New York, Jan 7, 2026, 10:50 (EST) — Regular session
Palantir Technologies shares rose on Wednesday, keeping a fresh bid in place after a new “buy” call from Truist put the data-analytics firm back on traders’ screens.
The move matters now because Palantir is already priced like a winner. Any new sell-side support can pull in fast money, but it also tightens the market’s tolerance for a miss, especially with rate and growth bets getting reset in early January.
Wall Street was mixed as investors digested labor-market data and waited for Friday’s U.S. jobs report, a release that can swing expectations for interest rates and hit high-multiple tech names hard. Kim Forrest, chief investment officer at Bokeh Capital Partners, said investors could stay cautious and avoid “any outsized bets” ahead of that report.
Truist initiated coverage of Palantir with a “buy” rating and a $223 price target, a level it said implied roughly 28% upside to the prior close. The brokerage pointed to Palantir’s ability to knit together proprietary data for “AI-driven decision-making,” and said U.S. government revenue has climbed more than 50% since the company launched its Artificial Intelligence Platform in April 2023, with commercial revenue up 73%. Longbridge SG
In a separate note carried by Investing.com, Truist described Palantir as a “best-in-class AI asset,” while flagging the premium investors are paying: the stock was trading at a price-to-earnings ratio above 400, a valuation measure that compares the share price with profits. Investing.com
Palantir sells software used to process and analyze large pools of data for government agencies and companies. Investors have leaned on the view that its newer AI tools can move it beyond its defense roots and into broader corporate spending.
That argument has worked — but it cuts both ways. “Valuations matter,” Deutsche Bank analysts wrote recently, and Palantir’s price tag leaves little room for slower growth, a softer deal cycle, or guidance that lands even a bit short of a market used to upside.
Palantir was up 0.9% at $181.38 in morning trade, after moving between $177.70 and $181.67 earlier in the session.
The next test comes quickly: traders will watch Friday’s U.S. payrolls report for any jolt to rates, and then Palantir’s next quarterly results, which Wall Street Horizon lists as an unconfirmed Feb. 2 after-the-close event.
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