Palantir Technologies IncNasdaq: PLTR
Information Technology · Application Software
$126.19
-3.40%
Vol: 21.5M
Research Digest
Thursday, June 18, 2026
Wolfe Research upgrades Palantir to Peer Perform as Q1 revenue surges 85% YoY and Google Cloud partnership expands AI reach.
Palantir reported Q1 2026 revenue of $1.63 billion, up 84.71% year-over-year, with adjusted EPS of $0.33 beating the $0.27 consensus, and raised full-year 2026 revenue guidance to $7.65-$7.66 billion (approximately 71% YoY growth). On June 4, Palantir hosted AIPCon 10 and announced a major multi-tiered partnership with Google Cloud including two-way data federation between BigQuery and Foundry and deep Gemini-AIP connectivity, extending its enterprise AI footprint. Wolfe Research upgraded PLTR to Peer Perform from Underperform on June 17. The stock trades around $132.05 (market cap ~$313 billion, P/E ~150x) with an analyst consensus Buy rating and average 12-month price target of $182.75. Governance headwinds remain after shareholders rejected proposals on political spending disclosure at the annual meeting in early June.
Previous Market Intelligence
13 daysJun 17Wolfe Research upgraded Palantir to Peer Perform from Underperform, resuming coverage after a roughly 26% year-to-date selloff.Mixed▶
Wolfe Research upgraded Palantir to Peer Perform from Underperform as it resumed coverage, removing a notable bearish call though offering no price target amid the stock's roughly 26% decline in 2026. The upgrade follows a volatile stretch: PLTR fell about 3% on June 12 after a blocked GBP 50 million UK Metropolitan Police contract and renewed scrutiny of an NHS deal, then rebounded about 5% on June 15. Fundamentals remain strong, with Q1 2026 revenue of $1.63 billion, adjusted EPS of $0.33 beating the $0.27 consensus, and full-year guidance raised to $7.65-$7.66 billion (~71% YoY growth). The bull case is accelerating enterprise AI adoption and defense demand tied to US-Iran tensions; the bear case is rich valuation, governance criticism after shareholders rejected political-spending and human-rights disclosure proposals, and headline risk from contested government contracts in the UK.
Jun 16Wolfe Research upgraded Palantir to Peer Perform from Underperform on June 16, calling it the best product-market fit in enterprise software, marking a notable bear-to-neutral shift after the stock's 2026 selloff.Mixed▶
On June 16, 2026, Wolfe Research analyst Alex Zukin upgraded Palantir from Underperform to Peer Perform, saying the firm now views the company as 'too big to ignore' and possessing 'the best product market fit of any enterprise software company in the market today.' Wolfe's base case projects a 39% revenue CAGR for FY2026-2029, rising to 55% in its upside model, though it declined to set a 12-month price target. The upgrade is significant because it removes one of the more prominent bearish ratings following a sharp pullback—PLTR is down roughly 30% in 2026 and fell about 13% in five sessions in early June after Michael Burry flagged a head-and-shoulders pattern. Fundamentals remain strong, with Q1 2026 revenue of $1.6B, up about 85% year over year, on continued AI deployment wins. Key risks cited include intensifying competition in AI software, lower barriers to entry pressuring pricing power and margins, a stretched valuation, and heavy insider selling (112 sales and 0 purchases over six months).
Jun 15No significant overnight updatesNeutral▶
No material news in the last 48 hours. Recent analyst actions (UBS, Rosenblatt, Loop Capital, HSBC) are dated June 2-7, outside the 48-hour window.
Jun 14No significant overnight updatesNeutral▶
No material news in the last 48 hours.
May 21Palantir shares continue to slide despite Q1 2026 revenue +85% YoY and 10-point full-year guidance raise; stock at $130 is -26% YTD on valuation compression.Mixed▶
Palantir's stock paradox continues: Q1 2026 (May 4) delivered $1.633B revenue (+85% YoY, fastest growth since IPO) and adjusted EPS of $0.33 vs $0.28 expected. U.S. commercial revenue surged 133% to $595M. Management raised FY26 guidance to $7.65-7.66B (a 10-point raise, biggest ever). Yet PLTR trades at $130.05 (May 13), -26% YTD and well below $207.52 52-week high, due to valuation compression from 97x forward P/E. May 20 commentary suggests continued slide. UK trust eroding over military-tied 22-point manifesto, threatening a 6-year ~£400M NHS relationship. Global Branching feature went generally available week of May 18. Average PT $152.34 (~17% upside).
