Wall Street Analysts Love Palantir, Datadog and Amazon Stocks Today

By Ian Cooper Published Oct 29, 9:03AM EDT

Key Points

Wall Street Analysts gave Amazon, NVIDIA, Datadog, Palantir and Apple another round of approvals and moved the stock prices for each higher.
The broad market is moving higher, with the S&P 500 up .25% pre-market.
Analysts at Wedbush reiterated an outperform rating on PLTR ahead of earnings on November 3.
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Wall Street Analysts Love Palantir, Datadog and Amazon Stocks Today — © Thapana_Studio / Shutterstock.com

Markets are still exploding higher pre-market.

For one, markets are waiting for the Federal Reserve’s decision later today. “Markets are assigning a nearly 100% probability that the Federal Open Market Committee will approve a second consecutive quarter percentage point, or 25 basis point, reduction in the federal funds rate. The overnight lending benchmark is currently targeted between 4%-4.25%,” says CNBC.

Two, Nvidia, which was up more than $9 a share yesterday, is up another $7.77 on news it expects to see $500 billion in AI chip sales. It added that it will partner with the U.S. Department of Energy to build seven new supercomputers.

And three, analysts are still bullish on tech giants, including:

Apple (NASDAQ: AAPL): | AAPL Price Prediction Ahead of Thursday’s Apple earnings, Bank of America just reiterated a buy rating on the tech giant with a $320 price target. “We consider the impact of Artificial Intelligence (AI) on Apple’s revenues, enhancing potential new product offerings (AI augmented eye-wear, in-house AI robots/smart home), while potentially being disruptive in other cases (AI impact on traditional search revenues),” said the firm, as quoted by CNBC.

Nvidia (NASDAQ: NVDA): Just yesterday, Nvidia said it expects to $500 billion in AI chip sales. It also took a $1 billion stake in Nokia to develop 6G cellular technology. As a result, Goldman Sachs has a buy rating on NVDA with a price target of $210. Citi has a buy rating with a price target of $210. Bank of America has a buy rating with a price target of $275 from $235.

Palantir (NASDAQ: PLTR): Analysts at Wedbush reiterated an outperform rating on PLTR ahead of earnings on November 3. The firm says PLTR has the potential to become a trillion-dollar company as the AI boom takes hold.

Amazon (NASDAQ: AMZN): Loop Capital analysts just reiterated a buy rating on Amazon ahead of earnings on Thursday. As quoted by CNBC, the firm said, “We are bullish on the stock ahead of earnings because: (1) we see several signs that AWS revenue growth has started to accelerate and the growth curve will continue to bend upward, (2) we think acceleration in retail units observed in 2Q will continue.”

Datadog (NASDAQ: DDOG): Bank of America reiterated a buy rating on DDOG ahead of the company’s earnings on November 6, with a price target of $180, up from $175, due to growing confidence in the stock.

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About the Author Ian Cooper →

Ian Cooper is a veteran market analyst and investment strategist with more than 20 years of experience covering stocks, commodities, and macro trends. Since 1999, he has helped investors identify market opportunities using a blend of technical analysis, fundamental research, and market sentiment.

He is the creator of the ADD News Flow Strategy, which focuses on trading market reactions to major news events and investor psychology. Cooper was also among the analysts who warned about the 2008 financial crisis and major financial institution collapses ahead of the broader market.

Before joining 247 Wall St., Cooper wrote extensively for InvestorPlace and other financial publications, covering market trends, trading strategies, and investment opportunities.