Palantir Technologies Inc. (NASDAQ: PLTR) stock is trading around $193.98 in Tuesday’s session (Dec. 23, 2025), up modestly on the day after opening at $195.00.
That price level is also a symbol of how 2025 has unfolded for Palantir: the shares have become a lightning rod for the AI trade—supported by a steady drumbeat of government wins, expanding commercial adoption, and a retail-investor bid that even Wall Street strategists are now explicitly tracking.
But as PLTR heads toward year-end, the story is no longer “Is Palantir growing?”—it’s “How long can growth and contracts outrun valuation?” On Dec. 23, the day’s freshest forecasts and analysis are split: some argue Palantir is building a durable AI moat; others warn the stock’s multiple leaves little margin for error.
Below is a full roundup of the latest news, forecasts, and analyses shaping PLTR on 23.12.2025, plus what investors are watching next.
Palantir stock price today: where PLTR trades on Dec. 23, 2025
As of the latest update available Tuesday, PLTR is $193.98, up $0.57 (+0.295%) from the prior close, with an intraday range roughly $191.60 to $193.98.
That “near-$194” zone matters because it reflects two forces pulling in opposite directions:
- Momentum and narrative: Palantir continues to land high-profile defense and government work while emphasizing AI-enabled deployment in the real world.
- Valuation gravity: More analysts and commentators are framing PLTR as priced for near-perfection—meaning even strong execution may not guarantee strong forward returns.
The biggest PLTR stock driver right now: defense and government wins keep coming
1) U.S. Navy: $448 million “Ship OS” investment centered on Palantir software
A central catalyst in December has been the U.S. Navy’s announcement of a $448 million strategic investment in a “Shipbuilding Operating System (Ship OS)” that will use Palantir’s software to accelerate AI and autonomy adoption across the shipbuilding industrial base. [1]
Notably, the Navy highlighted early pilot outcomes—pointing to dramatic time reductions in planning and reviews at major shipbuilding and maintenance organizations (examples included cutting submarine schedule planning from 160 manual hours to under 10 minutes, and compressing material review timelines from weeks to under an hour at a naval shipyard). [2]
For PLTR stock, this is the kind of headline investors love: a large dollar figure, clear operational use cases, and a defense modernization narrative that can extend beyond a single program.
2) U.S. Army: enterprise agreement capped at $10 billion over up to 10 years
Earlier in 2025, the U.S. Army announced a major consolidation move—an enterprise agreement with Palantir that the Army says creates a framework for future software and data needs, consolidating 75 contracts into a single contract vehicle and establishing volume-based discounts for a performance period of up to 10 years, with a $10 billion cap. [3]
The Army also emphasized a key point that investors sometimes miss: the $10 billion is a maximum potential value, not a commitment to spend that amount. [4]
Still, “cap or commitment,” the market typically treats this sort of structure as supportive because it can reduce procurement friction and embed Palantir deeper into long-term operating workflows.
3) UK Ministry of Defence: tender notice shows £240.6 million enterprise agreement
In Europe, a UK government tender notice points to the Ministry of Defence’s intent to award a follow-on enterprise agreement to Palantir Technologies UK, Ltd., listing a contract value of £240.6 million and an award decision date of Dec. 17, 2025. The notice also shows an estimated contract period of April 1, 2026 to March 31, 2029, along with a standstill period and an earliest signing date at the end of December. [5]
The description attached to the procurement highlights ongoing licensing and support for data analytics capabilities used across defense classifications and interoperable with NATO/allied systems. [6]
For investors, this adds a second theme to Palantir’s bull case: not just U.S. defense momentum, but continued relevance with allied governments.
4) U.S. Treasury: contract award tied to “Unified API Layer and Data Integrity”
On the civilian federal side, the U.S. Treasury Department said it awarded a contract to Palantir as part of its IT modernization agenda—specifically for a “common API layer” that supports developer platforms, workflow automation, and data analytics, with the stated goal of improving data integrity and technical infrastructure. [7]
This matters because it reinforces Palantir’s positioning beyond battlefield/defense headlines: as a foundational data layer for large institutions trying to modernize.
