New York, June 28, 2026, 15:02 (EDT)
- U.S. stocks are shut Sunday in New York. Nasdaq’s next full-day closure is set for July 3 because of Independence Day.
- Palantir Technologies Inc. NASDAQ:PLTR finished Friday at $112.93, rising 5.28%. The stock had hit a 52-week low of $106.37 the day before.
- Shares dropped 12.1% from June 18 through Friday, wiping out around $40 billion in diluted equity value based on Q1 diluted shares.
- U.S. markets trade on a shortened schedule this week. Investors are set for June jobs numbers and Army NGC2 validation work is on tap for July.
Palantir Technologies Inc. NASDAQ:PLTR was closed Sunday, but Friday’s 5.28% rebound to $112.93 puts the spotlight back on valuation. The market’s question now is whether its defense software can justify a price near 38 times its 2026 revenue target. Shares are still off 12.1% since the June 18 close.
The gap tells the story. With 2.571 billion diluted shares from Palantir’s Q1 EPS, the move from $128.47 on June 18 to $112.93 Friday wiped out roughly $40 billion in equity value. After closing at $107.27 Thursday, Friday’s bounce put back about $14.6 billion.
Palantir got some bullish news from the Army this week. On June 22, the Army picked the baseline for its Next Generation Command and Control, or NGC2. Anduril takes the lead role, but Palantir stays on as a partner for edge-to-cloud data mesh using Foundry.
The price is still unknown. Breaking Defense said the Army didn’t give a dollar value for the award, and the 10-year, $20 billion ceiling is part of an enterprise licensing deal with Anduril, not Palantir. That’s important, since Palantir’s guidance for 2026 revenue is $7.650 billion to $7.662 billion.
| Measure | Palantir Technologies Inc. NASDAQ:PLTR | Comparable read |
|---|---|---|
| Friday close | Shares ended at $112.93, rising 5.28%, volume at 61.36 million, or 137% of its 65-day average | Nasdaq fell 0.24%, S&P 500 slipped 0.05% |
| Five-session tape | Stock dropped 12.1% since June 18 close | Nasdaq gave up 4.7% on the week; S&P 500 shed 2.05% |
| Valuation math | Diluted equity value is near $290.3 billion, trading at around 38 times 2026 midpoint sales outlook | Palantir’s NGC2 dollar figure not reported |
| Key price band | Stock hit a low of $106.37 Thursday; Friday’s top was $114.08 | 52-week top sits at $207.52 from Nov. 3, 2025 |
Dip buyers showed up. Cathie Wood’s ARK Invest picked up over 30,500 Palantir shares on Thursday across three of its ETFs, trade notifications said, per Investopedia. Four out of six analysts covering Palantir are at “buy,” with an average price target of around $202, according to Visible Alpha data cited by Investopedia. Investopedia
Wedbush’s Dan Ives kept his bullish stance on the stock, calling it “way oversold,” according to Investor’s Business Daily. The paper reported Palantir shares hit a 52-week low and had fallen 36% this year. Investor’s Business Daily
High-multiple AI stocks kept sliding even as the market tried to stabilize. Reuters said the Nasdaq dropped 4.7% this week while the PHLX chip index tumbled 7.9%, its weakest week since April. “Questions about AI profitability and capex are certainly not going away,” David Stubbs, AlphaCore Wealth Advisory’s chief investment strategist, told Reuters. Reuters
Palantir posted first-quarter revenue of $1.633 billion, up 85% year over year, beating what the chart showed. U.S. government revenue climbed 84% to $687 million. U.S. commercial revenue jumped 133% to $595 million. CEO Alex Karp called the U.S. the “constant core” of Palantir’s business. SEC
Margins are up next for Palantir. The company posted a 60% adjusted operating margin and $925 million in adjusted free cash flow for Q1. But Reuters cited CFO David Glazer saying that costs will go higher in 2026 as Palantir plans to spend more on products and hiring technical staff.
U.S. stock markets will have a shortened week with a July 3 closure. Palantir’s near-term levels are Thursday’s $106.37 low, Friday’s $114.08 high, and the $119.50 close on Monday, which is now above the market. Army validation at Project Convergence-Capstone 6 is due in July.
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