NEW YORK, June 24, 2026, 13:05 EDT
- The Nasdaq was open for normal trading at the time of writing. Palantir shares dropped $3.51 to $113.19 just before 12:50 p.m. EDT.
- Palantir and Zeta Global said June 23 they formed a marketing tie-up focused on AI using Palantir Foundry and Zeta’s Athena platform.
- Palantir shares kept falling, even as the company raised its guidance in May and posted solid U.S. growth for the first quarter.
Palantir Technologies Inc. stock dropped 3% to $113.19 on Wednesday. About 26.5 million shares changed hands. Shares hit a low of $112.94, slipping from Tuesday’s $116.70 close.
Palantir shares fell further, pushing the stock close to the 52-week low. Markets Insider put the 52-week low at $113.58 and the high at $207.52. Barron’s said this week that the stock closed at its lowest in over a year, after it broke past an important technical mark.
Palantir and Zeta Global announced Tuesday that they plan to create a marketing-focused data and AI platform together. Under the deal, Zeta’s Data Cloud will be rebuilt using Palantir Foundry, which is Palantir’s enterprise data management tool. Zeta will put its Athena AI layer for marketing decisions on top of the new system. The companies shared the update in a joint release.
Palantir CEO Alex Karp called the partnership a move that would “transform this industry.” Zeta CEO David A. Steinberg said they’re pushing AI-powered marketing for organizations using “a platform they already trust.” Zeta said the deal could add more than $100 million in annual revenue for Zeta over the next few years. Business Wire
Palantir shares kept trading after the deal. Investors.com reported Palantir touched a 52-week low on June 23 as software stocks struggled with worries about AI rivals and possible rate hikes. The site named OpenAI and Anthropic as some of the AI model firms putting heat on the sector.
Palantir shares dropped even as the broader market moved up. Reuters said the Dow, S&P 500, and Nasdaq traded higher late Wednesday morning following two losing sessions. Tech stocks, which had run up fast, were still seeing pressure. “A really clear rotation” out of some winners and into overlooked names, said Brian Mulberry, chief market strategist at Zacks Investment Management. Reuters
Palantir shares are falling despite a strong first quarter. The company posted an 85% jump in total revenue to $1.63 billion. U.S. revenue climbed 104% to $1.28 billion, and U.S. commercial revenue came in up 133% at $595 million. Palantir lifted its 2026 revenue guide to $7.65 billion to $7.66 billion. CEO Karp called it the company’s “highest-ever year-over-year growth rate.” SEC
Palantir shares are swinging as analysts remain divided. MarketScreener tracks 32 analysts, who have a mean “outperform” rating and set an average price target at $182.75. Targets span from $70 up to $255. Markets Insider’s table shows recent calls going both directions—Wolfe Research moved the stock to Hold on June 16, while Rosenblatt and Wedbush stuck with Buy ratings earlier this month. MarketScreener
But the bears have their points: valuation is still rich, there are doubts about whether AI model firms will really take share from traditional software, and political risks cloud non-U.S. contracts. France’s DGSI plans to swap out Palantir for ChapsVision in the next few years, but Palantir says its deal is “fully in force”. Reuters said Germany’s military wants to stop using Palantir, and the UK is reviewing its NHS contract. Reuters
