Palantir Technologies Inc. (PLTR) has been making significant strides in the stock market, with its recent $1.5 billion contract from the U.S. military as part of the TITAN initiative. Mizuho has also increased its price target for PLTR, maintaining a buy rating. As Palantir continues to climb, investors are eager to know where the stock will stand by the end of 2024.
After consulting OpenAI’s ChatGPT-4, the AI model highlighted Palantir’s AI adoption, access to government contracts, and ability to generate substantial gains in short periods. ChatGPT-4 predicted that PLTR shares could range between $28 to $32 by December 31, 2024, with a settled price target of $30 if current trends persist.
In a bullish scenario, if the AI sector experiences explosive growth and technological breakthroughs in 2024, Palantir’s stock could potentially reach $40 by year-end. Conversely, a bearish outlook envisages a possible economic downturn, emergence of a major competitor, or market saturation leading to a drop in PLTR stock to $20.
Despite the uncertainties, Palantir has shown strong performance, with a 224.03% rise in the last 52 weeks and a 61.82% increase YTD. The stock has surged 13.69% in the last 30 days and 6.05% in the past week. Recent upgrades in price targets by Mizuho have resulted in positive premarket movements and stock opening at $26.93 on March 7, up 2.92% in 24 hours.
Investors are closely monitoring Palantir’s trajectory, amidst a backdrop of evolving market conditions and technological advancements. With the potential for both upside and downside scenarios, the future of PLTR stock remains intriguing for stakeholders worldwide.
