New York, February 6, 2026, 10:52 EST — Regular session
Palantir Technologies Inc (PLTR.O) shares climbed 3.7% to $134.86 in Friday’s morning session, after fluctuating between $128.51 and $137.86 earlier. Around 22.8 million shares changed hands.
Palantir stumbled amid doubts over whether its new round of capital expenditures—big bets on data centers and chips—will deliver returns quickly. The stock dropped 6.8% Thursday, sliding alongside other software players like ServiceNow and Salesforce.
Friday’s rally saw Wall Street’s major indexes claw back some ground following a brutal week for tech stocks, though jitters lingered over Amazon’s new spending outlook. “There’s a stage where there’s almost unabashed enthusiasm and then there’s a period of greater discernment,” noted Kristina Hooper, chief market strategist at Man Group. Reuters
Jefferies analyst Brent Thill says there’s still downside for the stock, citing a stretched valuation despite the recent drop. “We’re making a call on valuation, not on fundamentals,” he noted Friday. Jefferies kept its underperform rating on the shares, with a $70 price target. Investing.com
Cognizant (CTSH.O) announced Thursday a strategic tie-up with Palantir to integrate Palantir Foundry and its Artificial Intelligence Platform (AIP) into Cognizant’s TriZetto healthcare platforms and business-process operations. “This partnership reflects our commitment,” said Surya Gummadi, Cognizant’s president for the Americas. Palantir’s Eric Lakin added, “Enterprise AI doesn’t fail because models are weak.” News | Cognizant Technology Solutions
Palantir revealed earlier this week that its fourth-quarter revenue jumped 70% to $1.407 billion. The company expects 2026 revenue to fall between $7.182 billion and $7.198 billion. It also set a first-quarter revenue forecast ranging from $1.532 billion to $1.536 billion.
A regulatory filing revealed Palantir director Alexander D. Moore offloaded 20,000 shares on Feb. 2 through a Rule 10b5-1 plan, a pre-arranged trading strategy. The sale prices ranged from about $146.75 to $151.14. After the transactions, Moore still held 1,172,978 shares.
But the stock’s risk isn’t just about valuation. In the UK, lawmakers and activists want the government to pause or reassess Palantir’s public-sector deals. According to The Guardian, the company has secured over £500 million in UK contracts since 2023.
Palantir remains caught between competing forces: investors crave growth, yet they swiftly penalize software stocks whenever the AI story falters or interest rate forecasts change.
The sector now faces the delayed U.S. January jobs report, set for release next Wednesday (Feb. 11) after the short federal government shutdown. This report is a crucial gauge for interest-rate bets and could ripple through high-multiple tech stocks.
