- Red-Hot Stock: Palantir Technologies (NYSE: PLTR) has been on a meteoric run in 2025 – recently trading around $190 per share, near all-time highs, after skyrocketing roughly 300% year-to-date [1]. At this price, Palantir’s market capitalization is about $400 billion, up nearly 18-fold since its late-2020 IPO [2]. It’s one of 2025’s top-performing tech stocks.
- AI-Fueled Contracts: A steady drumbeat of major AI contract wins underpins Palantir’s rally. The company secured a potential $10 billion U.S. Army deal (10-year program consolidating dozens of Army contracts) [3] [4] and a UK Ministry of Defence partnership worth up to £1.5 billion (including its largest-ever UK contract of ~£750M) [5] [6]. In October, Palantir signed a new AI defense pact with Poland’s Ministry of Defense [7] and a $200+ million commercial deal with telecom Lumen Technologies [8]. It’s also teaming up with industry leaders like Boeing (to embed Palantir’s AI in aerospace manufacturing) [9], Snowflake (integrating Palantir’s AI with Snowflake’s cloud data platform) [10], and Nvidia (leveraging Nvidia’s AI chips for enterprise analytics) [11].
- Surging Financials: Palantir’s fundamentals are rapidly improving alongside its stock price. In Q2 2025, revenue jumped 48% year-over-year to $1.03 billion (its first $1B+ quarter) and net income soared 144% [12] [13]. Management raised full-year 2025 revenue guidance to ~$4.15 billion (+45% YoY) [14]. Palantir’s new AI platform (AIP) is driving huge demand: U.S. commercial revenue climbed 71% YoY in early 2025 amid the enterprise AI boom [15] [16]. The company boasts a strong balance sheet as well, with ~$6 billion in cash and no debt [17] to fuel growth.
- Technical Momentum & Risks: Technically, PLTR stock has strong upward momentum but also signs of froth. Shares hit record highs in late October ( ~$192 intraday [18] ), riding above key moving averages with heavy trading volume. The rally hasn’t been without volatility – a brief security scare (a leaked U.S. Army memo about Palantir software) in early October sent the stock down ~7.5% in one day before it rebounded [19]. Such swings underscore that at 100×+ sales and >200× earnings valuation [20], Palantir is priced for perfection and highly sensitive to any bad news.
- AI Hype & Geopolitical Tailwinds: Palantir sits at the nexus of two powerful themes driving its surge: Artificial Intelligence and Defense. Wall Street’s 2025 “AI gold rush” has lifted any company tied to AI, and Palantir is a prime beneficiary [21] [22]. Its software’s role in real-world conflicts (Palantir’s tech has been battle-tested in Ukraine and elsewhere) has highlighted its value to governments [23]. Meanwhile, global defense spending is rising amid heightened geopolitical tensions, providing a long-term tailwind for Palantir’s government business [24]. On the commercial side, companies across industries are pouring money into AI transformation, expanding Palantir’s addressable market.
- Analyst Divide – Bulls vs. Bears: Wall Street is sharply divided on Palantir’s prospects. Bullish analysts argue Palantir is an AI leader with massive upside: Wedbush’s Dan Ives calls it “one of the best AI stocks investors can own” and even envisions a $1 trillion valuation by 2028 (roughly triple today’s value) [25] [26]. Some predict Palantir could eventually rival or surpass established software giants like Oracle if it sustains growth [27]. Skeptics, however, point to Palantir’s extreme valuation. At over 100× sales (the priciest in the S&P 500) [28], the stock assumes decades of explosive growth. An RBC analyst recently slapped an Underperform rating with a $45 target (–76% below current levels), calling Palantir’s valuation “unsustainable” without extraordinary growth [29]. The consensus analyst stance is effectively Hold, with the average 12-month price target in the mid-$150s [30] – well under the current price, reflecting caution.
