Veteran analyst who forecast Palantir stocks rally makes surprising decision
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Your attention, please: Alex Karp has something to say.
The co-founder and CEO of Palantir Technologies (PLTR) recently appeared on HBO’s Real Time with Bill Maher, where he extolled the virtues of living in America.
Related: Palantir stock surges on huge S&P 500 decision
“I was viewed as the Frankenstein monster," Karp said. "I don’t come from wealth. And I get the opportunity to prove myself. No one in this country cares how crazy you are if you deliver."
"The crowd went bananas," according to TheStreet Pro’s Ed Ponsi, who watched the interview and wondered whether Karp was following in the footsteps of Tesla’s (TSLA) Elon Musk and Apple’s (AAPL) Steve Jobs to become the next rockstar CEO.
“His interview was both mesmerizing and contradictory," Ponsi said. "The co-founder and CEO of Palantir put on a brilliant performance, even as he struggled to coherently explain what it is his company actually does. No matter. This was Karp’s moment on the big stage.”
“Like Jimi Hendrix at Monterey or Bob Dylan at Newport, Karp has just entered the general public’s consciousness,” he added.
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Analyst 'on sidelines' with Palantir
Ponsi noted that several years ago Karp made "a Bono-level proclamation" — referring to the U2 frontman — when he said that “we will be the most important software company in the world.”
"Now, everybody is catching on," Ponsi said. "Karp is becoming 'that weird software guy," even among folks who aren’t focused on investing and trading."
Related: Analysts respond to Palantir's entry into the S&P 500
Like Jobs and Musk, he said, Karp’s products are revolutionary.
“Like those rock stars before him, he now embodies his company,” Ponsi said. "Jobs was Apple. Musk is Tesla. And now, for better or worse, Karp is Palantir.”
This has been quite a rocking time for Palantir, which went public in 2020 and has added more than $35 billion in market value over the past year.
The artificial-intelligence-focused data-analytics company, which caters to commercial and government clients, is scheduled to join the S&P 500 on Sept. 23, replacing American Airlines.
On Sept. 12 Citi analyst Tyler Radke affirmed his neutral rating on Palantir with a $30 price target after meeting with Chief Financial Officer Dave Glazer, according to The Fly.
The company remains upbeat on its artificial intelligence platform momentum, with consistent macro commentary, Radke told investors in a research note.
However, the analyst said the company’s pending inclusion in the S&P 500 Index saw a 15% stock-price uptick, which increased Palantir's valuation to one of the most expensive names in software: a multiple of 25 times next 12 months' enterprise value to sales.