TLDR
PLTR stock rebounded 4.36% Monday after losing 7.22% during Friday’s software sector selloff.
Palantir partnered with Knox Systems to expand software deployment across secure U.S. government cloud environments.
Mizuho raised its Palantir price target to $245, while Baird increased its target to $250.
Palantir reported 93% annual revenue growth in the second quarter and expects approximately $8.15 billion in 2026 revenue.
Investors await November 2 earnings, with $200.50 and $212.94 serving as key resistance levels.
Palantir Technologies ( NASDAQ: PLTR ) traded near $192.95 in Tuesday premarket action, down 0.62%. PLTR stock had gained 4.36% Monday to close at $194.15, recovering from Friday’s 7.22% decline. Shares remained below their October 12 high of $212.94.
Palantir Technologies Inc., PLTR
AI Financing Concerns Hit Software Shares
Friday’s decline took Palantir to $186.03 after the stock touched $184.45 during trading. The selloff hit software companies as investors questioned borrowing costs and returns from artificial intelligence spending.
ServiceNow lost around 5%, Salesforce fell roughly 4%, and the Nasdaq dropped about 2%. Concerns extended to AI infrastructure companies, where CoreWeave’s debt and financing costs attracted attention. The decline coincided with broader market weakness.
PLTR Stock Rebounds After Knox Partnership
Palantir and Knox Systems announced a partnership Monday to help technology providers reach federal and defense customers. The agreement covers cloud environments that must meet FedRAMP security requirements and Impact Level 5 standards.
Knox supports more than 100 AI and enterprise applications. It says its process can secure FedRAMP authorization in 90 days or less. The companies did not disclose contract values or expected sales from their agreement.
Analysts Raise Targets Despite Valuation Questions
Mizuho raised its Palantir price target from $215 to $245 on October 15, retaining an Outperform rating. Baird increased its target to $250, while Goldman Sachs upgraded the shares to Buy with a $230 target. Phillip Securities cut its rating to Hold.
The mixed views follow renewed interest in enterprise AI products. A recent Salesforce update on its UK agreement and AI sales tools shows continued commercial activity across the software market. Palantir trades near 166 times trailing earnings.
Earnings Date and Key Price Levels
Palantir reported second-quarter revenue of $1.94 billion, up 93% annually, and adjusted earnings of $0.41 per share. Management expects between $8.150 billion and $8.158 billion in annual revenue. The company will report third-quarter results on November 2 after markets close.
Investors will compare its results with spending trends at other technology companies. Meta’s AI investment plans are another focus ahead of its October 21 report. Government contracts and software demand remain important measures for Palantir. Technically, Friday’s $184.45 low and the 50-day moving average near $182 offer nearby support. PLTR stock faces resistance at $200.50, then $212.94.
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