- Outlook – Big Expectations: All eyes are on Palantir’s upcoming Q3 2025 earnings report (Nov 3, 2025), where analysts expect ~$1.08–1.09 billion revenue (+ ~50% YoY) and EPS ~$0.16 [31]. Given the stock’s massive run-up, any hint of slowing growth or weaker government spending could trigger a pullback [32]. In the near term, traders are watching whether Palantir can continue beating expectations and raising guidance to justify its valuation. Longer-term, Palantir’s challenge is to maintain torrid growth in both its government and commercial segments to grow into its lofty market cap. If it succeeds, bulls believe the stock’s run may be far from over; if not, the combination of sky-high expectations and competition in the AI arena could make Palantir vulnerable to a sharp correction [33].
Current Stock Performance: 2025’s Outperformer
Palantir’s stock performance in 2025 has been nothing short of extraordinary. The share price has more than quadrupled this year, making Palantir one of the top-performing stocks on the market [34]. After starting the year at roughly $45, PLTR rocketed to new records by late October – touching an intraday high around $190 and closing at an all-time high near $189 [35]. This surge translates to about a +300% year-to-date gain in 2025 [36], vastly outpacing the broader indices. By comparison, the Nasdaq Composite is up only modestly and even other “AI winner” stocks (like Nvidia or Microsoft) have lagged PLTR’s percentage gain.
Such a steep rise has catapulted Palantir into the upper echelons of tech companies by market value. At ~$190/share, Palantir’s market cap stands around $400 billion [37] – putting it on par with or above many legacy defense and software giants. In fact, Palantir’s valuation now rivals that of long-established defense contractors like Lockheed Martin and Northrop Grumman [38]. This is a remarkable feat for a company that was a mid-cap stock just a couple years ago. An investor who bought Palantir at its IPO in late 2020 (around $10) would have nearly an 18× return today [39] – turning $10,000 into roughly $180,000.
The rally has been fueled by relentless investor enthusiasm for AI and a constant stream of positive news (more on that in the next section). Notably, Palantir’s shares tend to “ride the AI wave” in lockstep with market sentiment. On days when AI bellwethers like Nvidia report blockbuster results or the market is excited about tech, Palantir often spikes in sympathy [40]. For instance, a strong earnings report from a major chipmaker in late October sent high-growth tech stocks higher – Palantir included – as traders poured into AI plays [41].
Despite the massive gains, trading in PLTR has not been a straight line up. The stock has seen spurts of volatility and occasional pullbacks, which is common for high-momentum names. Case in point: in early October a leaked U.S. Army memo raised alarm about security vulnerabilities in a Palantir system, spooking investors. Palantir’s stock plunged about 7.5% that day on the news, demonstrating how sensitive the price is to any negative headlines [42]. However, the drop proved short-lived – once the concerns were addressed, bullish buyers quickly stepped in and bought the dip, sending PLTR right back up [43]. This pattern – swift rallies punctuated by brief selloffs – has defined Palantir’s 2025 uptrend.
From a technical analysis perspective, Palantir remains in a strong uptrend. The stock trades well above its key moving averages (50-day, 200-day, etc.), reflecting strong momentum. Even after minor corrections, PLTR has consistently found support at higher levels as new investors join the fray. Trading volume has also been elevated during the rally, indicating high interest and liquidity. That said, momentum indicators have at times flashed overbought – understandable given the stock’s rapid ascent. The recent sideways churn just below ~$192 suggests a bit of consolidation near the highs [44]. In other words, after an “astonishing run” this year, Palantir’s stock took a breather in late October, hovering around $188–$190 as the market digested its gains [45].
Investors should be aware that short-term risks exist due to Palantir’s towering valuation and hype-driven nature. Any disappointment – whether a missed earnings whisper number, a delay in a big contract, or broader market rotation out of growth stocks – could spark a sharp pullback. We’ve seen that even a hint of bad news can whipsaw the stock. Still, bullish traders have so far viewed every dip as a buying opportunity, which has kept Palantir’s upward momentum intact through 2025’s ups and downs [46]. As long as the company continues delivering strong growth and AI remains the market’s favorite theme, the technical uptrend may well continue.
