Palantir (PLTR) Stock Today: Wedbush’s ‘Golden Path’, New AI Deals and the Trillion‑Dollar Debate

Updated: December 5, 2025

Palantir Technologies Inc. (NASDAQ: PLTR) is back in the spotlight today as its stock trades around $178 per share, leaving the company valued at more than $420 billion after a blistering AI‑driven run in 2025. ^[1]

Fresh bullish commentary from Wedbush, new AI partnerships and product launches, and a wave of institutional filings are colliding with growing warnings about an AI bubble and Palantir’s extreme valuation. The result: PLTR remains one of the market’s most hotly debated AI stocks heading into 2026. ^[2]

Below is a detailed look at today’s key headlines (December 5, 2025), Palantir’s latest earnings, Wall Street forecasts, and what they could mean for investors following PLTR stock.

Palantir stock today: price, performance and valuation

As of Friday, December 5, Palantir shares are trading in the high‑$170s – roughly $178–179 intraday according to both real‑time quote services and independent aggregators. ^[3]

Over the past year, PLTR has swung between a 52‑week low near $63 and a record high around $207.52 set on November 3, putting today’s price about 15–20% below the peak but still up dramatically year to date. ^[4] Different outlets estimate Palantir’s 2025 gain at 120%+, and it has more than doubled from its January low. ^[5]

Where things get controversial is valuation:

MarketBeat pegs Palantir’s market cap around $424 billion with a trailing P/E ratio over 420 and a PEG ratio above 6. ^[6]
Reuters and other data providers put Palantir’s forward P/E around 240–250x, still multiples of mega‑cap AI peers like Nvidia. ^[7]
Trefis goes further, estimating PLTR trades at roughly 100x projected 2025 revenue and ~561x forward earnings based on early‑December prices. ^[8]

In short, Palantir is priced for something close to perfection — which sets the stage for both euphoria and fear.

Inside Q3 2025: AI “juggernaut” quarter

Today’s debate around PLTR is grounded in a genuinely explosive Q3 2025.

According to Palantir’s Q3 2025 earnings release and investor presentation:

Revenue: $1.18 billion, up 63% year over year and 18% quarter over quarter, beating consensus estimates around $1.09 billion. ^[9]
Adjusted EPS: $0.21 vs. $0.17 expected; GAAP EPS jumped from $0.06 to $0.18. ^[10]
U.S. commercial business: Revenue surged 121% YoY to about $397 million, becoming the company’s star growth engine. ^[11]
U.S. government: Revenue climbed about 52% YoY to $486 million; total U.S. revenue rose 77% to $883 million. ^[12]
Profitability & cash: Net income reached roughly $475.6 million, while adjusted operating margin hit 51% and adjusted free cash flow margin exceeded 50%, leaving Palantir with about $6.4 billion in cash and no debt. ^[13]

Management also raised guidance for the third consecutive quarter:

Q4 2025 revenue is now forecast between $1.327–$1.331 billion, implying ~61% YoY growth, versus Wall Street estimates near $1.19 billion. ^[14]
Full‑year 2025 revenue guidance was lifted to $4.396–$4.4 billion (from about $4.14–$4.15 billion previously). ^[15]
Palantir now expects U.S. commercial revenue in excess of $1.433 billion, a growth rate of at least 104%. ^[16]

CEO Alex Karp has repeatedly described U.S. commercial as an “absolute juggernaut” and said demand for Palantir’s AI Platform (AIP) is “otherworldly,” capturing the tone of the current growth narrative. ^[17]

Yet despite what Nasdaq called “its best quarter ever,” the stock sold off after earnings, underscoring fears that expectations and valuation may already be too high. ^[18]

December 5, 2025: New AI partnerships and product launches

Several fresh headlines today are helping keep Palantir in focus.

