Palantir 'Key Enabler' Of Clients' Businesses, Says Bullish Analyst, As CEO Alex Karp Touts 10-Fold Growth From Current Levels

Palantir Technologies, Inc. PLTR held its 5th AIPCon last week, which was live-streamed on Thursday, and a bullish analyst came away from the conference impressed.

The Palantir Analyst: BofA Securities analyst Mariana Perez Mora reiterated a Buy rating and $50 price target for the stock, which suggests an upside potential of about 38%.

The Palantir Thesis: Palantir CEO Alex Karp kicked off the meeting by relaying excitement over Palantir’s inclusion in the prestigious S&P 500 Index and stating that the event recognizes Palantir as an “actual serious” company, Perez Mora said.

Karp also highlighted all the success that has been built on top of “powerful products, strong values and the very best people and partners,” the analyst said. The partners are de facto the company’s clients, the analyst said. The CEO is convinced that Palantir could be 10 times larger than what is currently, she added.

“We see Palantir as a key enabler of their partners’ acceleration, driving material results to strengthen their business and in turn Palantir,” Perez Mora said.

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The analyst noted that as has been customary of the previous FoundryCon and AIPCons, real customer use cases were a focal point. Executives from global corporations and organizations such as Geospatial Intelligence Agency, Aramark, Associated Materials, Lear, Trinity Industries, Mount Sinai, Komatsu and Tampa General Hospital demonstrated the capabilities and operational benefits achieved within AIP, she noted.

After the public presentation, other customers such as BP, Anduril, DTN, EllisDon, Department of State, L3Harris, Owens & Minor and Selkirk Spor held demos to prospective customers, she said. The analyst expects AIPCon demos to expand the portfolio to customers, ranging from commercial businesses and hospitals to government customers, as well as use cases.

Delving into the other opportunities, Perez Mora noted that the recently launched “Warp Speed” product was pitched as a new tool for the American industrial base to re-industrialize their businesses with a digital marketing operating system. The analyst also said she sees an increasing sense of urgency in the U.S. to ramp up the dry powder of the military-industrial base, particularly in the efforts to deter the pacing threats from China.

Palantir Stock: Palantir ended Monday’s session up 2.02% at $$36.31, and in the premarket session on Tuesday, the stock edged up about 0.1%, according to Benzinga Pro data.

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