New York, Feb 20, 2026, 18:32 EST — After-hours
- Palantir ticked up 0.3% in after-hours trading, barely budging for the day following a volatile session.
- DHS has agreed to a five-year purchasing deal worth as much as $1 billion for Palantir software, according to the report.
- Notices from several executives signaled possible share sales, while investors took in an analyst upgrade and fresh partnership news from Rackspace.
Palantir Technologies (PLTR) ticked up 0.3% to $135.24 in Friday’s after-hours action, as shares moved between $131.23 and $136.38 during the day. Roughly 54 million shares changed hands. According to Wired, the U.S. Department of Homeland Security has signed a five-year blanket purchase agreement with Palantir, potentially worth as much as $1 billion, making it possible for agencies like ICE and Customs and Border Protection to acquire Palantir’s software and services more easily. (WIRED)
Palantir’s government business is getting attention again with the DHS agreement, reviving interest just as traders scan for a fresh spark. Lately, the stock has jumped around on contract wins and analyst commentary, even as the broader software sector shows some shakiness.
Investopedia notes Palantir shares have dropped close to 35% from their November peak, reigniting debate about whether the company’s growth story actually stacks up against its lofty valuation. Analyst opinions are divided, according to Visible Alpha figures cited by Investopedia, though price targets suggest a possible rebound to last year’s highs. (Investopedia)
A blanket purchase agreement lays out the contract terms and pricing, allowing agencies to submit detailed requests down the line. According to SiliconANGLE, instead of handing out all the funding at once, the DHS deal splits spending across separate task orders over a five-year stretch. Palantir’s Gotham and Foundry platforms are set to underpin much of the technical rollout. (SiliconANGLE)
Insider filings brought fresh attention. According to data from Finviz, several Palantir executives and board members, among them CEO Alexander Karp, submitted Form 144 notices on Friday. The filings outline possible sales, with amounts stretching from tens of thousands up to over 400,000 shares. Form 144 serves as a pre-sale notice required by SEC resale regulations—it doesn’t confirm that shares have actually been sold. (Finviz)
Rackspace Technology and Palantir announced Wednesday they’re teaming up to help businesses roll out Palantir Foundry and its Artificial Intelligence Platform—AIP—into live production environments, sticking to what they call a “governed” operating model. Rackspace’s plan: boost its roster of Palantir-trained engineers from 30 today to more than 250 within 12 months. “Organizations need AI that works in production, not just in demos,” Rackspace CEO Gajen Kandiah said. Palantir’s Sameer Kirtane added that AIP is shrinking complex data-migration projects “from years to days.” (GlobeNewswire)
Mizuho raised its rating on Palantir to Outperform from Neutral while sticking with its $195 price target, according to MarketScreener. Gregg Moskowitz, the analyst, put Palantir “in a category of its own” and argued the recent drop in shares had recalibrated the “risk/reward” after what he called a purge of valuation risk. (MarketScreener)
Macro conditions aren’t doing any favors. On Friday, U.S. core PCE inflation came in at 0.4% for December, topping estimates and giving more weight to the view that the Federal Reserve probably holds off on rate cuts until at least June. That puts extra heat on high-multiple software stocks. Economists told Reuters the inflation picture could still get another shakeup after next Friday’s producer price index. (Reuters)
Palantir pushes its data-and-decision software mostly to government agencies and some private firms, relying on public-sector contracts to get bigger. In the federal space, it faces a crowd: specialist contractors, plus major tech players tying analytics, security, and cloud into bundled, multi-year deals.
Still, plenty is in play in the short run. The DHS deal caps out potential revenue but doesn’t promise it—actual dollars hinge on task orders. On top of that, insider sale plans tend to spook shares already on edge.
This week, a U.S. judge issued a temporary order blocking two ex-Palantir employees from recruiting Palantir staffers for their AI startup, but left them free to continue working at the new company. (Reuters)
U.S. markets remain closed for the weekend, so attention shifts to Monday, when traders look for moves linked to talk around government contracts—and whether those convert quickly into initial orders. The BEA’s January PCE report, the next big inflation signal, lands March 13. (bea.gov)