1. Wedbush’s “golden path” and Teton Ridge deal

In a note highlighted by Seeking Alpha this morning, Wedbush Securities reiterated its Outperform rating on Palantir and a $230 price target, calling out what it sees as a “golden path” for the company to eventually reach a $1 trillion market cap. ^[19]

Key takeaways from Wedbush’s latest commentary:

Feedback from a recent Palantir customer event suggests roughly a 50/50 split between new multi‑year customers and existing customers expanding spend, with many “going all‑in” on the platform after AI bootcamps and demos. ^[20]
Wedbush highlighted Palantir’s growing partnership ecosystem, including Nvidia and TWG AI, and a new deal with western sports and entertainment company Teton Ridge — showcasing real‑time AI use‑cases such as computer vision in rodeo and live sports. ^[21]
Lead analyst Dan Ives has framed Palantir as being on a “golden path” to become the “next Oracle” in enterprise software, thanks to rapid AIP adoption and strengthening government and commercial pipelines. ^[22]

This is one of the loudest bullish voices on the Street and is a key driver of today’s positive sentiment.

2. Northslope: first “Elite” AI partner and the new Chain Reaction OS

Separately, Benzinga reports that Palantir has named Northslope – a Palantir‑native applied AI company founded by Palantir alumni – as the inaugural member of its “Palantir Vanguard: Elite” partner network. ^[23]

According to the announcement:

Northslope builds production‑ready AI applications on Palantir’s platforms for global customers and will help deliver “transformative AI outcomes at speed and scale.” ^[24]
Palantir’s Global Head of Commercial said Northslope enables customers to “win with AIP and dominate their industry,” underscoring how Palantir wants its partners to drive real business outcomes, not just proofs of concept. ^[25]

The same piece highlights the launch of Chain Reaction, a new operating system designed to support the U.S. AI infrastructure build‑out, with founding partners including CenterPoint Energy and Nvidia. The platform aims to help energy producers, utilities and data centers modernize aging power assets for high‑uptime AI workloads. ^[26]

Benzinga notes that PLTR shares were up about 0.5% in premarket trading near $178.75 on the back of these announcements. ^[27]

3. Institutional filings: big conviction, big insider selling

MarketBeat today flagged multiple new or updated 13F filings:

Carroll Investors Inc. trimmed its Palantir stake by 2.1% but still holds over 231,000 shares, making PLTR about 16.7% of its portfolio and its largest single position (valued around $31.5 million at quarter‑end). ^[28]
A series of filings from firms including Finer Wealth Management and M Holdings Securities show smaller wealth managers significantly increasing their PLTR stakes (for example, by 48% and 58% in the second quarter, respectively). ^[29]

At the same time, MarketBeat points out that insiders sold roughly 1.03 million shares (about $168 million worth) over the last three months, even as institutional ownership sits near 46% and insiders still hold around 9% of shares. ^[30]

That combination of high institutional conviction plus heavy insider selling is another reason PLTR polarizes investors.

What Wall Street is saying now: targets from $50 to $255

Despite the excitement, Wall Street’s consensus stance remains surprisingly cautious.

Consensus: Hold, with modest downside

StockAnalysis, which aggregates sell‑side estimates, shows:

19 analysts currently cover Palantir.
The average 12‑month price target is about $171.74, implying roughly 4% downside from today’s price.
Targets span from $50 on the low end to $255 at the high end, and the consensus rating is a clear “Hold.” ^[31]

MarketBeat’s data tell a similar story: it counts 4 Buy ratings, 18 Hold and 2 Sell, with an average target of roughly $172.28. Recent raised targets include Goldman Sachs at $188 (Neutral), Mizuho at $205 (Neutral), HSBC at $197 (Hold), and RBC at $50 (Underperform). ^[32]

Outliers: Wedbush, Bank of America and others

While the average target sits just below the current price, several high‑profile analysts are far more bullish:

Wedbush: Outperform, $230 target, “golden path” to a potential $1T market cap as Palantir becomes a core enterprise AI platform. ^[33]
Bank of America: Recently lifted its target to $255 with a Buy rating, one of the highest Street targets. ^[34]
UBS, Goldman, Morgan Stanley, Baird and others have boosted their targets into the $188–$215 range but largely maintain Hold or Neutral ratings, signaling respect for the business but discomfort with valuation. ^[35]

