Despite the strong outlook for the industry, Wall Street analysts only expect one of these enterprise-software leaders to keep climbing higher over the next 12 months. Palantir has a median-price target of $38 per share, based on the estimates of 22 analysts. That implies a downside of 30% from its share price, as of this writing.

Drops for Big Tech companies including Microsoft and Facebook's parent company Meta Platforms led Wall Street lower

U.S. stocks cruised to more records as they closed their best week in a year on Friday. The S&P 500 rose 0.4% to cap its biggest weekly gain since early November 2023 and briefly crossed above the 6,000 level for the first time.