Truist Raises Palantir Price Target to $250

Truist Securities analyst Arvind Ramnani raised the price target on Palantir (NASDAQ: PLTR) to $250 (from $233) while maintaining a Buy rating.

“We are raising our 2026E revenue growth estimate to 91% y/y, up from 82.5%, just above the high end of guidance. Our non-GAAP operating margin estimate also increases to 61.6% from 60.9%.

For 2027E, our growth estimate increases to 58.1% y/y from 55.0%, while our op. margin estimate increases to 63.5% from 62.0%.

We are moving our valuation methodology to a 2028E EV/ FCF multiple of 51x our estimate, and raising our PT to $250. This implies 32x our 2028E revenue estimate.

We believe Palantir continues to represent one of the clearest data point on AI value creation at the application layer in the public markets.

Palantir’s revenue growth has accelerated 13 quarters in a row since 2Q23 (AIP was released in April 2023) – and Palantir grew 96% y/y during 3Q26 despite scaling to now a ~$9.2B annual revenue run rate.

On top of this, the company is nearly doubling y/y despite reducing its sales headcount and has expanded operating margins by 37% during this time to 62%.

With both growth and margins now at industry-best levels for multiple quarters in a row, we believe Palantir’s unique combination of technical talent (FDEs, deployment), a model-agnostic application and governance layer (AIP), and enterprise operating systems (Foundry, Gotham) have positioned the company ideally for current AI tailwinds.

The company’s unique offerings that were once criticized years ago are now competitive advantages and a blueprint for the AI industry, in our view.”

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