5) Another signal: Palantir included in DOE’s AI collaboration push
In the broader AI ecosystem, Reuters reported that Palantir is among the organizations participating in the U.S. Department of Energy’s “Genesis Mission,” an AI-powered research push involving a large roster of tech and AI names. [8]
This is not a “Palantir-only” catalyst, but it strengthens the narrative that PLTR is consistently appearing in high-level government AI initiatives.
Retail investors are officially part of the PLTR story in 2025
One of the most notable “today” reads is not a Palantir press release—it’s a market structure story.
Reuters reported on Dec. 23 that retail inflows into U.S. stocks are on track to hit record highs in 2025, with data suggesting retail trading accounted for a meaningful share of activity, and noting that Nvidia, Tesla, and Palantir were top retail picks. [9]
The key takeaway for PLTR investors: in a tape dominated by narrative, liquidity, and momentum, Palantir is no longer just a company—it’s a theme.
That can amplify both upside (when sentiment is strong) and downside (if the narrative breaks).
Palantir’s latest fundamentals: what the company guided, and why it matters to valuation
Palantir’s stock debate on Dec. 23 is inseparable from its own numbers—because many bulls argue the business is executing at a pace that justifies premium multiples.
From Palantir’s Q3 2025 investor presentation, key datapoints include:
- Q4 2025 revenue guidance:$1.327 to $1.331 billion [10]
- Full-year 2025 revenue guidance:$4.396 to $4.400 billion [11]
- Full-year 2025 adjusted free cash flow guidance:$1.9 to $2.1 billion [12]
- US commercial revenue guidance for FY 2025: in excess of $1.433 billion, described as growth of at least 104% [13]
- Q3 2025 GAAP EPS:$0.18 [14]
- Net dollar retention (Q3 2025):134% [15]
- Deal activity (Q3 2025):204 deals of at least $1 million, with 91 deals at least $5 million and 53 deals at least $10 million [16]
In plain English: Palantir is trying to prove it can convert “AI excitement” into repeatable enterprise buying behavior—and that the customer base is expanding with meaningful contract sizes, not just pilots.
Analyst forecasts for PLTR: why the “consensus” hides a wide disagreement
The headline consensus: about $189, but the range is the real story
TradingView’s aggregated analyst snapshot on Dec. 23 lists a price target of $189.40, with a max estimate of $255.00 and a min estimate of $50.00, and an overall neutral rating based on analyst inputs over the prior months. [17]
That spread is enormous—and it tells you exactly why PLTR is so polarizing:
- If you believe Palantir becomes a core AI operating layer across government and enterprise, the upside cases can look “reasonable” even at high prices.
- If you believe growth normalizes and multiples compress, the downside scenarios become severe.
The bullish anchor: Bank of America’s $255 target
A frequently cited bullish marker in recent weeks has been BofA Securities, which (in a Nov. 4 note) raised its price target to $255 from $215 while maintaining a Buy rating, attributing upside to accelerated growth as customers recognize the value of Palantir’s AI offering. [18]
That same report also illustrates how divided the Street can be in one paragraph, listing sharply different stances from other firms after results—examples included Mizuho raising a target (Neutral), RBC keeping a low target (Underperform), and Jefferies raising a target while still rating it Underperform. [19]
Technical and momentum perspectives remain active
While some outlets focus on fundamentals, others on Dec. 23 are leaning heavily into chart-based narratives—highlighting PLTR’s strength in 2025 and the significance of the stock holding above key psychological levels around $190. [20]
(For long-term investors, this matters less than revenue durability—but it absolutely matters to how the stock trades day-to-day.)
The bull case for Palantir stock in 2026: why PLTR believers are still buying
Across the day’s optimistic takes (and much of 2025’s narrative), the bullish thesis tends to stack up like this:
1) Palantir is embedding into mission-critical workflows, not optional dashboards.
Defense programs like the Navy’s Ship OS and the Army’s enterprise agreement are the type of deployments that can be sticky for years. [21]
2) Government modernization is broadening beyond defense.
Treasury’s modernization statement positions Palantir as a building block for data integrity and API infrastructure inside a major federal department. [22]
3) Commercial growth is accelerating enough to keep the “software multiple” debate alive.
With Palantir guiding for full-year revenue near $4.4B and highlighting strong U.S. commercial growth, bulls argue the company is moving into a different scale category. [23]
4) Retail demand remains a meaningful bid under the stock.
