DA Davidson Lowers Palantir Price Target to $165
DA Davidson analyst Gil Luria lowered the price target on Palantir (NASDAQ: PLTR) to $165.00 (from $180.00) while maintaining a Neutral rating.
“Palantir continues to deliver unprecedented results with a record revenue beat of ~$98M in the quarter, compared to its TTM average of $66M, with revenue growth accelerating further to 85% Y/Y, compared to 70% last quarter.
Palantir’s US business continues to power results landing 44 of the 53 new customers in the quarter.
US commercial revenue again drove triple digit growth of 133% Y/Y which would have accelerated growth further to 143% Y/Y after adjusting for a commercial customer who turned into a government customer.
Helping drive this acceleration is dramatic increases in token demand as cost per token decreases and PLTR’s platform drives use cases at scale.
Overall, Palantir is executing well and continuing to invest further in its leading platform becoming a quintessential AI company.
We believe Palantir is the best story in all of software.
We have raised our estimates and remain positive on the company overall.
Palantir scores in the top decile of our coverage on Rule of X.
The stock trades at ~50x CY26 revenue, an unprecedented premium to any peer, which is the only reason we maintain our NEUTRAL rating and adjust our price target to $165, from $180, based on ~57x CY26 revenue.”
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