Piper Sandler Increases Palantir’s PT to $182

Piper Sandler analyst Brent Bracelin raised on August 5, 2025, the price target on Palantir Technologies to $182 (from $170), while maintaining a ‘Overweight’ rating.

“Robust Q2 demand across both government and U.S. commercial were supportive of the intermediate-term bull-case scenario on PLTR (30-35%+ CAGR), punctuated by the biggest absolute dollar beat ever ($68M above mid-point guide) with top-line growth accelerating for the 8th straight quarter to 48% (vs.

39% prior).

The 10-year $10B Army Deal strengthens the case for further government share gains within the large $1T+ Defense TAM while 93% y/y growth (vs.

71% prior) in U.S. commercial reinforces an untapped AI platform opportunity for large enterprise customers.

While PLTR carries a rich valuation premium and remains a high-risk investment, the one-of-a-kind growth+margin model puts it into a unique category of one that warrants a premium, in our view.

We increase our PT to $182 on higher CY30 estimates and rising confidence in the durability of growth (contracted backlog rose 77% y/y).”

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