Palantir Technologies with more growth potential than Palantir

11.01.2024

Palantir Technologies (NYSE: PLTR) is a recognized leader among artificial intelligence (AI) and machine learning platform providers, and the company is committed to expanding its functionality. Palantir recently redesigned its go-to-market strategy to drive adoption of its Artificial Intelligence Platform (AIP), a new product that brings generative AI support to existing data analytics platforms.

Executives see AIP as a huge opportunity, as does Wedbush Securities analyst Dan Ives. In fact, Ives called Palantir “the gold standard in AI,” explaining that the company’s ability to monetize AI in both government and enterprise makes it “the best pure-play option” in the field. And the market is equally optimistic. Palantir’s stock is up about 150% over the past year.

However, Wall Street remains skeptical of Palantir. The stock has a consensus rating of “sell” among analysts, and its median 12-month price target of $14.50 per share implies a 10 percent drop from the current price. By comparison, Wall Street is quite optimistic about a lesser-known AI stock: HubSpot (NYSE: HUBS).

Wall Street currently has a 12-month average price target on shares of HubSpot at $600 per share, implying a 12% upside from the current price. The stock also has a consensus rating of “buy.” In fact, no analysts recommend selling HubSpot stock at this time.