Piper Sandler Reiterates Overweight on Palantir, $230 Price Target

Piper Sandler analyst Clark Jeffries reiterated an Overweight rating and $230.00 price target on Palantir (NASDAQ: PLTR).

“The U.S. Gov. business reached new heights this Q as expediting warfighter capabilities resulted in growth accelerating 18pts q/q to 84% y/y growth.

Led by expansion of Maven (2x usage over the last four months) but also surging activity related to Warp Speed, US Government was the primary source of the +10pt raise in FY26 growth expectations, with US Commercial contributing +$80M or +180bps.

While there was some modest benefit from the reclassification of a customer from Commercial to Government based on the graduation of that company’s activities to a government-funded program, Palantir continues to have exceptional exposure to high-impact US Gov. programs and would still have accelerated regardless.

With still unparalleled fundamentals: 85% growth + 60% EBIT margins = Rule of 40 score of 145%”

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