The worldwide head of expertise analysis at Wedbush Securities, Dan Ives, is leaning bullish on analytics software program agency Palantir Applied sciences (PLTR).
In a brand new CNBC interview, Ives says the market cap of Palantir Applied sciences might skyrocket by round 290% from the present degree in a number of years.
“I imagine that is going to $1 trillion market cap within the subsequent two to a few years. These numbers simply present, I feel, ‘Let’s get to popcorn out.’ It’s nonetheless within the early days of taking part in out.”
As of Monday’s market shut, Palantir Applied sciences is buying and selling at $108 and has a market cap of roughly $256 billion.
Whereas likening Palantir Applied sciences to soccer famous person Lionel Messi, Ives defends the software program analytics agency’s valuation, saying it’s justified given the expansion alternatives.
“Should you return the previous few years, I imply they hated it at $10, despised it at $100 and that will be the continued argument of valuation.
Should you take a look at what’s occurred to the synthetic intelligence (AI) revolution, $2 trillion of spend over the following three years. On the software program facet, it’s their world, everybody else is paying lease, revenue is to Palantir.
So my view is should you take a look at simply on valuation, and should you went again, you’ve missed each transformational tech inventory within the final 20 years. Should you simply centered on valuation, the place is that this within the subsequent two, three, 4 or 5 years?
And I view what [CEO Alex] Karp’s doing at Palantir is generational. However once more, the haters are going to hate, I get it. Valuation. Examine the field. You take a look at these numbers, to me, I feel that is simply one other form of table-pounder second, you understand, for what I view because the Messi of AI, Palantir.”
Billionaire enterprise capitalist Peter Thiel owns about 4.5% of Palantir Applied sciences, in keeping with monetary information agency Fintel.
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