Wedbush Maintains Outperform on Palantir, $230 Price Target

Wedbush analyst Dan Ives reiterated an Outperform rating and $230.00 price target on Palantir (NASDAQ: PLTR).

“The company beat the Street across all FY2Q26 metrics while raising its FY26 guidance across the board (yet again) including commentary around FY27 US commercial growth as the company continues to capitalize on elevated demand for its AI capabilities while focused on driving leverage into its business to drive further profitable growth.

FY26 revenue is expected to be in the range of $7.650 billion to $7.662 billion (prior guidance of $7.182 billion to $7.198 billion) vs. the Street’s $7.240 billion with US commercial expected to grow 120% y/y (prior guidance of at least 115% y/y) as AIP continues to capture greater spending across new and existing enterprises.

We note that Karp stated that he expects PLTR to grow revenue in US Commercial 100% y/y in FY27 pointing to the long-term opportunity the company is seeing with commercial customers lining up at PLTR’s door to tap into the most advanced AI products on the market.

FY26 adj. operating income is now expected to be in the range of $4.440 billion to $4.452 billion (prior guidance of $4.126 billion to $4.142 billion) while FY26 FCF is expected to be in the range of $4.200 billion to $4.400 billion (prior guidance of $3.925 billion to $4.125 billion) as PLTR continues to put up strong revenue metrics while maintaining a lower employee headcount.

Palantir remains one of our top tech names to own in 2026 and this quarter represents yet another validation moment for PLTR by continuously generating unprecedented traction for across the federal and commercial landscapes.”

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