Palantir (PLTR) shares are up more than 350% in 2024 and the stock’s run may not be over yet, according to one analyst.
Wedbush Securities global head of technology research Dan Ives says the company is “transforming the AI revolution.” “What Palantir has, no one else could compete with. When you think about who could be the next Oracle (ORCL), the next Salesforce (CRM), I believe it’s Palantir,” Ives tells Yahoo Finance, advising investors to look at the stock’s potential over the next 3-5 years.
When asked what says Palantir apart, Ives points to their intellectual property, arguing that “no one matches” it. As far as valuation concerns go, Ives shrugs them off. “If you just focus on valuation, you’ve missed all the transformational tech winners, from Apple (AAPL) to Meta (META) to Google (GOOGL, GOOG) to Tesla (TSLA) and others.”
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