Trending Thursday: What's Going On?

Zinger Key PointsWedbush analyst Dan Ives raises the price target on Palantir to a Street-high $160.Ives sees a "golden path" forward for the company, driven by Palantir's AI Platform.Up Next: Get 5 Dark Horse Stocks Wall Street Is Quietly Loading Up OnPalantir Technologies IncPLTRshares are volatile Thursday after rallying more than 6% over the past week. Here’s a look at what’s beendriving the momentum.What To Know:Palantir stock continues to rise on strong AI-related momentum. Palantir has a very high momentum score of 98.99, according to Benzingadata. The company also scores high in Benzinga’s growth rankings.Palantir’s U.S. Commercial revenue grew 71% year-over-year and U.S. Government revenue rose 45% in the first quarter as the company continues to see strong demand for its AI Platform.Palantir’s DevCon 3 event came to a close on Monday. The event featured product launches, build sessions and hands-on workshops related to AI. Palantir posted several highlights from the event on X this week, which continues to drive excitement around the company’s positioning in the AI space.Palantir on Wednesday also announced a new partnership withTomorrow.iofocused on weather intelligence and operational readiness. The collaboration is aimed at enabling end-to-end automated weather decision-making across defense, government, aviation, supply chain and infrastructure.As new deals continue to come in, analysts continue tolift targetson the stock, including Palantir bull Dan Ives, who raised his price target to a Street-high $160 on Thursday.The Wedbush analyst maintained an Outperform rating on Palantir shares, highlighting a “golden path” forward for the company. Ives said in a new note that Palantir will be a “core winner” of the trillions of AI spend expected over the next few years.The analyst also indicated that Palantir is a top name to own given that its AI Platform is quickly becoming a foundational platform for enterprises deploying AI across different verticals.“New and existing customers across the commercial and federal landscapes are waiting in line to sign up for multiple aspects of the PLTR tech stack as the company introduces new valuable use cases to customers with more organizations seeking to drive efficiencies on the back of AI with Palantir leading the charge,” Ives wrote in a note to clients.Ives believes Palantir’s AI Platform can become a $1 billion+ revenue stream for the company’s U.S. commercial business over the coming years. He argued on Thursday that the Street is still underestimating the opportunity ahead.PLTR Price Action:Palantir sharesare up approximately 86% year-to-date, but Wedbush sees more room to run. The stock climbed above $145 early in Thursday’s session before pulling back, and was last down 1.3% at $141.29, according toBenzinga Pro.Loading...Loading...Read Next:Peter Thiel ‘Red-Pilled’ Elon Musk, Mark Zuckerberg And Silicon Valley’s Elite At Critical Turning Points, Says Researcher Tracking Founders Fund’s InfluencePhoto: slyellow/Shutterstock.comPLTRPalantir Technologies Inc$141.24-1.32%Stock Score Locked: Edge Members OnlyBenzinga Rankings give you vital metrics on any stock – anytime.Unlock RankingsEdge RankingsMomentum98.99Growth97.37QualityN/AValue2.67Price TrendShortMediumLongOverviewMarket News and Data brought to you by Benzinga APIs© 2025 Benzinga.com. . .Posted In:NewsMoverswhy it's moving