/A%20Palantir%20office%20building%20in%20Tokyo_%20Image%20by%20Hiroshi-Mori-Stock%20via%20Shutterstock_.jpg)
- Palantir (PLTR) is down significantly from its peak price, and most bulls have started toning down their excitement about the stock. PLTR was trading above $125 and at well over 600 times earnings. Bulls expected even more, as the market rewarded the company massively on any positive news.
Things have cooled down significantly since then. Proposed defense budget cuts appear to have spoiled the bullish sentiment surrounding the stock.
However, some bulls are still standing their ground. Wedbush analyst Dan Ives is a great example.
Dan Ives’ Current Palantir Stock Outlook
Wedbush analyst Dan Ives has doubled down on his bullish position on Palantir. He called it one of the “top names to own in 2025.” That’s despite the stock losing one-fourth of its value over the past month.
Wedbush maintained its “Outperform” rating and a $120 price target for Palantir stock. This implies roughly 42% upside potential from here.
Dan Ives previously referred to Palantir as the “Messi of AI,” and he thinks that Palantir could be worth over $1 trillion in the next three to five years.
If you go back even earlier to July 2024, Ives set a bull case for Palantir reaching $50 by 2025. Back then, even bulls doubted whether or not that would materialize, since Wall Street had never paid so much for a software stock since the dot-com bubble.
Today, Palantir is well over $50. So considering he has been right about Palantir so many times, it’s worth taking a serious look into Ives’ $1 trillion bull case.
What Other Analysts Think
Wall Street has varied opinions about Palantir. Dan Ives has been the most optimistic and has been the most right up until now. Most other analysts have hiked their price targets and have trailed the stock price on its way up.
The mean price target right now is $85.11. This is the first time in a long time that Palantir has dipped below its mean price target, though that implies little upside from here.
PLTR has 19 analysts covering it right now, with four “Sell” ratings, one “Moderate Sell” rating, 11 “Hold” ratings, and three “Strong Buy” ratings.
Should You Buy the Dip?
Palantir has stellar financials right now, but I wouldn’t necessarily tag PLTR as a buy simply because of Dan Ives’ opinion.
He may have been right during a rally, but the opposite could be true if the broader market starts trending down over the coming months. Trump has yet to walk back on his defense cut plan, and his tariffs have only been delayed, so the market could get spooked again depending on what happens next.
PLTR is a high-risk bet that still trades at 751 times trailing earnings.
Two things could happen from here: the AI rally continues, and PLTR keeps soaring. Or the market continues to cool down over the next few months. The latter scenario would knock down PLTR just as fast as the rally brought it up.
The consensus “Hold” rating seems to fit PLTR the best for now.
