Palantir Technologies (NYSE: PLTR) – already a renowned company for its data analytics and artificial intelligence (AI) software and a beacon of stock market resilience – has recently been hit with a string of additional boons.
Not only has PLTR been granted a new $1.5 billion contract by the U.S. military as part of its Tactical Intelligence Targeting Access Node (TITAN) initiative, but it has also seen its price target increased and the “buy” rating maintained by the banking holding company Mizuho (TYO: 8411).
Even though these developments have added to Palantir’s gains – which have already been substantial since 2024 started – the question of how high the stock can go remains.
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In its quest for possible answers, Finbold consulted the most advanced model of OpenAI’s flagship AI platform – ChatGPT – on where PLTR might stand at the year’s end.
ChatGPT forecasts Palantir stock performance
When deciding on the likeliest price target for Palantir stock for December 31, 2024, ChatGPT-4 first highlighted the company’s adoption of AI, its access to substantial government contracts, and its proven ability to make significant gains in relatively short time frames.
Following from this, OpenAI’s most advanced model argued that PLTR shares are likely to find themselves in the range between $28 and $32. After it was pressed to settle for a single price, ChatGPT settled for $30, arguing that it is a plausible prediction provided Palantir manages to sustain the recent trends.
The AI also made an unexpected Middle Earth joke when providing the price target.
After providing the generalized forecast, ChatGPT was asked to design a highly bullish but reasonable scenario. The AI concluded that should the AI sector see even more explosive growth and should it make unexpected technological breakthroughs in 2024, PLTR might comfortably stand at $40 on December 31.
On the other side, ChatGPT’s bearish scenario assumed a possible economic downturn, the rise of a major competitor which might give Palantir a run for its money and even cost its certain important contracts, or simple market saturation with AI solutions and concluded PLTR might – under such circumstances – drop as low as $20 by the end of the year.
Palantir stock price chart
While it would be difficult to reliably peer into the future even with an actual Palantir at hand, it is certain that PLTR stock has been performing very well for over a year. In fact, the last 52 weeks saw Palantir shares rise 224.03%, while they soared 61.82% year-to-date (YTD).
The more recent trend has also been largely positive, and PLTR stock rose 13.69% in the last 30 days and 6.05% in the last full week.
Mizuho’s recent price target upgrade ensured that Palantir climbed about 3% in Thursday’s premarket, and the stock opened with some volatility on March 7. By press time, it was up 2.92% in 24 hours at $26.93.
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