Wedbush has raised Palantir’s price target to $30 from $25 and maintains an Outperform rating on the shares. The increase reflects the company’s remarkable commercial success with AIP, which has seen U.S. commercial business grow by 70% in Q4 and a 44% increase in commercial customer count. This surge in commercial business could potentially lead to a free cash flow of around $1B in 2024, with Wedbush believing that inclusion in the S&P 500 is on the near-term horizon. The firm considers Palantir as an ‘undiscovered gem’ in the market.

Palantir Technologies, a data analytics and software company, has been making significant strides in the market, as evidenced by the recent surge in its commercial business. The AI Revolution is driving deal flow to levels that were not expected until 2025, showcasing the company’s rapid growth and potential for profitability. Wedbush’s optimistic outlook on Palantir’s future performance is indicative of the confidence in the company’s ability to capitalize on the evolving market landscape.

Palantir’s transition from an ‘off Broadway play to a primetime Broadway theater right off of Times Square under the bright lights’ signifies the company’s ascent to a prominent position in the industry. With its commercial business ramping up at a significant pace, the company’s margin and cash flow story is just beginning, according to Wedbush. This positive outlook on Palantir’s financial prospects further reinforces the market’s confidence in the company’s potential.

The surge in Palantir’s commercial business is a testament to the company’s adaptability and strategic positioning in the market. As the AI Revolution continues to drive business growth, Palantir’s trajectory toward profitability and inclusion in the S&P 500 appears promising. With its commercial success and potential for significant free cash flow in the coming years, Palantir remains a compelling investment opportunity in the evolving landscape of data analytics and software solutions.