Palantir (PLTR) stock rose 2% on Thursday, thanks to a vote of confidence from Goldman Sachs.
Goldman’s research team, led by Gabriela Borges, upgraded shares of Palantir to a Buy rating from Neutral, with a 12-month price target of $230. At that target, the firm sees 18% upside in Palantir’s stock from its Wednesday closing price.
“Our primary takeaway from our most recent set of industry conversations is that the stock is setting up for another phase of outperformance into 2027,” the analysts wrote.
They noted that Palantir’s total addressable market “may be setting up for another step function change in depth, because of the shift to sovereign AI, bespoke applications, and Palantir’s newer verticalization strategy.”
Palantir stock is currently trading about 3% below its $207.18 record high reached on Nov. 3 of last year.
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205.85 +7.07 (+3.56%)
As of 1:57:51 PM EDT. Market Open.
Goldman also highlighted that Palantir “perfected” the feedback loop between its field team, where engineers are deployed to customer sites to help them create custom software applications, and its product team.
More tech companies are hiring field teams, including Microsoft (MSFT), Salesforce (CRM), and Snowflake (SNOW), but the Goldman team thinks Palantir has a head start in creating AI agents to scale that function.
Adding to the boost in sentiment, veteran tech analyst Dan Ives listed Palantir among his top five tech stock picks for 2027 in a post on X on Tuesday.
“In our view, investors underestimating the scale and scope of this $4 trillion dollar spending wave next few years,” Ives wrote.
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Source: finance.yahoo.com
