Rosenblatt Raises Palantir Price Target to $260

Rosenblatt analyst John McPeake raised the price target on Palantir (NASDAQ: PLTR) to $260 while maintaining a Buy rating.

“Palantir is scheduled to report their results on November 10th after the close.

Our checks and proprietary analysis of their customer base point to another beat and raise in 3Q–our conviction is reflected in our above consensus estimates.

Over the medium- to long-term, we think the move towards enterprise AI deployments at scale should allow them to both add significant new logos and continue their unmatched net revenue retention rate.

We think the total global TAM for Palantir is more than an order of magnitude larger than our Street-high 2027 revenue estimate of $14.6B.

In our view, Palantir is the only commercial software package addressing this market, as evidenced by their 93% Y/Y rev growth and 88% gross, 61% EBIT, and 50% FCF margins.

A computer operating system “controls the operation of a computer and directs the processing of programs,” we think Palantir’s de facto enterprise operating system “controls the operations of an enterprise and directs the processing of tribal knowledge” (A nod to Dr.

Karp). The question in that light becomes what organization does not need an enterprise operating system?

We are rolling our valuation year period out by one quarter, which raises our target to $260, still 60x NTM EPS out one year (now 4Q27 to 3Q28) and reiterating our Buy rating on PLTR.”

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