Reuters explicitly framed Palantir as one of the year’s most favored retail names—an important support in momentum-driven markets. [24]
The bear case on Dec. 23: valuation risk is the headline, not execution risk
Today’s more cautious viewpoints are not necessarily saying Palantir is failing—they’re saying the stock is priced as if it can’t stumble.
A Nasdaq-hosted Motley Fool analysis published Dec. 23 points to Palantir’s extremely elevated valuation, highlighting a price-to-sales ratio around 127 and arguing that historically it’s difficult for megacap-style winners to sustain very high sales multiples for extended periods. [25]
A Seeking Alpha analysis published the same morning (Dec. 23) similarly frames the issue as “solid fundamentals, but not enough,” arguing that valuation has outrun fundamentals and that growth could decelerate—resulting in a Hold stance in that commentary. [26]
This is the core risk setup for PLTR into 2026:
- If revenue growth slows even modestly, the market may decide the multiple must shrink.
- If rates, sentiment, or the broader AI trade turns risk-off, premium-valued names often correct first and hardest.
- If Palantir’s growth continues but “only” meets guidance rather than beating it, the stock might still struggle if investors were pricing in upside surprises.
A lighter headline still making the rounds: Alex Karp’s $120 million property purchase
For completeness—because it’s trending alongside stock coverage today—MarketWatch reported that Palantir CEO Alex Karp purchased a Colorado property described as a former monastery on thousands of acres for $120 million. [27]
This is unlikely to be a fundamental driver of PLTR’s revenue or contract pipeline. But it reflects something real about Palantir in late 2025: the company and its leadership remain highly visible, and visibility can feed both enthusiasm and scrutiny.
What to watch next for PLTR stock: the 2026 catalyst checklist
As Dec. 23 trading unfolds and year-end positioning continues, investors tracking Palantir stock are generally focused on a few measurable milestones:
- Q4 results and 2026 guidance: the stock’s multiple arguably demands not just strong results, but continued evidence of durable demand and operating leverage. [28]
- Delivery and expansion of large defense programs: the Navy’s Ship OS initiative and the Army’s enterprise agreement structure keep the spotlight on execution and scale. [29]
- International follow-through: the UK MoD tender details (value, dates, and standstill/signing window) will be watched as a signal of allied-government momentum. [30]
- Analyst dispersion: with targets ranging from $50 to $255, shifts in the consensus could be as important as the consensus itself—because changes reveal which “side” is winning the narrative. [31]
Bottom line on Palantir stock on Dec. 23, 2025
On Dec. 23, Palantir (PLTR) sits at the intersection of three powerful forces:
- Contract momentum (defense, government modernization, allied adoption), [32]
- Strong reported/guided fundamentals that keep the growth narrative alive, [33]
- A valuation debate that grows louder as the stock stays elevated, with serious analysts and commentators warning that even excellent execution may not protect shareholders from multiple compression. [34]
That’s why the “answer” on PLTR isn’t a single forecast—it’s a range of scenarios. And today’s forecast range, from roughly $50 on the low end to $255 on the high end, captures the uncertainty perfectly. [35]
This article is for informational purposes only and is not investment advice.
References
1. www.navy.mil, 2. www.navy.mil, 3. www.army.mil, 4. www.army.mil, 5. www.find-tender.service.gov.uk, 6. www.find-tender.service.gov.uk, 7. home.treasury.gov, 8. www.reuters.com, 9. www.reuters.com, 10. investors.palantir.com, 11. investors.palantir.com, 12. investors.palantir.com, 13. investors.palantir.com, 14. investors.palantir.com, 15. investors.palantir.com, 16. investors.palantir.com, 17. www.tradingview.com, 18. www.investing.com, 19. www.investing.com, 20. www.fxleaders.com, 21. www.navy.mil, 22. home.treasury.gov, 23. investors.palantir.com, 24. www.reuters.com, 25. www.nasdaq.com, 26. seekingalpha.com, 27. www.marketwatch.com, 28. investors.palantir.com, 29. www.navy.mil, 30. www.find-tender.service.gov.uk, 31. www.tradingview.com, 32. www.navy.mil, 33. investors.palantir.com, 34. www.nasdaq.com, 35. www.tradingview.com