May 20Palantir lands three-year Cleveland-Cliffs AI deal and joins US Army 'Right to Integrate' hackathon as commercial and defense pipeline widens.Mixed▶
Palantir signed a three-year agreement with Cleveland-Cliffs to deploy its AI platform in steel production, a notable commercial win extending its industrial footprint. It also confirmed participation in the U.S. Army's 'Right to Integrate' hackathon series, reinforcing defense-tech positioning. Separately, reporting indicated ICE agents now have access to Palantir-built tooling listing roughly 20 million people on iPhones, drawing fresh privacy scrutiny that could become a political/headline risk. The stock remains volatile, having gained about 2,350% over the prior 2.5 years before falling more than 35% from its peak. 2026 full-year guidance calls for $7.66B in revenue (+71% YoY), an acceleration vs 56% in 2025. Average Street price target sits near $188, implying ~40% upside.
May 19Palantir trades at $133 down 26% YTD despite 85% Q1 revenue growth and raised full-year guidanceMixed▶
Palantir shares are down 26% year-to-date at $133.71 as of May 15, even after delivering Q1 2026 revenue of $1.63 billion (up 85% YoY) and raising 2026 guidance by 10 points to $7.65-$7.66 billion. US commercial revenue grew 133% and US government revenue grew 84%, with the Rule of 40 score hitting 145%. However, the 97x forward P/E valuation has triggered sustained selling pressure. Citi raised its PT to $225 from $210 and Argus upgraded to Buy from Hold. Palantir also faces rising ESG/governance scrutiny ahead of its annual meeting, with a shareholder proposal for a Human Rights Impact Assessment. Risk: extreme valuation multiple leaves little room for execution slippage.
May 18Palantir shares fell 4.2% on May 17 as hot April PPI pushed 10-year yields to 4.49%, erasing 2026 rate-cut hopes and compressing the stock's premium multiple.Negative▶
Palantir Technologies dropped 4.2% during May 17 trading after the April Producer Price Index came in hot, sending the 10-year Treasury yield to a ten-month high of 4.49% and effectively pricing out 2026 Fed rate cuts. The selloff hit long-duration growth names hardest given Palantir's forward P/S near 40x. Fundamentally, the company remains strong: Q1 2026 revenue rose 85% to $1.633B with US commercial growth of 133%, and management raised FY26 guidance to $7.66B (71% growth). Despite the operational beat, PLTR is down ~23% YTD at $129.52, ~37% below its November 2025 high. Citi raised its price target to $225 and Argus upgraded to Buy. Risk: any further bond yield spike or AI-narrative cooling could trigger more valuation compression.
May 15Palantir delivers fastest growth in public history with 85% Q1 revenue jump and raised FY26 guidanceMixed▶
Palantir reported Q1 2026 results on May 4 with adjusted EPS of $0.33 vs $0.28 expected and revenue of $1.63B vs $1.54B expected, growing 85% YoY in the fastest sales increase since its 2020 IPO. Net income roughly quadrupled to $870.5M ($0.34/share) from $214M ($0.08) a year earlier. The company raised FY2026 revenue guidance to $7.66B from $7.19B (71% YoY growth), with US government revenue up 84% and remaining deal value up 98% to $11.8B. CEO Alex Karp told shareholders results "dwarf essentially every software company in history at this scale." Stock fell 5.7% in after-hours despite beat and is down ~26% YTD on valuation concerns. Risk: high multiples leave little room for execution slip.
