UBS Lowers Palantir Price Target to $180
UBS analyst Karl Keirstead lowered the price target on Palantir (NASDAQ: PLTR) to $180.00 (from $205.00) while maintaining a Neutral rating.
“We find it challenging to even find a flaw in this print (new customer growth slowed but that’s not a key KPI for Palantir).
The numbers are astounding – 70% total revs growth, US commercial revs growth of 137% at a $2+ billion scale, US government (mostly DoD) growth of 66% despite all the cost-cutting pressures, 57% operating margins (41% GAAP margins) and guidance for 61% revs growth (we were modeling 47%) and 57% margins for 2026.
The company signaled no change in the degree of conservatism in the 2026 guide (note the initial 2025 guide was for 31% growth and they posted 56%) and Palantir cited high forward visibility (backlog strength, pipeline).
Net, we’re raising our 2026 revs growth estimate from 47% to 70%.
No other public software company has financials close to that of Palantir (privately-held Databricks might be the closest in terms of growth rate apart from OpenAI and Anthropic), in our view.”
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