Investment Bank Believes That Palantir (PLTR) Stock Is “Likely” to Retest Highs

Larry Ramer

Mon, Apr 28, 2025, 10:01 AM 2 min read

In a note circulated last week, investment bank Piper Sandler contended that Palantir (PLTR) stock would probably retest its February high of almost $125 in the near-to-medium term.

Also late week, Palantir disclosed that it had expanded its alliance with Alphabet (GOOG,GOOGL).

Why Piper Is So Bullish on PLTR

Using technical analysis, Piper noted that PLTR stock had recently emerged from a falling wedge. Since the latter event often indicates that stocks are heading higher, Piper believes that PLTR "appears likely" to close in on its old highs.

Palantir's Expanded Partnership With GOOG

Alphabet has agreed to integrate Google Cloud with PLTR's FedStart project. As a result of the deal, federal agencies will be able to utilize Palantir's apps using Google Cloud, Diane King Hall, an anchor on Schwab Network explained. The agreement will enhance the security and compliance of PLTR's offerings,  she reported.

In the wake of the announcement, "many believe that the situation with Palantir's government contracts is not as bad as feared," the anchor said. However, she added that "some questions still need to answered regarding Palantir's government contracts and its exposure to them."

While we acknowledge the potential of PLTR, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than PLTR but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.