Wedbush analysts last week raised their price target on Palantir stock to $90 from $75 and maintained an Outperfor

Palantir also continues to introduce new products, including a visual navigation AI that can guide autonomous drones in areas without GPS. As a business, Palantir looks solid. It has an impressive set of competitive advantages, given its focus on defense tech and experience in data mining and analytics.

Karp has been hyping up the business, and that means expectations will be high for Palantir when it releases its results on Feb. 3. But even if it can deliver, that may not be enough to send the stock soaring.