New York, June 23, 2026, 09:06 EDT
- Palantir edged 0.7% higher before the bell. The stock dropped 7.0% Monday at the close.
- The stock fell to a new 52-week low with investors selling off high-valuation software stocks.
- Palantir landed a spot in U.S. Army data architecture in a new announcement, while Zeta Global said it will team up with Palantir for a marketing AI partnership.
Palantir Technologies Inc shares ticked up in premarket trading Tuesday. The artificial-intelligence software company is coming off a steep drop that sent the stock to its lowest in over a year.
Nasdaq-listed shares were at $120.32 in premarket trade at 9:05 a.m. EDT, up 0.7% after a 7.0% slide Monday, when they ended at $119.50. On Monday, the stock hit $119.20, its 52-week low, on volume of 56.9 million shares. Premarket is the lower-volume session ahead of the regular open.
Palantir is seen as a bellwether for the AI software trade. Investors still pay up for its growth, but with rates and competition weighing, they aren’t as ready to brush off high valuations. The stock trades at a price-to-earnings ratio of around 134, based on market data.
Nasdaq trading hadn’t started yet when this published. Nasdaq says regular U.S. stock-market hours run 9:30 a.m. to 4:00 p.m. Eastern, and premarket from 4:00 a.m. to 9:30 a.m. June 23 isn’t on the list of 2026 market holidays, according to Nasdaq’s schedule, following the Juneteenth break on June 19.
Palantir shares slipped before a late bounce. Barron’s said Monday the stock finished at a more than one-year low and moved under a key technical mark. Investor’s Business Daily reported that the drop in the software group is being tied to worries about interest rates and concerns that newer AI players could shake up the space.
Tech stocks struggled on Monday, pulling the S&P 500 down 0.4% and the Nasdaq Composite off 1.3%. The Dow pushed against the trend, rising 0.3%, the Associated Press said.
Palantir picked up two company headlines. On Monday, the firm announced the U.S. Army picked Palantir Foundry as the cloud data layer for the Next Generation Command and Control program. Anduril’s Lattice is the tactical data layer. Akash Jain, president and CTO of Palantir USG, called the baseline “foundation on which future applications and AI-enabled mission capabilities can be built.” Business Wire
Palantir and Zeta Global said Tuesday they’re teaming up to develop enterprise marketing data and AI infrastructure. Under the deal, Zeta’s Data Cloud will be rebuilt on Palantir Foundry. Palantir CEO Alex Karp said the partnership would “transform this industry.” Zeta CEO David Steinberg said it puts AI-powered marketing on a trusted platform for organizations. Zeta Global
Takeaways for rivals are mixed. Anduril shows up as a partner in the Army architecture, not a direct competitor in this round, but its presence points to military AI contracts splitting up between specialized software players. For commercial names, investors look at Salesforce and Oracle to see if AI agents — software that can do jobs with less human input — end up helping the older software incumbents or shrinking demand for traditional seats.
Wall Street’s still bullish. FactSet numbers cited by WSJ show the stock has 17 buys, 11 holds, and two sells. Consensus rating is “Overweight.” Average price target comes in at $189.87, well over where shares closed Monday, though targets run from $70 to $255. Wall Street Journal
Rebound could fizzle. Palantir has to prove defense deals and new AI tie-ups will bring in cash quickly enough to match its price. Higher yields would put more heat on long-term growth names, where profits aren’t close. A couple soft days for software and Tuesday’s premarket pop might not look like a change, just a break.
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