Bears & skeptics: price targets far below today’s level

On the other side of the spectrum:

RBC Capital maintains an Underperform rating with a $50 target, implying over 70% downside. ^[36]
24/7 Wall St. published two recent forecast pieces: one projects PLTR at $107 in 12 months (about 37% downside), while a separate long‑range model sees $120 in 2025 and a $192 price target by 2030, assuming revenue grows from ~$3.9 billion in 2025 to ~$8–12 billion by 2030. ^[37]
Forecast aggregators like Stocksguide put the average 2026 target near $204, with a range from about $50.50 to $267.75, and classify analyst recommendations as roughly 11 Buy, 18 Hold, 3 Sell. ^[38]

Algorithmic and technical forecasting sites are more mixed: services like Longforecast and StockInvest.us model PLTR ending December around the mid‑$180s, close to where it trades now, and see relatively modest upside in the near term. ^[39]

The net message: analysts, on average, don’t see much upside over the next year, even as a handful of high‑profile bulls argue Palantir could still be early in a multi‑year AI uptrend.

Why some analysts say “avoid Palantir at all costs”

The bearish case sharpened further this morning.

The Motley Fool ran a December 5 piece bluntly titled “1 Artificial Intelligence Stock to Avoid at All Costs,” singling out Palantir. The article’s core argument is that PLTR’s valuation has become extremely difficult to justify, especially after a multi‑year rally that has priced in aggressive growth for the rest of the decade. ^[40]

Other recent commentary echoes this concern:

Trefis warns that Palantir is trading at exceedingly high multiples — around 100x 2025 revenue and roughly 561x forward earnings as of December 2 — and highlights the company’s history of sharp drawdowns (including an ~85% peak‑to‑trough drop during the inflation shock). ^[41]
MarketWatch and Reuters both note that even after the post‑earnings pullback, Palantir’s forward P/E north of 240x dwarfs many other AI leaders, with only about 20–25% of analysts rating the stock a Buy. ^[42]
Several outlets point to heavy insider selling, with recent SEC filings showing more than $160 million of stock sold by executives in three months, including CEO Alex Karp, even as retail and institutional investors pile in. ^[43]

Motley Fool’s broader thesis is that history is unkind to stocks priced this richly, especially in hot thematic sectors like AI. It warns that even flawless execution may not protect shareholders if the market simply decides to re‑rate the entire AI cohort at lower multiples. ^[44]

Long‑term growth drivers: defense, commercial AI and new verticals

For bulls, Palantir’s fundamental story remains compelling and helps explain why some analysts still see a path to $200+ per share.

1. Defense and national security

Palantir remains deeply entrenched in U.S. and allied defense infrastructure:

The company has won a multi‑year U.S. Army program worth up to $10 billion, with the Army directing units to adopt Palantir’s Vantage platform. ^[45]
Wedbush and TipRanks highlight new or expanded deals with the U.S. Department of Veterans Affairs (~$385 million), defense contracts in Poland, and partnerships with NATO and the UK Armed Forces. ^[46]
Palantir continues to add defense‑adjacent verticals, from space partnerships with Voyager Space and Starlab to critical infrastructure analytics, as highlighted in recent 24/7 Wall St. coverage. ^[47]

With AI increasingly central to defense strategy, bulls argue that Palantir’s government moat is hard to replicate.

2. Commercial AI Platform (AIP) momentum

On the commercial side, AIP is the engine behind Palantir’s breakout numbers:

U.S. commercial revenue grew 121% YoY in Q3, and commercial revenue overall rose 73% YoY, driven by faster deal cycles and expanding deal sizes. ^[48]
The company now has over 900 total customers, with commercial customer count up roughly 49% YoY and net dollar retention around 134%. ^[49]
“AI bootcamps” – short, intensive workshops where Palantir co‑builds use‑cases with customers – are converting pilots into multi‑year deployments, according to Wedbush’s field checks. ^[50]

