Palantir may be the stock pick for the DOGE era as it leads the AI revolution while Musk plows through government agencies

Fortune02:05

Shares of Palantir Technologies soared over the past week on strong earnings and guidance, just as Elon Musk's DOGE embarked on an aggressive campaign to upend government workforce and spending ...

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Those gains and its inclusion in the S&P 500 index helped shares surge 340% last year.\nIn fact, the 64% jump in Palantir’s US commercial revenue last quarter outpaced its 45% gain in government revenue, fueling investor enthusiasm.\nThe quarterly results prompted Bank of America to raise its price target on Palantir stock to $125 from $90 and reiterate its buy rating.\n\"The company sees the world ripe for an AI and technology revolution,\" analysts said in a note on Tuesday. \"We see PLTR enabling and leading this revolution in both Commercial and Defense markets.\"\nMeanwhile, Musk's DOGE is looking to slash the federal workforce and spending in moves reminiscent of his takeover of Twitter in 2022. \nHis team of young DOGE engineers is reportedly bringing beds into government buildings, staking out territory with sticky notes, and questioning workers on their usefulness.\n\"While not a consensus view, we think the Department of Government Efficiency (DOGE) could be a major opportunity for government efficiency enablers,\" BofA said.\nIf DOGE ushers in an era of commercial-like contracting, digital-first development requirements, and open-architecture requirements, then Palantir's line of businesses and approach to government contracts are \"already in line,\" analysts added. \nPalantir executives were similarly bullish during a conference call with analysts late Monday after reporting fourth-quarter earnings.\nChief Technology Office Shyam Sankar said DOGE will bring meritocracy and transparency to government, which fits with Palantir's business.\n\"The commercial market is meritocratic and transparent, and you see the results that we have in that sort of environment. And that's the basis of our optimism around this,\" he added. \"I think the work that we've done in government, it's deeply operational, it's deeply valuable, and we're pretty excited about exceptional engineers getting in there under the hood and being able to see that for a change.\"\nAfter trying to dismantle the US Agency for International Development, DOGE is expected to take on some of the biggest areas of government spending.\nOn Friday, President Donald Trump said he instructed Musk to \"check out\" the Pentagon, which has a 2025 budget of $850 billion.\nFor his part, CEO Alex Karp said Palantir loves disruption, which helps expose things that aren't working.\n\"There's a revolution. Some people get their heads cut off,\" he told analysts on Monday. \"It's like, we're expecting to see really unexpected things and to win basically. That's what we're going to do.\"\nThis story was originally featured on Fortune.com","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.30.2","shortVersion":"4.30.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2510706594"}