Latest News & Catalysts: AI Deals Galore
Palantir’s fundamental story in 2025 has been defined by a string of high-profile deals, partnerships, and product launches – all leveraging the company’s strengths in artificial intelligence and data analytics. Nearly every few weeks, Palantir has announced another major contract or strategic alliance, feeding the bullish narrative that “Palantir’s tech is in high demand” across government and industry [47]. These developments have both validated Palantir’s technology and provided tangible boosts to its financial outlook, serving as rocket fuel for the stock. Below we break down the most significant recent catalysts:
Government Contracts & Defense Wins
Palantir’s close ties to government and defense clients have historically been its backbone, and 2025 saw that backbone strengthen dramatically. The company has landed some of its largest government contracts ever this year, underscoring its growing role as a go-to provider of AI platforms for Western militaries and agencies.
- $10 Billion U.S. Army Program: In late July, Palantir secured a blockbuster 10-year contract with the U.S. Army worth up to $10 billion [48]. This is by far the biggest deal in Palantir’s history. The U.S. Army is consolidating dozens of separate data and AI projects into a single enterprise agreement with Palantir [49]. While the $10B is an ceiling (not guaranteed spend), the deal is a monumental “vote of confidence” from the Pentagon [50]. It effectively entrenches Palantir’s software as the backbone for Army intelligence and operational data integration. Importantly, this contract doesn’t immediately add $10B to revenue, but it creates a framework for the Army to greatly expand usage of Palantir’s platforms over the coming decade. The announcement of this win was met with euphoria from investors, as it affirmed Palantir’s status as a trusted partner for the U.S. military at an enterprise scale.
- UK Defence Partnership: In September, Palantir reached a landmark partnership with the UK Ministry of Defence (MoD), marking its largest non-U.S. deal to date. The multi-year agreement is valued around £750 million to £1.5 billion [51]. It will see Palantir’s AI and data software deployed broadly across Britain’s defense and intelligence operations. UK officials hailed the deal as a “major vote of confidence” in Palantir’s technology [52] [53]. Notably, the partnership also involves Palantir establishing a new London-based European AI defense headquarters, expanding its footprint. This UK pact not only brings significant revenue, but also cements Palantir’s geopolitical reach – now a key ally’s armed forces will rely on its systems. The deal was announced during a period of heightened transatlantic focus on defense tech (coinciding with a U.S. presidential visit to London), underscoring the strategic importance [54]. For investors, the takeaway was that Palantir is successfully replicating its U.S. success with other NATO-aligned governments.
- Poland Defense Deal: In October, Palantir continued its international expansion by signing a letter of intent with Poland’s Ministry of Defense [55]. This agreement, announced on Oct. 27 in Warsaw, paves the way for Palantir to provide AI-driven data analytics and cybersecurity systems to Poland’s military – giving Palantir a strategic foothold on NATO’s eastern flank [56]. Poland has been ramping up defense modernization (in part due to regional security concerns), so this partnership aligns Palantir with those efforts [57] [58]. While specific financial terms weren’t disclosed, the news of Palantir’s deeper push into Eastern Europe was enough to boost the stock about 1% on the day [59]. It signals that Palantir’s international pipeline remains strong. From a geopolitical context, having Poland (a frontline NATO state) adopt Palantir’s AI tools is significant – it showcases Palantir’s relevance amid the ongoing Russia–Ukraine conflict and NATO’s focus on advanced analytics for defense.
- Other U.S. Federal Wins: Palantir hasn’t slowed down on smaller U.S. agencies either. In early October alone, it secured a $385 million contract with the Department of Veterans Affairs to modernize data for veterans’ healthcare, and a ~$30 million contract with U.S. Immigration and Customs Enforcement (ICE) [60]. While these are much smaller than the Army deal, they expand Palantir’s reach into new areas (VA healthcare systems, law enforcement data analytics) and add stable, recurring revenue. The cumulative effect is that Palantir is becoming embedded across the U.S. government – from defense and intelligence to health and border security.
