Palantir Technologies is deserving of a higher stock classification following the release of better-than-expected third quarter earnings. See why PLTR stock is a Hold.

According to the Financial Times, Palantir has added a whopping $23 billion to its market cap since Donald Trump won the presidential election on Nov. 5. Investors seem to believe the company will benefit from increased defense and law enforcement spending under the new administration. However, this narrative looks overblown.

After Nvidia’s roaring success in recent years it may be time for the wider software sector to “get in on the AI party.” That’s the view of Wedbush analysts, who have become increasingly bullish on software stock Palantir Technologies.

Of the two AI stocks, Nvidia is far cheaper and the better buy right now. Trevor Jennewine has positions in Nvidia and Palantir Technologies. The Motley Fool has positions in and recommends Nvidia, Palantir Technologies, and Snowflake. The Motley Fool has ...

Palantir Technologies (NYSE: PLTR) is one of the hottest stocks of 2024, but I think there is another hot artificial intelligence (AI) software stock that investors should consider as well. AppLovin's (NASDAQ: APP) stock price is up more than 650% so far this year,

Dan Ives, a Wedbush analyst, has reaffirmed his $75 price target for Palantir, citing strong growth potential driven by its AI advancements and software solutions, despite skepticism from some market analysts.

Palantir Technologies stock (NYSE: PLTR) has had a solid run, rising more than 3.5x since the beginning of the year to about $63 presently.

The rapidly growing adoption of artificial intelligence (AI) has given shares of many companies a big boost in the past couple of years, and that's not surprising as this technology is expected to impact the global economy in a big way.

Despite recent gains, analysts remain divided. Firms like Mizuho and Royal Bank of Canada have adopted more cautious tones, even as others, such as Bank of America, have raised their price targets to $75. The stock currently holds a Hold rating with an average price target of $35.64.

Musk could look to Palantir to modernize the Defense Department and reduce reliance on outdated methods of warfare, Cramer says.

Dubbed the Messi of AI growth, Palantir Technologies Inc. (NASDAQ:PLTR) has had a remarkable couple of years. The stock soared more than 45% this month alone, demonstrating how far it has come from being a government-focused contracting and consulting firm to an AI-driven data analytics software company.