RBC Capital Reiterates Underperform on Palantir, $50 Price Target

RBC Capital analyst Rishi Jaluria reiterated an Underperform rating and $50.00 price target on Palantir (NASDAQ: PLTR).

“In this note, we provide our thoughts into earnings based on our government spending tracker, checks, investor conversations, and retail themes.

We flag three themes: 1) our government data tracker points to a decline in QCV and net new ACV, while geopolitical instability could support longer demand; 2) skepticism around the durability of Commercial momentum, with recent checks suggesting customers are reassessing or moving off PLTR; and 3) a self-fulfilling prophecy risk, where Commercial momentum could persist despite durability concerns.

We view the risk/reward skewed to the downside. We also introduce our CY27 estimates.”

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