Goldman Sachs Reaffirms ‘Neutral’ Rating on Palantir

Goldman Sachs analyst Gabriela Borges raised the price target on Palantir Technologies  to $141 (from $90), while maintaining a ‘Neutral’ rating.

“Palantir’s commentary and results increasingly demonstrate that the enterprise ecosystem is engaging with Palantir with meaningful share of wallet as a proven way of executing AI strategy.Consistent with many of our investor conversations, we struggle to reconcile

a) the fundamental bull case of being in the early stages of a custom AI software era (our tech deep dive is linked here); with

b) our concern that we are at peak bespoke build (as other parts of the AI ecosystem like SaaS incumbents, AI natives and system integrators will likely mature); and

c) a valuation approach that takes into account upside at 80x EV/Sales (vs. 20%+ growth peers at 8x on 2026) and >150x EV/FCF (vs. peers at 40x on 2026).

We maintain a Neutral rating on the stock and raise our PT to $141.”

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