Palantir Technologies Inc. (PLTR) PT Raised to $182 at Piper Sandler

Piper Sandler analyst Brent Bracelin raised the price target on Palantir Technologies Inc. (NASDAQ: PLTR) to $182.00 (from $170.00) while maintaining a Overweight rating.

The analyst comments "Robust Q2 demand across both government and U.S. commercial were supportive of the intermediate-term bull-case scenario on PLTR (30-35%+ CAGR), punctuated by the biggest absolute dollar beat ever ($68M above mid-point guide) with top-line growth accelerating for the 8th straight quarter to 48% (vs. 39% prior). The 10-year $10B Army Deal strengthens the case for further government share gains within the large $1T+ Defense TAM while 93% y/y growth (vs. 71% prior) in U.S. commercial reinforces an untapped AI platform opportunity for large enterprise customers. While PLTR carries a rich valuation premium and remains a high-risk investment, the one-of-a-kind growth+margin model puts it into a unique category of one that warrants a premium, in our view. We increase our PT to $182 on higher CY30 estimates and rising confidence in the durability of growth (contracted backlog rose 77% y/y)."

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