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Palantir Technologies Inc. (NASDAQ:PLTR) is one of the Best American AI Stocks to Buy Now. On May 7, Citi increased its price target on the stock to $225 from $210 and maintained a Buy rating, according to a report by TheFly.
Citi made the upward price target adjustment following the company’s first-quarter earnings report. It emphasized that AI demand is accelerating the company’s U.S. business.
Meanwhile, Rosenblatt also maintained its Buy rating on Palantir, increasing its price target to $225 from $200. Similarly, Bank of America Securities also reiterated a Buy rating on Palantir, setting a $255.00 price target. According to 32 analyst ratings compiled by CNN, Palantir has an average price target of $200, a 47.16% increase from the current price of $135.91.
On Monday, Palantir reported an 85% jump in total revenue for the first quarter to $1.633 billion, with U.S. revenue surging 104% to $1.282 billion. U.S. government revenue accounted for the bulk of the U.S. revenue at $687 million, an 84% rise from the same period last year. Similarly, U.S. commercial revenue also posted a 133% gain at $595 million.
As a result of the first quarter figures, the company is raising its revenue guidance for this year, projecting it to reach between $7.650 billion and $7.662 billion. For the second quarter of the year, Palantir expects revenue to range from $1.797 billion to $1.801 billion.
Palantir Technologies Inc. (NASDAQ:PLTR) is a software company that builds digital infrastructure for data-driven operations and decision-making. Its products serve as the connective tissue between an organization’s data, its analytics capabilities, and operational execution.
While we acknowledge the potential of PLTR as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
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