Palantir: back to zenith, an analyst in support

(CercleFinance.com) - Palantir continues to shine on Wall Street on Monday, closing in on its all-time highs on the stock market in the wake of positive comments from analysts at Wedbush Securities.


The stock, up 352% year-on-year, is currently gaining over 3% to get back above $115, and thus close in on its previous all-time high, set at over $116.

In a study published over the weekend, Dan Ives, Wedbush's star analyst, points out that Palantir is now, along with Salesforce, one of the two most interesting software companies to play the AI theme this year.

In his view, the impressive results and spectacular forecasts unveiled last week by the company he considers to be the "Messi of AI" show that the era of monetization has now begun for software developers.

According to Wedbush, Palantir is "in the front line" to benefit from corporate spending on AI projects, recalling that the sector is set to benefit from a windfall estimated at around 2.000 billion in investments over the next three years.

Palantir's market capitalization now stands at $260 billion, equivalent to 90 times the sales generated last year by the Denver-based group.

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