Collectively, these government deals deliver a clear message: Palantir’s software is becoming mission-critical for government AI applications. The U.S. Army and UK MoD contracts, in particular, were seen as game-changers that validate Palantir’s Gotham/Foundry platforms at the highest levels [61] [62]. Each major win has been greeted by investors as proof of Palantir’s competitive edge and a harbinger of more to come. This “drumbeat” of contracts (almost one major announcement every month in 2025) has kept Palantir’s storyline very bullish [63] [64].
AI Partnerships & Product Developments
Beyond direct contract revenue, Palantir has also been striking alliances with industry players and rolling out new AI capabilities that expand its addressable market. These moves strengthen Palantir’s position in the broader tech ecosystem and have contributed to positive investor sentiment:
- Snowflake Partnership: In mid-October, Palantir announced a high-profile partnership with Snowflake (NYSE: SNOW), a leading cloud data warehousing company. This strategic tie-up will integrate Palantir’s Artificial Intelligence Platform (AIP) with Snowflake’s Data Cloud [65]. In practice, it means joint customers can use Palantir’s advanced AI/analytics tools directly on data stored in Snowflake, without needing to migrate databases. The collaboration was very well-received: Snowflake’s stock even got a small bump on the news [66], and analysts saw it as a win-win. For Palantir, teaming up with a cloud powerhouse validates its tech in mainstream enterprise IT and opens access to Snowflake’s large base of corporate customers [67]. It essentially plugs Palantir into the broader enterprise data ecosystem, which could drive more commercial business. This partnership also signals that Palantir is not positioning itself as an enemy to cloud providers, but rather as an augmentor that can layer AI on top of others’ data platforms.
- Nvidia Alliance: Palantir has joined forces with Nvidia (NASDAQ: NVDA) – the premier AI chipmaker – to turbocharge its offerings for commercial clients. In late October, the two companies announced a deal whereby Palantir will incorporate Nvidia’s cutting-edge GPUs and software into Palantir’s platforms to speed up complex data processing and AI decision-making for enterprises [68]. Known for its defense work, Palantir is using this Nvidia partnership to bolster its appeal to corporate customers in areas like supply chain logistics. For example, by leveraging Nvidia’s AI, Palantir can help companies rapidly re-route shipments or optimize operations in real time when disruptions occur [69] [70]. Nvidia’s VP of Enterprise AI noted this enables running supply chain optimizations hourly instead of weekly, unlocking huge efficiency gains [71]. The financial terms weren’t disclosed [72], but the strategic value is clear: Palantir gains access to state-of-the-art AI hardware/software, while Nvidia expands its enterprise reach through Palantir’s applications. This collaboration underscores how Palantir is extending its technological edge by partnering with AI infrastructure leaders. It also highlights Palantir’s push to show that it’s not just for government – it can solve hard business problems too, with help from partners like Nvidia.
- Commercial “Mega-Deal” (Lumen): In October, Palantir announced a multi-year partnership with Lumen Technologies (a major telecom/networking provider) to integrate Palantir’s AI into Lumen’s services. Lumen committed over $200 million to Palantir’s software as part of this deal [73]. The goal is to offer Lumen’s enterprise customers vastly improved data analytics on their network operations – the companies touted making big data analysis “200× faster” across distributed networks by combining Lumen’s fiber infrastructure with Palantir’s AI platforms [74]. For Palantir, this pact is significant because it’s a substantial foray into the telecom sector and edge computing. It shows Palantir can expand beyond its core government niche into powering AI for communications networks and large enterprises. Investors were impressed by the size of the contract (nine figures from a private-sector client) and what it says about Palantir’s commercial traction. It’s worth noting that Palantir’s commercial revenue growth had lagged government in past years, but deals like Lumen’s suggest the company is catching fire in the enterprise market as well.
