Palantir (PLTR) Stock Soars 366.7% in 2024: Analyst Ratings and Price Targets Show Mixed Sentiment

Palantir Technologies Inc. (PLTR), the innovative software company headquartered in Denver, Colorado, has had an impressive year, outperforming the broader market and several industry-focused benchmarks. Known for its software platforms that aid intelligence operations and counterterrorism efforts, Palantir’s stock has seen explosive growth, rising 366.7% over the past 52 weeks. This surge vastly outpaces the S&P 500 Index’s 22.6% gains and the SPDR S&P Software & Services ETF’s 26.6% returns during the same period.

Palantir’s Stellar Performance and Revenue Growth

In the first quarter of 2025, Palantir continues to ride high, posting a 5.5% surge in stock value, far exceeding the S&P 500’s 2.7% growth. The company’s impressive performance has been driven by strong momentum in its core business, highlighted by its Q3 2024 earnings report, which showed a 30% year-over-year revenue growth to $725.5 million. This figure significantly exceeded analysts’ expectations of $703.7 million. Additionally, Palantir’s adjusted EPS grew by 42.9% year-over-year, beating the consensus by 11.1%.

For the full fiscal year 2024, analysts forecast that Palantir’s adjusted EPS will skyrocket by 137.5% year-over-year to $0.19, marking continued growth in the company’s financial results.

Analyst Ratings: A Mixed Outlook for Palantir’s Stock

Despite Palantir’s stellar financial performance, analyst sentiment on the stock remains somewhat divided. Among the 18 analysts covering PLTR, the consensus rating is a “Hold”, with a mix of two “Strong Buys,” nine “Holds,” two “Moderate Sells,” and five “Strong Sells.” This mixed outlook reflects the uncertainty surrounding the stock’s valuation after its incredible rise.

Jefferies analyst Brent Thill has reiterated a “Sell” rating on Palantir stock, with a price target of $28, which suggests a significant 64.9% downside from its current price levels. This caution comes amid concerns about Palantir’s overvaluation, especially given its stock’s recent surge.

Price Targets: Upside Potential vs. Concerns of Overvaluation

While some analysts remain cautious, there is still a significant upside potential for Palantir’s stock. The mean price target for PLTR sits at $47.29, below its current price, suggesting that the stock may face challenges in sustaining its momentum. However, there are more optimistic projections as well. The Street-high price target for Palantir is set at $90, indicating a 12.8% upside from its current levels. This demonstrates that some analysts believe the company’s impressive performance and growth prospects could continue to drive its stock higher.

As Palantir continues to capture the attention of investors and analysts alike, its next earnings report and strategic decisions will likely be critical in determining whether the stock can maintain its trajectory or whether a more cautious approach is warranted.

Palantir’s Global Reach and Market Impact

Operating across North America, the U.K., and internationally, Palantir’s platforms have earned a strong reputation for their ability to identify hidden patterns and support critical government and intelligence functions. This global footprint and its success in deploying cutting-edge technology give Palantir a solid foundation for future growth, even as analysts debate the stock’s future valuation.

With a market cap of $181.7 billion, Palantir’s performance will continue to be closely monitored by investors, particularly those in the tech and software sectors. Whether the company can sustain its momentum amid mixed analyst sentiment remains to be seen, but it is clear that Palantir has become a dominant player in the tech industry with substantial growth potential.