PLTR
Same rocket ship, different seatbelts
Palantir’s first-quarter print had the usual ingredients for a victory lap: a beat, a raise, and a whole lot of AI optimism. Then the stock still slid 7.6% on Tuesday, because apparently even a company on a hot streak can get hit with the classic “great results, terrible expectations” combo.
Analysts mostly stuck with the party. Bank of America’s Mariana Perez Mora reiterated a Buy and slapped on a $255 price target, calling the quarter a “step-function print.” Rosenblatt’s John McPeake also kept a Buy, nudging his target up from $200 to $225. Both basically argued that Palantir is still riding the early innings of enterprise AI adoption — the corporate version of “you haven’t seen my final form.”
The one thing keeping bears from rage-quitting
Not everyone is ready to toss confetti. DA Davidson’s Gil Luria stayed Neutral and trimmed his target to $165, not because the business looks weak, but because the valuation is doing backflips. At around 50 times calendar 2026 revenue estimates, Palantir is priced like the market already believes the future is here.
That’s the tension with PLTR in one sentence:
- Growth looks ridiculous
- Demand from U.S. government customers is still surging
- Commercial AI adoption is accelerating
- And the stock is expensive enough to make even believers blink
Big picture
This is the kind of stock where the fundamentals and the multiple are having two very different conversations at once. If Palantir keeps turning AI hype into actual revenue, the bulls will keep making noise. If growth cools even a little, the valuation could go from “elite software premium” to “whoa, that’s a lot of future already baked in.”