- Boeing & Industrial Partnerships: Palantir scored a notable win in the industrial sector through a new alliance with Boeing’s Defense, Space & Security division. Boeing agreed to integrate Palantir’s AI-driven Foundry platform into its manufacturing and supply chain operations [75]. Boeing’s defense chief called Palantir’s system “game-changing,” saying it enables decision-making “not in weeks, but in days and hours” by speeding up data analysis [76]. An endorsement from a storied aerospace giant like Boeing boosted Palantir’s credibility in the industrial manufacturing arena [77]. It suggests that Palantir’s software can drive efficiencies even for top-tier engineering firms. This partnership likely won’t move revenue needles as much as some government deals, but strategically it’s an important reference customer for Palantir to showcase in the private sector.
- AIP and Product Advancements: Underpinning many of these partnerships is Palantir’s Artificial Intelligence Platform (AIP) – a suite that allows organizations to deploy large language models and AI agents on their private data in a secure, controlled way. Palantir only launched AIP in 2023, but it has quickly become central to Palantir’s pitch. In 2025, AIP adoption has been soaring as companies look for enterprise-ready AI solutions. For example, Palantir’s customer count jumped 43% year-over-year in Q2, and the company reported $2.3 billion in new orders that quarter (+140% YoY) – much of that driven by demand for its AI platforms [78] [79]. AIP essentially supercharges Palantir’s existing products (Foundry, Gotham) with generative AI capabilities, allowing users to converse with their data and automate decisions. Management has noted that AIP dramatically improves the unit economics of Palantir’s business (AI features can be sold across many clients at high margins) [80] [81]. In concrete terms, Palantir’s revenue growth accelerated to +44% in the first half of 2025 (vs ~15% pre-AIP) [82], and its net income more than doubled (+125% in H1 2025) in part due to the “AIP effect” [83] [84]. The company continues to roll out new AIP modules (for example, an AIP Document Intelligence tool was announced in October 2025 to help analyze content in documents). Palantir’s ability to rapidly productize AI features and cross-sell them is a key reason it’s outpacing many competitors on growth.
In summary, Palantir’s flurry of news in 2025 – from multi-billion government contracts to alliances with Snowflake and Nvidia – has reinforced the narrative that Palantir is at the center of the AI revolution. Practically every major announcement has served as a catalyst for the stock, providing fundamental justification for the exuberant market cap. The deals span both Palantir’s traditional stronghold (government/defense) and new frontiers (cloud, telecom, manufacturing), which is crucial for its long-term story. By expanding across sectors, Palantir is showing it can “fire on both cylinders” – government and commercial [85]. This diversified momentum is exactly what excites bulls, as it suggests Palantir’s growth runway is not limited to a single arena.
It’s also worth noting the macro context of these developments. The world in 2025 is seeing booming demand for AI across industries and a heightened emphasis on defense modernization due to geopolitical tensions. Palantir sits squarely at the intersection of those trends. Governments are racing to invest in AI-enabled defense capabilities (to maintain strategic advantages), and Palantir is a prime beneficiary of that arms race [86]. Simultaneously, corporations are adopting AI to stay competitive, and Palantir is capturing that enterprise AI spending too. In a sense, Palantir’s recent success is a case of being the right company with the right products at the right time – a convergence of technology and global needs that has supercharged its business.
Fundamental Analysis: Financial Growth vs. Valuation
Palantir’s financial performance has markedly improved in 2025, validating a lot of the hype around its business – but its valuation has surged even more, raising questions about how much of the good news is already priced in. Here we delve into Palantir’s fundamentals, including revenue/profit trends and whether the stock’s fundamentals justify the current $400B valuation.
