Palantir (PLTR) Hits Record High on AI Momentum, Expanding Government Deals

June 2 - Palantir Technologies PLTR reached a new all-time high on Monday morning, climbing to $133.55 as investor interest continued to build around the company's expanding role in artificial intelligence and government contracts.

The stock has surged about 512% over the past year, lifting the company's market value to roughly $311 billion.

Analysts pointed to strong Q1 performance and increasing traction in U.S. commercial operations. Cantor Fitzgerald and UBS both raised their price targets to $110 while maintaining Neutral ratings. UBS flagged 71% growth in Palantir's U.S. commercial revenue. Wedbush Securities reiterated an Outperform rating with a $140 target, citing confidence in the company's ability to win more government work.

Recently, Palantir also announced a partnership with Ecuador to support digital modernization and reduce illicit trade activity, expanding its international footprint.

The stock's rally reflects growing optimism around Palantir's positioning in a data-driven economy and its efforts to strengthen its presence across both public and private sectors.

Is PLTR a Buy Now?

Based on the one year price targets offered by 20 analysts, the average target price for Palantir Technologies Inc is $101.21 with a high estimate of $150.00 and a low estimate of $40.00. The average target implies a downside of -22.27% from the current price of $130.21.