Palantir Technologies Inc (NASDAQ:PLTR) is having a great year, with its stock up more than 235% in the past year and it shows There are no signs of slowing down.
Market strategist Keith Fitz-Gerald believes this is just the beginning, boldly claiming that Palantir can compete with… Oracle Corporation (NYSE: Oracle), Cisco Systems Inc (Nasdaq: Cisco) and SAP C (NYSE:SAP) – and reach $100 per share sooner than you think.
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fitz gerald, to talk On Fox Business, she shared an updated outlook on the power of data analysis. Initially anticipating a target price of $100 within 3-5 years, Palantir is now expected to achieve that milestone by the middle of next year. “This thing is a monster,” he said. “Nobody else has got a product like this. It’s the data binding software that makes the software work. Every legacy provider is now having a problem.”
The analyst’s comparisons to industry giants like Oracle and Cisco come as Palantir continues to disrupt with innovative data solutions.
Fitz-Gerald emphasized the company’s unparalleled product offering, suggesting it can outperform traditional providers struggling to adapt to modern data demands.
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Bullish sentiment is not just talk.
Chart created with Benzinga Pro
PLTR stock, at $66.05, is flying high above all of its major moving averages:
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Eight-day simple moving average (SMA): $63.56
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20-day simple moving average: $58.00
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50-day simple moving average: $47.68
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200-day simple moving average: $31.14
These technical signals confirm a strong uptrend, with the Moving Average Convergence Divergence (MACD) at 5.51, another indicator of a buying opportunity.
However, investors should note the RSI at 73.03, indicating that PLTR stock is in the overbought zone.
For long-term believers, Palantir’s trajectory could mirror the meteoric rise of companies like Oracle and Cisco during their heyday. With its unique ability to integrate complex data solutions across industries, Palantir is positioned to dominate a market where legacy systems struggle to keep up.
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