Rosenblatt Securities raised its Palantir price target to $260 from $225 while keeping a Buy rating, setting the brokerage's latest view ahead of the software company's Nov. 2 quarterly report.
In a note Monday, Oct. 26, analyst John McPeake said Rosenblatt's checks pointed to continued growth. He said wider AI use at large companies could bring Palantir more customers and help it maintain revenue from existing customers.
Palantir's June-quarter revenue came to $1.935 billion, 93% higher than a year earlier. The company projected third-quarter revenue of $2.160 billion to $2.164 billion.
Rosenblatt's move follows target increases earlier in October from Mizuho and Baird. Mizuho's Gregg Moskowitz raised his target to $245 from $215 on Oct. 15, while Baird's William Power set a $250 target, up from $200, on Oct. 12, EconoTimes previously reported.
Palantir set Nov. 2, after the U.S. market close, for its results release and scheduled a webcast for 5 p.m. ET (22:00 UTC). The report follows Microsoft and Alphabet results scheduled for Wednesday, Oct. 28, placing all three technology-company releases within six days, as EconoTimes noted in its earnings calendar coverage.
