New York, January 7, 2026, 16:20 (EST) — After-hours
- Palantir shares were up 1.1% after the bell, swinging between $177.70 and $187.26 in the session.
- Truist Securities initiated coverage with a buy rating and a $223 price target.
- Traders are watching Friday’s U.S. jobs report and the company’s next earnings date.
Palantir Technologies’ shares rose 1.1% to $181.69 in after-hours trading on Wednesday, after Truist Securities initiated coverage with a buy rating and set a $223 price target. The stock traded between $177.70 and $187.26 during the session.
The call lands as investors cool on an AI-led run in big U.S. tech and shift attention back to the data calendar. Traders have been using high-multiple AI software names like Palantir as a read-through on corporate spending appetite, and on how far the market will stretch for growth.
Truist pitched Palantir as a “best-in-class AI asset,” even while flagging the stock’s valuation as a sticking point for many investors. Investing.com, citing InvestingPro data, said Palantir was trading at a triple-digit price-to-earnings multiple, a common gauge that compares the share price to profit per share. Investing.com
Palantir sells software that helps customers pull data together across systems, then run analysis and models on top of it — work it has long done for government agencies and has pushed harder into for corporate clients. In its last reported quarter, Palantir forecast fourth-quarter revenue above estimates, pointing to demand tied to AI deployments.
Competition is also tightening around the enterprise AI buildout. Truist’s move came a day after reports that Accenture agreed to buy U.K.-based AI firm Faculty, a smaller rival that has worked with governments and large companies.
Next up is earnings. The company has not confirmed a date for its next report, but Wall Street Horizon lists Palantir’s next earnings date as unconfirmed for Monday, Feb. 2, after market close. Investors will be looking for U.S. commercial growth and free cash flow — cash left after operating costs and capital spending — to hold up as the stock re-prices around AI expectations.
But the valuation cuts both ways. Barron’s noted the stock has been trading at more than 70 times forward enterprise value to sales — a metric that compares a company’s value, including debt, to revenue — leaving little room for a wobble in growth or margins.
Before Palantir gets its own numbers, the market’s next test is macro: the monthly U.S. employment report is due Friday, Jan. 9, and investors are treating it as a swing factor for rate expectations and risk appetite. Any confirmation of Palantir’s earnings date, or fresh analyst actions, could also set the tone into the next session.
