Dan Ives Calls Palantir The ‘Missing Piece’ In AI Puzzle, Expects ‘Good News’ From Alex Karp’s Company On Monday

Prominent Wall Street analyst Dan Ives has highlighted Palantir Technologies Inc. PLTR as “the missing piece in the AI puzzle” just a day before the company’s highly anticipated earnings report on Monday.

What Happened: “Karp & Co. are a major barometer for the pace of U.S. commercial AI projects and initiatives and we expect good news from the Messi of AI on Monday,” the Wedbush Securities analyst wrote on social media platform X on Sunday, referring to Palantir CEO Alex Karp. Ives said Palantir remains “one of our top tech names to own.”

The endorsement comes as Palantir shares trade near all-time highs, surging 392% in the past year. During Friday’s session, the stock climbed 6.95% to $124.28 amid building investor enthusiasm.

Palantir has secured several high-profile defense contracts recently, including delivering two battlefield TITAN systems to the U.S. Army and announcing a new partnership with NATO Allied Command Operations to provide AI-powered military technology. The company’s Maven Smart System aims to enhance battlefield decision-making through advanced artificial intelligence.

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Why It Matters: In the fourth quarter of 2024, Palantir posted $827.52 million in revenue and 14 cents in adjusted earnings per share, beating analyst estimates. U.S. revenue grew 52% year-over-year, and the company closed 129 deals worth over $1 million.

For the first quarter of 2025, analysts expect earnings of 13 cents per share on revenue of $862.83 million. The company has projected full-year 2025 revenue of up to $3.76 billion.

While Ives remains bullish, not all analysts share his optimism. RBC Capital maintains an Underperform rating with a $40 price target, highlighting the divided sentiment on Wall Street regarding Palantir’s valuation.

Karp recently defended the company’s role in defense technology, saying at the Hill & Valley Forum that “the obvious solution to war is to have the West have the strongest, most precise, deadly weapons possible… so that we can minimize unnecessary innocent deaths.”

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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.