Explosive Revenue and Earnings Growth
After years of more modest growth, Palantir’s growth rates have accelerated dramatically thanks to AI tailwinds. The company has now strung together multiple quarters of re-accelerating revenue, coupled with its first sustained profits:
- Revenue: In Q2 2025, Palantir’s revenue reached $1.03 billion, up 48% year-over-year [87]. This was a milestone quarter – the first time Palantir’s sales topped $1B in a single quarter [88]. For context, Palantir’s revenue in all of 2022 was about $1.9B, so hitting $1B in one quarter shows how far the business has come. The company’s growth has dramatically accelerated from the ~20-30% range in 2021–2022 to around 45-50% in 2025 [89] [90]. In fact, revenue for the first half of 2025 was $1.89B (+44% YoY) – compared to just 15% growth in the first half of 2023 [91]. This inflection is largely attributed to surging demand for Palantir’s AI offerings (AIP) and success in closing those big contracts we discussed. Palantir’s management was confident enough to raise full-year 2025 guidance to ~$4.15 billion, which would be ~45% growth over 2024 [92]. Analysts note this kind of growth acceleration is rare for a company of Palantir’s size and signals strong product-market fit in the AI era.
- Profitability: Perhaps even more striking, Palantir has morphed into a profitable company after a long history of losses. In Q2 2025, Palantir’s net income soared +144% year-on-year [93]. For the first six months of 2025, Palantir earned $541 million in net income (GAAP), more than double the prior year (+125% YoY) [94] [95]. The company’s GAAP operating margins have expanded rapidly as revenue scales and as stock-based compensation (a big expense historically) was reined in. Q2 2025 was Palantir’s third consecutive GAAP-profitable quarter, confirming that the business has reached an inflection point where it can grow and generate real earnings. GAAP EPS came in at $0.13 for Q2 and the company is on track for ~$0.50 GAAP EPS for full-year 2025 if trends hold [96]. On an adjusted basis (excluding one-time items and stock comp), Palantir’s operating income and free cash flow are also surging. The company even increased its adjusted operating income outlook for 2025 to ~$1.91B [97], reflecting very high incremental margins on new revenue. In short, Palantir has proven that its business model can be highly profitable at scale – a critical factor for long-term investors.
- Business Mix: Palantir’s growth is coming from both sides of its business – Government and Commercial. U.S. government revenue remains Palantir’s single biggest slice (and grew 53% YoY in Q2) [98], boosted by defense contracts. But notably, Palantir’s U.S. commercial segment has become a growth engine as well, thanks to AIP and new clients. U.S. commercial revenue was up 71% YoY in Q1 2025 [99], and the company cited broad strength among large corporations adopting its AI platforms. Palantir has also grown its customer count sharply (total customers up 43% YoY in Q2) [100], indicating it’s not just squeezing more from existing clients but also adding many new ones. Its top 20 customers spent 30% more in aggregate than a year prior [101], showing that as Palantir proves its value, clients expand their contracts. Another positive sign: Palantir’s Remaining Deal Value (backlog of contracts) and billings have climbed rapidly – e.g. $2.3B in new orders in Q2, which actually exceeded that quarter’s revenue [102]. That leads to high forward visibility on revenue. With the huge Army deal and others, Palantir’s backlog likely sits well above $5B now (though some of that is long-dated).
- Margins and Cash Flow: As mentioned, Palantir’s profitability metrics have improved significantly. Gross margins have always been high (~80%+), given it’s software, but now operating margins are rising as operating costs grow slower than revenue. The company’s adjusted operating margin was ~31% in Q2, up from 23% a year ago [103]. Free cash flow has been robust (Palantir was already FCF-positive even when GAAP losses were happening). Palantir generated hundreds of millions in free cash in recent quarters, and it’s using very little capex since most costs are R&D and cloud infrastructure (OpEx). The balance sheet is a source of strength: Palantir has about $6 billion in cash and short-term investments and essentially zero debt [104]. This war chest means Palantir can invest in R&D aggressively, pursue strategic acquisitions or partnerships, and weather any economic downturn. (It also means Palantir can afford to be patient with monetizing big contracts – e.g. some government deals start small and ramp up – without worrying about liquidity.)
