We're Raising Our Palantir Price Target After Commercial Sector Partnership
We like this move that expands the company's reach through AI-enhanced customized retail checkout.
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On Thursday we increased our price target for Costco COST, and later in the day, we did the same for Axon Enterprise AXON, reminding members that new information leads us to revisit existing targets for the Pro Portfolio’s holdings.
We are making a similar move Friday with shares of Palantir Technologies PLTR, a position that has performed tremendously for the Pro Portfolio since we smartly picked up the shares in March between $79-$84. The catalyst for us to lift our PLTR target to $140 from $130 is the newly announced partnership with one-click checkout platform Bolt Financial to offer a payment process enhanced by artificial intelligence.
Per Bolt, it will feed the data it has collected “about millions of shoppers” on consumer identity and transactions into specialized models created with Palantir. The result will be technology that can offer shoppers a customized checkout experience, embedded within retailers’ sites and apps, and it is one that will extend to agentic checkout as well. Bolt recently launched with Saks OFF 5TH, Shinola, Filson, Lafayette 148, and Toys "R" Us, adding them to its lineup of retailers.
We see this as the latest expansion by Palantir into the commercial space, and we are likely to see more of this as AI flows through payment processing and digital shopping applications. Last month, Google GOOGL unveiled an AI-centric shopping experience, and recently AI search startup Perplexity AI announced it would allow consumers to check out while using its AI chat tool via PayPal or Venmo.
In Saturday’s Signals alert, we’ll share more confirmation of AI adoption in the healthcare, retail, government, consulting, and service sectors. These would speak to the recent comment by Nvidia NVDA CEO Jensen Huang that AI adoption in the enterprise is about to explode. We see those signals supporting our position in PLTR but also those in ServiceNow NOW and Elastic ESTC.
As we make this move with our PLTR price target, we will reiterate that we still plan on revisiting it following the company’s next AIPCon event. In the meantime, we will lift our panic point on the shares to $90 from $80 and reset a potential pickup point for this Two-rated stock near $110.
At the time of publication, TheStreet Pro Portfolio was long PLTR, COST, AXON, NVDA, GOOGL, NOW and ESTC.
