Palantir stock nears record high after Goldman Sachs upgrade highlights next phase of growth
Palantir (PLTR) stock rose 2% on Thursday, thanks to a vote of confidence from Goldman Sachs.
Goldman’s research team, led by Gabriela Borges, upgraded Palantir shares from neutral to a buy rating, with a 12-month price target of $230. At that target, the company expects Palantir stock to rise 18% from its Wednesday closing price.
“Our main takeaway from our most recent conversations with the industry is that the stock is preparing for a new phase of outperformance through 2027,” the analysts wrote.
They noted that Palantir’s total addressable market “could be preparing for another sweeping function shift, driven by the shift to sovereign AI, tailored applications, and Palantir’s new verticalization strategy.”
Palantir stock is currently trading about 3% below its record high of $207.18 reached on November 3 of last year.
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198.78 +4.66 (+2.40%)
Closing: October 8 at 4:00:01 p.m. EDT
Goldman also highlighted that Palantir has “perfected” the feedback loop between its field team, where engineers are deployed to customer sites to help them build custom software applications, and its product team.
More tech companies are hiring field teams, including Microsoft (MSFT), Salesforce (CRM), and Snowflake (SNOW), but Goldman’s team believes Palantir has a head start in creating AI agents to scale this function.
Adding to the sentiment, veteran tech analyst Dan Ives listed Palantir among his top five tech stock picks for 2027 in an article on X on Tuesday.
“In our view, investors are underestimating the scale and scope of this $4 trillion spending spree in the coming years,” Ives wrote.
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