NEW YORK, July 5, 2026, 13:05 (EDT)
- U.S. stock markets were closed Friday, July 3, for the Independence Day holiday. Nasdaq’s regular hours are 9:30 a.m. to 4 p.m. ET.
- Palantir Technologies Inc. NASDAQ:PLTR finished Thursday at $129.30, up 14.5% from where it ended on June 26.
- Gil Luria at D.A. Davidson lifted his Palantir price target to $175, up from $165. That’s 35% over where shares finished Thursday.
- This week, investors will watch for U.S. services numbers Monday and Fed minutes on Wednesday. Palantir earnings haven’t been confirmed.
Palantir finished the short holiday week with a 14.5% gain from June 26 to Thursday’s close, outpacing the 6.1% move in the iShares Expanded Tech-Software Sector ETF (BATS:IGV). The stock acted more like it was moving on its own news than just following the AI software group. NVIDIA Corp. NASDAQ:NVDA, now teaming with Palantir on sovereign AI work, added 1.2% in the same stretch.
| Instrument | Thursday close | Thursday move | Move from June 26 close |
|---|---|---|---|
| Palantir Technologies Inc. NASDAQ:PLTR | $129.30 | up 2.84% | up 14.5% |
| iShares Expanded Tech-Software Sector ETF (BATS:IGV) | $93.57 | added 0.25% | up 6.1% |
| SPDR S&P 500 ETF Trust (NYSEARCA:SPY) | $744.78 | slipped 0.13% | gained 2.2% |
| Invesco QQQ Trust NASDAQ:QQQ | $712.60 | fell 1.73% | rose 0.9% |
| NVIDIA Corp. NASDAQ:NVDA | $194.83 | dropped 1.39% | up 1.2% |
Palantir’s four-day average volume this week came in at 49.7 million shares, about 9.4% higher than MarketWatch’s 65-day norm of 45.47 million. That’s not light, but it’s nowhere near a frenzy either. Whether the rally can attract more post-holiday volume will get tested when trading resumes Monday.
| Date | Close | Daily move | Volume |
|---|---|---|---|
| June 26 | $112.93 | up 5.28% | 61.36 mln |
| June 29 | $115.70 | up 2.45% | 45.02 mln |
| June 30 | $116.67 | up 0.84% | 37.87 mln |
| July 1 | $125.73 | up 7.77% | 57.28 mln |
| July 2 | $129.30 | up 2.84% | 58.74 mln |
Some growth desks wrote off the stock after a rough June. Barron’s said Palantir had lost 27% in 2026 before Thursday’s upgrade, and another Barron’s story put the June drop at 25%, noting shares bounced after Palantir’s new NVIDIA deal.
Luria shifted on Palantir. He upgraded the stock to Buy from Neutral, calling the valuation the “most attractive it has been in a while.” Luria also said Palantir has “the right strength at the right time,” singling out its data control, security and flexibility in switching models. TipRanks
This matters to investors because the main bear argument is Palantir is pricey, and AI labs could eat into software budgets. Luria counters that Palantir gets a boost from customers who don’t want their core systems stuck with a single model provider. He said a firm running on an orchestration layer can swap out models more easily than one built straight on top of a model.
Company headlines gave new life to that argument. Palantir and NVIDIA announced on June 29 they’ll run NVIDIA AI and Nemotron open models in sovereign setups, with an emphasis on U.S. government agencies and critical infrastructure. The package includes Palantir AIP, Ontology, Foundry, and Apollo with NVIDIA’s AI platform.
Palantir CEO Alex Karp said the deal aims at “removing the underlying security risks” of closed models. NVIDIA founder Jensen Huang said open-source AI was “foundational to national security.” Business Wire
Valuation risk is still there. Google Finance lists Palantir with a price-to-earnings ratio of 145.68. The 52-week range is $106.38 to $207.52. Volume last session was 60.79 million shares. Shares remain well under the recent high, even after last week’s move.
Bulls are staying put because of the earnings. Palantir’s first-quarter revenue came in at $1.633 billion, up 85% from last year. U.S. commercial jumped 133%. U.S. government revenue rose 84%. Palantir also bumped up 2026 revenue guidance to $7.650 billion-$7.662 billion and said U.S. commercial revenue will grow at least 120%.
Macro data dominates the coming week. Kiplinger points out S&P Global final services PMI and ISM Services PMI are due Monday, trade numbers drop Tuesday, and Fed June meeting minutes follow on Wednesday. As of Sunday, Palantir’s investor relations still had Q1 docs listed.
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