Palantir Technologies Inc.'s Stock Soars in Pre-Market Trading

Impressive Rally Continues

Palantir Technologies Inc.'s stock (PLTR, +10.28%) surged by 6.5% in pre-market trades on Monday, extending its recent rally. The software maker's shares experienced a substantial gain of almost 10.3% in Friday's session alone, marking the largest single-day percentage increase since May 18, 2023, when they rose by an impressive 14.5%.

Analyst Coverage and Price Target

Last Friday, Wedbush, an analyst firm, initiated coverage of Palantir and assigned it an outperform rating, while setting a price target of $25. In a note, Wedbush analyst Dan Ives referred to Palantir as "the Messi of AI on the golden track to success," drawing a comparison to Lionel Messi, the Argentine soccer star currently enjoying a remarkable start to his MLS career at Inter Miami. Ives stated, "In a nutshell, we believe Palantir has built an AI fortress that is unmatched and poised to be a major player in this AI Revolution over the next decade."

Stellar Performance

Palantir's stock has seen a staggering rise of 177.4% so far in 2023, surpassing the S&P 500 index's gain of 19.3%.