Wedbush Maintains Palantir at Outperform, $230.00 Price Target

Wedbush maintained its Outperform rating and $230.00 price target on Palantir following AIPCon 10.

Palantir hosted its 10th AIPCon this week, and we were in attendance speaking with many customers and partners during the day from a broad range of mission-critical industries as AIP is increasingly becoming an essential part of driving efficiencies at scale.

The common denominator for value was the expertise that FDEs provide as they sit alongside customers in the field and build the product in real-time as the customer explains their pain points, seeing changes happen immediately.

Palantir’s ability to aggregate and standardize decades of customer know-how into actionable data, making it easily digestible for customers, is positioning the company as an irreplaceable partner.

Ultimately, customers feel more comfortable directly working with another human in buildouts versus an AI, and Palantir’s human-powered, AI-backed approach is a key differentiator that is winning over new business while supporting stickiness.

We maintain our OUTPERFORM rating and $230 price target.

The Platform Difference; AI for Infinite Labor. Palantir is synthesizing vast amounts of data across entire organizations systematically and can be used to draw conclusions in minutes in what would otherwise take professionals days or weeks to produce.

With the ontology, which is the semantic layer on top of data that represents the nouns and verbs of the business, AIP is able to contextualize at machine speed and grow with the business at scale.

Every incremental decision builds on the prior one, offering compounding value while further entrenching itself in workflows.

The platform empowers humans by putting all the information in front of them, not removing humans out of the equation.

Expanding and Deepening Partnership Network. PLTR announced partnerships spanning cloud, insurance, construction, and more, with data management and activation at the center of each deal.

Palantir announced a multi-tiered partnership with Google Cloud, making Palantir available on Google Cloud Marketplace and enabling two-way data federation between Gemini and Foundry, two-way semantic exchange between Google’s Knowledge Catalog and Foundry’s Ontology, and deeper connectivity between Gemini and AIP, so customers can plug best-in-class models directly into their most critical workflows.

PLTR also announced an enterprise expansion with GNP Seguros, scaling AIP to power underwriting, claims processing, and fraud prevention.

Palantir and McCarthy announced a multi-year, multi-million dollar strategic partnership to build AIP an AI operating system spanning 160 years of construction intelligence, all connected through the same Ontology.

Through our conversations, we learned of a copper importer that is also leveraging Palantir to optimize throughput while preventing material failure during the process as it balances the delicate process of copper refinement at scale.

We observed AIP enabling a private jet management business to generate more precise quotes by synthesizing both public and proprietary company data, as well as another company powering datacenters utilizing AIP to monitor and manage grid performance as demand from the AI Revolution ramps.

We continue to believe that PLTR has a golden path in the AI Revolution as use-cases broaden while deeper customer engagements fortify PLTR’s stickiness moat.

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