Piper Sandler Reiterates Overweight on Palantir, $230 PT
Piper Sandler analyst Clark Jeffries reiterated an Overweight rating and $230 price target on Palantir (NASDAQ: PLTR).
“U.S. Commercial Reaccelerates to 149% Growth, FY26E Now Calls for 82% Growth; Total revenue growth reached 93% this quarter as U.S. Commercial reaccelerated to 149% y/y growth vs.
133% last quarter, growing $169M sequentially, the highest quarterly increase we have ever seen in any business segment.
Next quarter could present the crossover point, where Commercial exceeds Government for the first time. If not by Q3, then by Q4, with U.S. Commercial revenue now expected to grow 134% in FY26E.
With aggregate FY26E revenue growth being raised to 82% y/y, we think it is worth reflecting on the fact that over the past six months FY26 growth assumptions have risen 21 pts. or $965M (from 61% entering the year to 82% today).
With only $280M of that YTD increase coming from U.S. Commercial, we think Palantir growth is much more diversified than commonly appreciated.
We remain very bullish on Palantir growth prospects across both Government and Commercial and reiterate our Overweight rating and $230 PT.”
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