Cantor Fitzgerald Reiterates Neutral on Palantir, $138 Price Target

Cantor Fitzgerald analyst Thomas Blakey reiterated a Neutral rating and $138.00 price target on Palantir (NASDAQ: PLTR).

“Palantir reported another strong quarter with upside driven by accelerating U.S. demand, continued AIP adoption, and continued operating leverage…Management again raised guidance, including CY26 revenue by $466M and U.S.

Commercial revenue to >$3.224B, reflecting confidence in sustained demand despite the segment-level optics of the customer transition.

AIP momentum continues to broaden across both commercial and government use cases, with management highlighting Maven usage up 4x over the past year.

While margins expanded sharply in the quarter, with adjusted EBIT margin reaching ~60%, we expect some moderation from 1Q26 levels as management ramps investment in product and technical talent through the remainder of CY26.

We reiterate Palantir remains a leading beneficiary of secular AI growth trends with its industry leading data analytics platform and FDEs producing dynamic, accelerating growth in U.S.

We reiterate our $138 PT and Neutral rating as we increase our C26/C27 topline/FCF forecasts but trim PLTR multiple in line with overall broader trends seen across software ($138 PT 32x C27E rev, 60x CY27E FCF, growing ~40%).”

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