Overall, Palantir’s recent financial results paint the picture of a company hitting an inflection point – revenue growth is accelerating and profits are rapidly improving, an attractive combination. Few companies at $4B+ revenue are growing ~45-50% YoY; even fewer of those are solidly profitable. This fundamental momentum provides credibility to the bullish case that Palantir is emerging as a dominant AI platform provider.
Valuation Concerns
The flip side of Palantir’s meteoric rise is that the stock now carries extremely rich valuation multiples. Investors are effectively paying today for earnings far, far into the future – a stance that assumes Palantir will continue its current growth trajectory for many years. Here are some valuation perspectives:
- Price-to-Sales (P/S): At ~$190/share, Palantir’s market cap ~$400B is more than 100 times its expected 2025 revenue (~$4B). That’s a P/S >100×. According to Reuters and S&P data, Palantir at mid-2025 traded around 110–130× trailing sales, the highest ratio in the S&P 500 index [105] [106]. Even after the Q3 report (which will increase the “S” in P/S), the multiple will remain extraordinarily high. For context, other high-growth software peers typically trade at 15–30× sales in this market, and the broader market is under 3–5×. Even NVIDIA – which had its own massive AI-driven surge – trades around ~20× sales, a fraction of Palantir’s multiple [107]. This highlights how much optimism is baked into Palantir’s stock. It’s worth noting that Palantir’s P/S wasn’t always this high; it expanded dramatically in 2023–2025 as the stock ran up faster than revenue. Bulls argue that Palantir deserves a premium because of its unique position and 40%+ growth, while bears warn that such valuations are “unsustainable” and leave no room for error [108] [109].
- Price-to-Earnings (P/E): Since Palantir only recently turned GAAP profitable, the P/E is sky-high (well over 200× based on forward 2025 earnings). Traditional investors would consider that off the charts. Palantir’s forward P/E might moderate to somewhere in the 150–200× range if 2026 earnings ramp up, but that’s still an astronomical multiple. By comparison, most large-cap tech stocks trade at 20–50× earnings. Even other growth darlings like Snowflake have a forward P/E around 150× (for 2025) [110] – lofty, but still lower than Palantir’s. The only stocks with comparable P/Es are often smaller biotech or early-stage firms – not companies nearing $5B in annual revenue. This again shows that Palantir is priced more like a startup with enormous growth ahead than a mature software firm.
- Free Cash Flow Yield: One could argue Palantir’s valuation in terms of free cash flow. If Palantir hits ~$1.5B in annual free cash flow (which is plausible given their margins and $4B+ revenue run-rate), a $400B market cap implies a FCF yield under 0.4%. That’s extremely low (inverse of a P/FCF over 250). It indicates investors are willing to accept almost no immediate cash return, expecting that FCF will multiply in the future as Palantir scales.
- Comparisons: Let’s compare Palantir’s valuation to a couple of peers:
- Snowflake (SNOW): Another data-focused AI-benefiting stock. Snowflake’s market cap is about ~$90B as of Oct 2025 [111], on track for ~$2.5B revenue this year. That’s roughly a 36× sales multiple (or ~20× if using next year’s revenue) – rich, but much lower than Palantir’s 100×. Snowflake’s forward P/E is ~150 [112] (they have smaller profits). In the last quarter, Snowflake’s non-GAAP earnings nearly doubled (+100% YoY) whereas Palantir’s bottom line jumped ~78% [113]. Both are growing fast, but Palantir’s stock carries a significantly higher premium. Snowflake is often cited as expensive, yet Palantir makes SNOW look almost value-priced in comparison. This suggests Palantir may be overextended valuation-wise unless its growth truly outpaces Snowflake’s by a wide margin going forward.
