Wall Street analysts' target prices are modeled based on many factors, and each one comes up with something different. Target prices can range from a large loss to a large gain, so it doesn't make sense to base your investment decisions based on one Wall Street analyst.

Wedbush analyst Dan Ives is out with an early reaction to Palantir's "eye-popping" results, featuring beats across the board.

After a 150% rally that’s added about $60 billion in market value, Wall Street thinks Palantir Technologies Inc. has gotten way ahead of itself.

Wall Street currently has an average price target of $27.67 on Palantir's stock, indicating about 35% downside. Adobe's one-year average target is $621.15, indicating about 25% upside (both consensus targets are from TipRanks).

Palantir Technologies shares powered firmly higher in early Tuesday trading Palantir (PLTR) , which was added to the S&P 500 last month, has established itself as key player in the defense industry, with a host of contracts with domestic and international agencies that focus on its data analytics and AI technologies.

Palantir shares jumped in extended trading on Monday after the analytics software provider topped third-quarter earnings estimates and lifted its full-year revenue outlook amid robust demand for its AI offerings.

Shares in Palantir Technologies Inc. were up over 12% in late trading today after the big data analytics company reported stronger-than-expected earnings and revenue in its fiscal third quarter and revised its full-year outlook upwards.