Palantir Technologies Inc. (NASDAQ:PLTR) is having a banner year, with its shares up more than 235% in the past year and showing no signs of slowing down.
Market strategist Keith Fitz-Gerald believes this is just the beginning and boldly claims Palantir could rival Oracle Corp. (NYSE:ORCL), Cisco Systems Inc. (NASDAQ:CSCO) and SAP SE (NYSE:SAP) – and hit $100 per share sooner than you think.
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Fitz-Gerald, speaking on Fox Business, shared an enhanced perspective for the power of data analytics. Initially forecasting a price target of $100 within 3 to 5 years, he now expects Palantir to reach that milestone by the middle of next year. “This thing is a monster,” he said. “No one else has a product like this. It’s the combination of data software that makes the software work. All the legacy vendors right now are in trouble.”
The analyst’s comparisons to industry titans like Oracle and Cisco come as Palantir continues to disrupt its innovative data solutions.
Fitz-Gerald emphasized the company’s unparalleled product offering, suggesting it could outperform traditional vendors struggling to adapt to modern data demands.
Trend: Historically, the Arrived Home Private Credit Fund has paid an annualized dividend yield of 8.1%*, providing access to a pool of short-term loans backed by residential real estate with just a $100 minimum.
Bullish sentiment is not just words.
Chart created with Benzinga Pro
PLTR stock, at $66.05, is flying above all of its major moving averages:
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Eight-day SMA: $63.56
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20-day SMA: $58.00
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50-day SMA: $47.68
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200-day SMA: $31.14
These technical signals underline a strong bullish trend, with PLTR’s moving average convergence and divergence (MACD) at 5.51, another indicator of a buying opportunity.
However, investors should note the RSI of 73.03, which suggests PLTR stock is in overbought territory.
For long-term believers, Palantir’s trajectory could mirror the meteoric rise of companies like Oracle and Cisco during their heydays. With its unique ability to integrate complex data solutions across industries, Palantir is positioned to dominate a market where legacy systems struggle to keep pace.