Palantir (PLTR) shares closed higher on Friday after a senior Wedbush analyst, Dan Ives, said the data analytics firm will exceed $1 trillion in market cap within the next three years. Ives’ bullish remarks arrive only days after the Denver-headquartered firm reported a blowout Q2 and raised its full-year guidance,

Palantir Technologies Inc. (NASDAQ:PLTR) is one of the Trending AI Stocks on Wall Street. On August 5, Wedbush analyst Dan Ives raised the price target on the stock to $200.00 (from $160.00) while maintaining an Outperform rating.

Many of Wall Street's finest are coming down with a fear of heights. Of the 25 analysts that offered an opinion in July, only four rate Palantir a buy or strong buy, 16 rate it a hold, and the remaining five have assigned underperform or sell ratings. It's no surprise that almost all the bearish calls cite the stock's pricey valuation.