May 14Palantir shares slid on May 13 amid stretched valuation concerns while UK NHS publicly weighed a 2027 break point on its 330M pound Federated Data Platform contract.Negative▶
On May 13, 2026, Palantir stock fell as growth-at-any-price valuation concerns reasserted themselves, with the stock down ~26% YTD and trading at ~155x trailing / ~97x forward earnings. Adding pressure, Al Jazeera reported on May 12 that the UK is openly considering a 2027 break point on Palantir's 330M pound (~$450M) NHS Federated Data Platform contract amid mounting governance and 'security risk' concerns. Earlier in May, SAP and Palantir announced expanded partnership at SAP Sapphire focused on AI-supported data migration tooling. Q1 2026 (reported May 4) was a beat: revenue +85% YoY to $1.633B, US commercial +133%, full-year guide raised to $7.66B (+71%). Risk: even with record growth, the UK contract review and high multiple leave the stock vulnerable to multiple compression.
May 13Palantir Q1 revenue grows 85% YoY to $1.63B and raises full-year guidance to $7.66B; stock downgraded to Sell Candidate after May 12 session.Mixed▶
Palantir reported Q1 2026 results on May 4 that crushed expectations: adjusted EPS of $0.33 vs $0.28 expected, revenue of $1.63B vs $1.54B expected. The company posted 85% year-over-year revenue growth, the fastest in its life as a public company. Palantir raised 2026 revenue guidance to $7.66B from $7.19B prior, pointing to 71% growth. Remaining deal value (RDV) jumped 98% YoY to $11.8B on larger contract wins. However, the stock was downgraded from Hold/Accumulate to Sell Candidate after the May 12 session by stockinvest.us on valuation concerns. PLTR traded at $135.55 on May 13 (down from a 52-week high of $207.52).
May 12Palantir shares slid ~5.7% after Q1 2026 results showed 85% revenue growth to $1.63B and raised FY guidance to $7.66B, as valuation at ~155x trailing earnings spooked investors.Mixed▶
Palantir reported Q1 2026 on May 4 with revenue of $1.63B (+85% YoY, fastest growth since 2020) and adjusted EPS of $0.33 (more than 2.5x year-ago). Remaining deal value jumped 98% YoY to $11.8B. Management raised full-year 2026 revenue guidance to $7.66B from $7.19B (+71% YoY), with US commercial revenue expected to grow 120%+ to over $3.224B. Despite the beat, shares fell 5.66% after-hours to $135.91 on valuation concerns (155x trailing, 97x forward earnings). UK officials are openly considering a 2027 break point for the 330M-pound NHS Federated Data Platform contract, adding governance overhang. Stock traded near $135.22 on May 11.
May 11Palantir Q1 revenue grew 85% to $1.63B, raised FY26 guidance to $7.65B-$7.66B, but shares fell 5.7% after-hours on valuation concernsMixed▶
Palantir reported Q1 2026 revenue of $1.63B vs $1.54B expected and EPS of $0.33 vs $0.28 expected. Revenue grew 85%, the fastest pace since IPO, with US government revenue up 84%. Net income roughly quadrupled to $870.5M. Rule of 40 hit 145%. The company raised FY26 revenue guidance to $7.65B-$7.66B (71% growth) versus $7.27B consensus and guided Q2 to $1.8B vs $1.68B consensus. Despite the beat, shares dropped 5.66% in after-hours to $135.91 as investors balked at valuation.
Sector Peers
| Company | Price | Day | 1M | Fwd P/E | Beta | Mkt Cap |
|---|---|---|---|---|---|---|
| ORCLORACLE | $183.36 | -0.10% | +1.1% | 16.8x | 1.66 | $527.8B |
| PLTRPALANTIR | $126.19 | -3.40% | -3.4% | 62.8x | 1.51 | $313.2B |
| APPAPPLOVIN | $464.52 | -3.12% | +0.5% | 21.9x | 2.46 | $161.1B |
| CRMSALESFORCE | $151.51 | -2.26% | -13.6% | 10.0x | 1.15 | $127.0B |
| CDNSCADENCE | $389.78 | +0.04% | +15.2% | 41.5x | 1.15 | $107.5B |
| SNPSSYNOPSYS | $456.57 | -1.12% | -6.5% | 26.8x | 1.21 | $88.4B |
Key Fundamentals
RSI (14-Day)
52-Week Range
Moving Averages
Price below 200d MA — bearish structure.