Piper Sandler Raises Palantir Price Target to $235

Piper Sandler analyst Clark Jeffries raised the price target on Palantir (NASDAQ: PLTR) to $235 (from $231) while maintaining an Overweight rating.

“US Commercial revenue surpassed USG for the first time on a quarterly basis; with US Comm. now at a $3.94B run-rate growing 148% y/y.

This caps an eleven-year journey where Palantir’s strong but niche story in Defense and Intelligence expanded with Foundry and ultimately AIP to capture meaningful share in the Enterprise AI zeitgeist.

While total revenue growth once again improved to 96% this quarter, investors will no doubt be looking for evidence in subsequent quarters that 11% growth in US Commercial TCV Bookings is a fluke of duration and not something structural.

We believe that is the case and demand for PLTR’s solutions still very much outstrip supply. We remain bullish on Palantir’s prospects across both USG and US Commercial.

Reiterate our Overweight rating and raise our PT to $235.”

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