Palantir Grew Revenue 96% and the Stock Still Fell. Here’s Where the Price Target Goes Vandita Jadeja Fri, November 6, 2026 at 11:03 AM EST 6 min read PLTR +4.25% NVDA +4.13% SNOW +1.60% Explore stocks on Coinbase Trading disclosure Trading disclosure The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational.
PLTR posted 96% revenue growth and beat estimates, yet the stock fell 14% in a week as total contract value rose just 6%.
NVDA grows revenue at a similar 106% pace but trades at just 41x trailing earnings versus Palantir's demanding 253x multiple.
Net dollar retention of 165% signals existing customers are expanding fast, supporting the $209.79 BUY target with 18% upside.
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Palantir Technologies (NASDAQ:PLTR) just reported the fastest growth in its history as a public company, and the stock still dropped. The 24/7 Wall St. price target for Palantir is $209.79, which implies 17.63% upside from the $178.34 close. The model rates the stock a buy with high confidence.
The selling hasn't stopped. In premarket trading Palantir was at $169.99, down another 4.68%, so the gap between the stock and our target has grown. Analysts remain positive: 65% rate the stock bullish and 6% bearish, and the consensus target is $212.50.
Third-quarter revenue came in at $2.313 billion, ahead of the $2.181 billion estimate and up 95.87% year over year. Adjusted EPS of $0.44 beat the $0.4072 consensus.
U.S. commercial revenue reached $984 million (up 148%) and passed U.S. government revenue for the first time. Management raised full-year guidance to $8.530 billion to $8.534 billion.
Investors focused on bookings. Total contract value rose only 6%, remaining performance obligations were flat sequentially at $4.9 billion, and several eight-figure deals were shorter in duration than usual.
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The stock is down 14.51% over the past week and 4.37% year to date. Its 52-week range runs from $106.37 to $212.94. Morningstar still raised its fair value estimate after the report.
Net dollar retention rose to 165%. Total remaining deal value grew 55% to $13.4 billion. Trials are becoming into large contracts: one athletic company went from a $1.6 million pilot to a $21 million ACV deal.
The adjusted operating margin was 62%, and full-year adjusted free cash flow guidance is $4.8 billion to $5.0 billion. CEO Alex Karp said "the market for us is insatiable." The upside case is $225.56.
Barclays raised the firm's price target on Palantir to $273 from $265 and keeps an Overweight rating on the shares post the Q3 report.
Our bear case is $175.57. The trailing P/E is about 253x. Stock-based compensation reached $318.9 million, up from $172.3 million a year earlier. Receivables rose to $1.883 billion. Government contracts can also be terminated for convenience. Each of these has a counterpoint.
Management says the shorter contracts are built to "expand that contract dramatically," GAAP net income was still $1.128 billion after stock comp, and receivables rose as revenue nearly doubled.
Also a Palantir customer, NVIDIA (NASDAQ:NVDA) is exposed to the same AI spending cycle. Its revenue grew 105.85%, and it trades at about 41x trailing earnings. That is similar growth at a far lower multiple.
Snowflake (NYSE:SNOW) competes for enterprise data and AI budgets. Its revenue grew 35.09%, it still reports GAAP losses, and it trades near 91x free cash flow. Palantir's premium is steep. Our target leans on forward earnings rather than trailing multiples, so it looks reasonable but demanding.
The 24/7 Wall St. price target of $209.79 carries a buy rating with high confidence. The deciding factor for me is the 165% net dollar retention, because it shows existing customers expanding faster than bookings suggest.
I'd lean bullish if the shorter contracts grow into longer and larger renewals over the next two quarters. A shift to caution would be warranted if total contract value growth stays in the single digits. For now, I think the business has more momentum than the stock shows.
Over a longer term, here is where our model projects Palantir could trade, if its current growth trend and market conditions hold.
These projections if Palantir keeps executing on its Sovereign AI strategy. Faster conversion of trials into larger deals would push results toward the upside, while multiple compression or a slowdown in bookings would pull them down.
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