Palantir Stock Jumps in Pre-Market as Top Tech Analyst Raises Price Target to $75
Palantir Technologies Inc. saw a 3.25% increase in pre-market trading on Monday as it prepares to move from the NYSE to the Nasdaq. Starting November 26, the company’s stock will be traded under the ticker symbol “PLTR” on the Nasdaq exchange.
This move is part of a growing trend, with Nasdaq attracting 16 significant companies this year, including Science Applications International Corp and Campbell Soup Company. While Palantir has not confirmed plans to join the Nasdaq-100, potential inclusion could boost visibility and attract investor interest. It’s worth noting that companies that switch to Nasdaq often end up in the prestigious index, which could drive up demand for Palantir shares.
Palantir’s stock value has surged by 288% year-to-date, a significant increase attributed to the company’s focus on artificial intelligence. Analyst Dan Ives has raised Palantir’s price target to $75, signaling confidence in the potential of the AI software sector. With 2025 expected to be a pivotal year for AI implementation, Palantir’s efforts to enhance its AI capabilities could position the company to benefit from the anticipated AI revolution.
