TLDR
- PLTR stock briefly crossed $200 before sellers pushed shares lower, despite Goldman Sachs’ bullish upgrade.
- Goldman Sachs raised Palantir’s rating to Buy, setting a $230 price target amid growing AI demand.
- Palantir’s quarterly revenue surged 93% to $1.94 billion, beating Wall Street expectations.
- Strong commercial and government sales prompted Palantir to raise its 2026 revenue forecast above $8.15 billion.
- PLTR stock faces resistance near $207, while its premium valuation raises concerns about future growth expectations.
Palantir Technologies (PLTR) stock rose above $200 on Thursday after Goldman Sachs upgraded Palantir Technologies to Buy. The shares then retreated, closing at $198.78. They reached $204.44 during the session but remained below their $207.52 record. Despite that late retreat, the stock still finished 2.4% higher than Wednesday’s close.
Palantir Technologies Inc., PLTR
Goldman Sachs Raises Palantir Price Target
Goldman Sachs analyst Gabriela Borges assigned a $230 price target, about 18% above Wednesday’s closing price. The bank previously rated Palantir Neutral. The upgrade followed renewed interest in software that helps organizations use artificial intelligence.
Borges expects demand from companies and governments seeking greater control over private data. Palantir supplies tools that connect information across departments while allowing customers to build applications for specific needs. The company also works directly with clients to adapt its systems to daily business processes.
The upgrade came during a mixed week for artificial intelligence shares. A separate report on OpenAI’s annualized revenue estimates prompted selling across several technology stocks on Thursday.
Palantir Revenue Jumps as Forecast Rises
Palantir reported second-quarter revenue of $1.94 billion, up 93% from a year earlier. The result exceeded analysts’ expectations of approximately $1.81 billion. Adjusted earnings reached $0.41 per share, compared with estimates of $0.35.
U.S. commercial revenue grew 149% to $764 million. U.S. government revenue rose 90% to $809 million. Palantir also reported 220 customer deals worth at least $1 million each during the quarter.
Management raised its full-year revenue outlook to between $8.15 billion and $8.158 billion. The broader AI sector faced separate concerns after IREN shares dropped following reports of data-center outages.
PLTR Stock Faces Resistance Near Record
Despite rising sales, valuation remains a concern. Palantir trades at more than 50 times its projected 2026 revenue. Jefferies has warned that high expectations leave limited room for weaker future results. Such pricing depends on continued strong growth.
Market conditions have also shifted. Nasdaq futures rose as technology stocks recovered early Friday after Thursday’s technology selloff. Investors continued watching earnings and developments across artificial intelligence companies.
PLTR stock must move back above $200 to retest Thursday’s intraday high. The previous record near $207.52 remains another closely watched level. Goldman’s $230 target reflects its twelve-month forecast rather than a guaranteed share price.
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