Is Wall Street Bullish or Bearish on Palantir Technologies Stock?

With a market cap of around $293.1 billion, Palantir Technologies Inc. (PLTR) is a software and data analytics company that develops platforms designed to integrate, manage, and secure complex datasets across government and commercial clients. Headquartered in Aventura, Florida, Palantir has grown from its roots in government intelligence into a broader enterprise-tech play. It specializes in big‑data analytics and AI platforms (including Gotham, Foundry, Apollo, and its newer Artificial Intelligence Platform or AIP) for both government and enterprise clients.

The company stock has lagged the broader market over the past 52 weeks. PLTR has declined 22.9% over this time frame, while the broader S&P 500 Index ($SPX) has surged 16.9%. Moreover, on a year-to-date (YTD) basis, the stock is down 31.2%, compared to SPX’s 8.7% rise.

Zooming in further, PLTR has underperformed the State Street SPDR S&P Software & Services ETF’s (XSW) 4.6% slump over the past 52 weeks and 2.9% YTD.

Palantir stock has struggled throughout 2026 as investors reassessed the company’s rich valuation following its massive gains in recent years. While Palantir continues to deliver strong revenue growth, concerns that the stock’s premium multiple leaves little room for disappointment have weighed on sentiment.

Investor caution has also been driven by factors, including slower international growth, uncertainty surrounding the renewal of Palantir’s U.K. NHS contract, and the increasing difficulty of maintaining rapid growth as the company scales. The stock has seen a streak of declines this week amid possible risk reduction ahead of the upcoming earnings report.

Analysts expect the company’s EPS to come in at $0.28 for the second quarter (about to be reported on Aug. 3), a 115.4% rise year-over-year (YOY). For the current fiscal year, ending in December, analysts expect PLTR’s EPS to grow 85.7% YOY to $1.17. The company’s earnings surprise history is impressive. It exceeded the consensus estimates in each of the last four quarters. 

Among the 29 analysts covering the stock, the consensus rating is a “Moderate Buy,” which is based on 20 “Strong Buy,” seven “Hold,” one “Moderate Sell,” and one “Strong Sell” rating.  

The configuration is slightly more bullish than a month ago, when there were 19 analysts suggesting a “Strong Buy” rating.

Recently, Oppenheimer reiterated an “Outperform” rating with a price target of $200, highlighting expectations for a potential Q2 earnings beat and outlook raise.

The mean price target of $192.56 indicates a 57.5% potential upside from the current levels, while its Street-high price target of $255 suggests a 108.6% potential upside from the current levels.