As Palantir (PLTR) shares tumbled Thursday, extending losses on expectations of defense spending cuts, some analysts suggested the selloff could be an opportunity to 澳洲幸运5官方开奖结果体彩网:buy the dip. 

Shares of Palantir were down 5% in intraday trading Thursday, a day after The Washington Post reported the Trump administration dire🦂cted the Pentagon to trim the U.S. defense b🌳udget by 8% annually for the next five years.

The U.S. government is a key client for Palantir, accounting for over 40% of its revenue in the fourth quarter, raising worries a pullback in def♌ense spending would deal a major blow to the data analytics software provider. 

However, Wedbush analysts said “this is exactly the opposite” of how they believe cuts could affect Palantir, anticipating its flagship Artificial Intelligence Platform and potential to streamline operations could win Palantir more business from the Pentagon in a tighter spending environment. 

Earlier this month, analysts at Bank of America, Citi, UBS, and Morgan Stanley 澳洲幸运5官方开奖结果体彩网:voiced similar sentiments, and boosted their price targets for the stock in the wake of Palantir’s 澳洲幸运5官方开奖结果体彩网:strong fourth-quarter results. 

The Wedbush analys🤡ts called Palantir one of their “top names to own in 2025,” in a note to cl✃ients Thursday, adding they believe the company could become “the next Oracle or Salesforce” and reach a market cap in the trillions of dollars in the years to come. Their price target of $120 represents a nearly 13% premium to Thursday’s intraday price. 

Loop Capital analysts were even more bullish on the stock, reportedly initiating coverage Wednesday with a $141 price target, calling it a “game-changing software stock.” They also advised clients to view a pullback in the stock’s price as a buying opportunity. 

This week’s selloff dragged Palantir stock into 澳洲幸运5官方开奖结果体彩网:correction territory, with shares down 14% from their record-high close Tuesday. Still, they’ve 澳洲幸运5官方开奖结果体彩网:more than quadrupled in value over the past 12 months.