New collaborations like Northslope (Elite partner), Nvidia (Blackwell integration), Snowflake, TWG AI, and energy‑infrastructure OS Chain Reaction broaden Palantir’s reach into sectors from finance and manufacturing to utilities and data centers. ^[51]

3. Financial strength

Even critics concede that Palantir’s balance sheet and cash generation are impressive:

Roughly $6.4 billion in cash and no debt. ^[52]
Adjusted operating margin above 50% and free cash flow margins exceeding 50% in Q3, giving Palantir ample firepower for R&D, go‑to‑market expansion and strategic deals. ^[53]

For long‑term bulls, that combination of hyper‑growth, entrenched government contracts, and strong cash generation is what might justify a premium multiple.

Palantir stock forecast: scenarios for 2025–2030

Putting it all together, current forecasts sketch a wide range of possible outcomes.

Short term (next 12 months)

Street consensus: Around $172 per share, modestly below today’s level, with most analysts expecting PLTR to roughly track the broader market while earnings catch up to the valuation. ^[54]
Bullish outliers: Wedbush at $230, Bank of America at $255, and several others in the $200–$215 range, all assuming Palantir sustains 40–60%+ revenue growth and keeps expanding margins. ^[55]
Bearish views: Targets like $120 or $107 from 24/7 Wall St., and $50 from RBC, assume multiple compression and slower growth in a more competitive and less euphoric AI environment. ^[56]

Longer term (2027–2030)

24/7 Wall St.’s 2025–2030 model projects revenue climbing toward $8–12 billion by 2030, EPS around $1.27–$1.44, and a 2030 price target near $192, implying modest upside from today’s price if earnings grow as expected and valuation normalizes. ^[57]
Some analysts, led by Wedbush, openly discuss the possibility of Palantir joining the trillion‑dollar market‑cap club if AIP becomes a standard layer of enterprise AI infrastructure. ^[58]
Algorithmic services like Longforecast and others sketch out volatile but generally sideways‑to‑up trajectories, with PLTR oscillating between the mid‑$100s and low‑$200s over the next couple of years. ^[59]

The sheer spread of forecasts – from $50 to $255 – is itself a signal of how uncertain the market is about Palantir’s ultimate earnings power and what multiple investors will be willing to pay for those earnings.

Key takeaways for investors watching PLTR

Nothing here is personal investment advice, but if you’re following Palantir stock after today’s news, a few themes stand out:

Fundamentals are on fire. Revenue is growing 60%+, U.S. commercial revenue is more than doubling, and margins and cash flow are expanding quickly. Palantir is executing unusually well for a company this size. ^[60]
Valuation is the main battleground. Depending on the source and metric, PLTR trades at triple‑ to quintuple‑digit earnings multiples and around 100x 2025 revenue, far above most software and AI peers. That’s why so many analysts sit at “Hold” despite loving the business. ^[61]
Today’s headlines mostly reinforce the bull case. New elite partners like Northslope, product launches like Chain Reaction, and Wedbush’s $230 target all support the narrative that Palantir is becoming foundational infrastructure for AI across defense, energy and enterprise. ^[62]
But risks are real and history is sobering. Palantir’s stock has experienced 30%+ drops in short spans and an ~85% collapse in past cycles, and multiple commentators warn that even minor disappointments – a slower quarter, a contract issue, or an AI sentiment shift – could trigger a violent re‑rating. ^[63]
The stock is essentially a leveraged bet on AI execution. If Palantir keeps compounding revenue at 40–60% with high margins and entrenched government and commercial contracts, today’s valuation might prove justified. If growth slows or competition erodes its moat, the downside could be severe, especially from such elevated multiples. ^[64]

Because of that risk‑reward profile, many professionals view PLTR as suitable only for investors who:

Have a multi‑year time horizon
Can tolerate significant volatility and potential drawdowns
Are comfortable with high‑growth, high‑valuation names where sentiment can swing quickly

If you’re considering Palantir, it’s worth pairing this news‑driven snapshot with your own deeper work on the company’s technology, contracts, and your personal risk tolerance or speaking with a qualified financial adviser.