Palantir in focus as Goldman Sachs upgrades on recent underperformance
JasonDoiy
- Palantir (PLTR) was in focus on Thursday as Goldman Sachs upgraded the enterprise software firm, citing recent underperformance.
- Shares rose 2.5% in premarket trading.
- “We upgrade Palantir from Neutral to Buy, with a 12-month price target of $230 (18% upside),” analyst Gabriela Borges wrote in a note to clients. “The two key debates we hear from investors at Palantir's current $8B revenue run rate and ~100% growth rate are 1) has the best part of Palantir's AI opportunity already been realized, or is the market deep enough for another set of higher revisions? And 2) how sustainable is the FDE model? 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.”
- Borges added that she believes the total addressable market may be setting up for “another step function change” in depth, due in part to sovereign AI, bespoke applications, and the company's new verticalization strategy. Additionally, the FDE model requires tight feedback loops between field and product, which the company has “perfect to the point of being able to automate via AI FDEs,” Borges explained.
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