Palantir Technologies, Inc. (NYSE:PLTR) shares are trading higher Wednesday. The stock has gained more than 34% over the past month.

What To Know:

Deepwater Asset Management's Gene Munster recently mentioned Palantir on CNBC's "Squawk Box" as a company that is undervalued and positioned to continue to ride the current artificial intelligence wave higher.

Munster also listed Palantir as one of several companies including CrowdStrike Holdings, Inc. (NASDAQ:CRWD) and Etsy, Inc. (NASDAQ:ETSY) with a "2x or 3x upside opportunity over the next year."

PLTR shares are trading above the stock's 50-day moving average of $17.17 and just below its 52-week high of $21.85.

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PLTR Price Action: According to Benzinga Pro, Palantir Technologies shares are up  by 1.47% at $20.00 at the time of publication.

Image: Gerd Altman from Pixabay