Daniel Ives Stays Bullish on Palantir Stock, Says Michael Burry's Take on Anthropic Eating PLTR's Lunch is 'Fictional Narrative'

Palantir Technologies (PLTR) stock plunged 1.86% on Friday following a 7.3% plunge the previous day, after "Big Short" investor Michael Burry's post on X spooked investors about competitive pressure from AI startup Anthropic. Burry noted Anthropic's phenomenal growth and said that it is "eating Palantir's lunch." While Burry has constantly been bearish about the data analytics provider, Wedbush's top analyst Daniel Ives remains bullish on PLTR stock and reiterated a Buy rating with a price target of $230.

Ives believes that Burry's view on PLTR in his now-deleted post on X is a "wrong take and fictional narrative (in our view) as Palantir is at the epicenter of leaders in the AI Revolution while its AIP [artificial intelligence platform] product moat remains unmatched in our view."

Ives noted that Palantir stock has been under pressure over the past few days after Anthropic released a new product focused on multi-agent orchestration. This launch added to the challenges for the software sector.

The 5-star analyst acknowledges Anthropic's rapid growth, noting that the AI firm's annual recurring revenue (ARR) has surged to $30 billion from $9 billion at the start of the year. However, Ives doesn't believe that Anthropic's "unprecedented" growth is at the expense of Palantir's business, given that the latter continues to see acceleration in both its U.S. Commercial and Government businesses.

Specifically, Ives highlighted that PLTR reported a 137% year-over-year growth in its U.S. Commercial division's Q4 2025 revenue and a 66% rise in the U.S. Government division's top line. He believes that Palantir's moat stems from data and ontology. This moat is not being disrupted by Anthropic's Claude, "if anything, it's accelerated on the enterprise," contends Ives.

Currently, Wall Street has a Moderate Buy consensus rating on Palantir Technologies stock based on 14 Buys, five Holds, and two Sells. The average PLTR stock price target of $194.61 indicates about 52% upside potential from current levels. PLTR stock has declined 28% year-to-date.