Palantir may be the stock pick for the DOGE era as it leads the AI revolution while Musk plows through government agencies.
Jerry
Data-mining software company Palantir Technologies may be in the right place at the right time as Elon Musk’s Department of Government Efficiency looks to disrupt federal hiring and spending practices.
Palantir is known for putting its AI-powered platforms to work in the defense and intelligence sectors, but it has also been expanding in the commercial space recently. Those gains and its inclusion in the S&P 500 index helped shares surge 340% last year.
In fact, the 64% jump in Palantir’s US commercial revenue last quarter outpaced its 45% gain in government revenue, fueling investor enthusiasm. The quarterly results prompted Bank of America to raise its price target on Palantir stock to $125 from $90 and reiterate its buy rating.
Source: FORTUNE
