Palantir (PLTR) stock rose 5% on Friday, thanks to votes of confidence from Barclays and Goldman Sachs.
On Friday, Barclays initiated coverage of Palantir stock with an overweight rating and a $265 price target. The company said Palantir and SpaceX (SPCX) “have deep competitive moats that enable unprecedented levels of growth and margins.”
The call came a day after Goldman’s research team, led by Gabriela Borges, upgraded Palantir’s shares to a buy rating from neutral, with a 12-month price target of $230. To that end, 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.
209.05 +10.27 (+5.17%)
Closing: October 9 at 4:00 p.m. EDT
208.65 -0.40 (-0.19%)
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 surpassed its record high set on November 3 of last year, closing at $208.88.
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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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