Palantir Technologies (NASDAQ: PLTR) stock advanced 2.39% to $198.76 in Thursday premarket trading following an analyst upgrade and bullish price target from Goldman Sachs.
Goldman Sachs analyst Gabriela Borges upgraded Palantir to Buy from Neutral and set a $230 price target, marking a shift from the firm's Neutral rating issued less than two weeks earlier with a $204 target. The new target stands approximately 18.5% above Palantir's Wednesday closing price of $194.12.
Goldman cited Palantir's approximately $8 billion revenue run rate and nearly 100% revenue growth rate in its assessment. The firm identified opportunities in sovereign AI, customized applications, and industry-specific uses as factors that could expand Palantir's market opportunity through 2027.
Recent results support the analyst optimism. In the second quarter, Palantir reported $1.935 billion in revenue, up 93% year-over-year, while U.S. commercial revenue increased 149% to $764 million and U.S. government revenue grew 90% to $809 million. The company raised its 2026 revenue guidance to between $8.150 billion and $8.158 billion.
Goldman's upgrade follows analyst Dan Ives's initiation of Palantir coverage on Wednesday with an Outperform rating and a $250 price target, approximately 28.8% above Wednesday's close. Ives emphasized Palantir's ability to convert enterprise AI projects into operating systems used by customers, citing demonstrations at the company's AIPCon 10 conference and its practice of assigning engineers to work directly with customers.
Palantir CEO Alex Karp is scheduled to appear Thursday at Zeta Live 2026 in New York to discuss data sovereignty and enterprise AI alongside Zeta Global CEO David A. Steinberg. The appearance follows the companies' June partnership, under which Zeta is restructuring its Data Cloud platform using Palantir Foundry.