- IBM (IBM): A legacy tech giant also involved in AI and defense. IBM’s market cap is about $250B [114] and it’s growing ~8% a year (with a lot of profit). IBM’s P/S is around 3–4× and P/E ~15–20× – very low relative to Palantir. Of course, IBM is a slower growth, diversified company. But the contrast is stark: Palantir at $400B is valued ~1.5× IBM’s size even though IBM’s annual revenue ($60B+) is more than 10× Palantir’s. Some analysts have noted that while Palantir is the “flashy new AI star,” IBM has been a steady winner too (IBM shares +20% in the past year vs. PLTR +400%) [115]. The takeaway is that Palantir’s valuation implies it will very quickly narrow that revenue gap with incumbents like IBM – a feat that, while possible, is by no means guaranteed.
In summary, Palantir’s valuation leaves little margin for error. The stock is priced as if explosive growth will not only continue for a few years, but persist for a very long time. To justify a $400B valuation on fundamentals alone, one could argue Palantir needs to reach $40B in annual revenue within a decade (assuming a more reasonable 10× multiple by then). $40B revenue would mean ~10× growth from the ~$4B expected in 2025. Is that achievable? Possibly – Palantir is riding a huge AI wave and tapping large markets – but it assumes near flawless execution, continued AI adoption growth, and fending off competition.
Bulls counter that Palantir has a “winner-takes-most” dynamic in certain markets (defense, intelligence) and thus can sustain high growth and margins, warranting the premium. They point to Palantir’s unparalleled position bridging Silicon Valley software and Pentagon operations, calling it an “ultimate growth stock” despite the high P/S [116]. Some bulls are frankly unfazed by the multiples, arguing that Palantir’s momentum and strategic importance justify paying up [117].
Bears and value-oriented analysts, on the other hand, warn that the stock’s valuation is running far ahead of fundamentals. They often cite examples of prior hype cycles where stocks priced to perfection eventually crashed back to earth. In their view, Palantir’s current pricing already assumes it becomes one of the largest software companies in the world within a few years – any hiccup in growth or deal pipeline could lead to a painful de-rating. As one bearish analyst quipped, “not everyone will be comfortable paying the sky-high valuation Palantir trades at” [118], even if they admire the company.
The truth may lie somewhere in between: Palantir clearly has real growth and real profits now, unlike some bubble stocks, which gives it some fundamental underpinning. But the stock’s risk/reward has become much more balanced at these levels compared to when it was, say, under $50. Going forward, investors will likely scrutinize each earnings report and contract announcement to gauge whether Palantir can grow fast enough to eventually “earn into” its valuation – or whether expectations have overshot reality.
Outlook and Forecasts: How High (or Low) Could PLTR Go?
What’s next for Palantir’s stock? Given the astonishing run-up, the burning question for many is whether PLTR can keep climbing or if a pullback is on the horizon. Short-term catalysts like earnings and contract news will play a big role, as will the overall market’s appetite for AI stocks. Meanwhile, long-term projections range widely – from cautious 1-year targets suggesting decline to uber-bullish scenarios of Palantir being one of the world’s most valuable companies by decade’s end. Let’s examine the forecasts and commentary from various experts:
Near-Term (Next 3–12 Months)
In the short run, a lot hinges on Palantir’s ability to meet or beat lofty expectations in upcoming quarters. The next catalyst is Q3 2025 earnings (due Nov 3). Wall Street consensus is around $1.08–$1.09B revenue and $0.15–0.17 EPS [119], which implies ~50% YoY growth and improving margins. Hitting those numbers (or preferably exceeding them) will be important to justify the stock’s recent surge. If Palantir delivers another “beat and raise” – e.g. topping forecasts and guiding Q4 or full-year higher – bulls would argue the momentum can continue. In that scenario, it’s conceivable PLTR shares could push to new highs above $200 in the coming months, especially if broader market sentiment remains positive.
However, any disappointment could have an outsized impact. With the stock “priced for perfection” [120], even a slight slowdown in growth or a conservative guidance outlook might spook investors. For example, if Q3 revenue growth comes in the low-40% range instead of ~50%, or if government deals show signs of pausing, the stock could quickly correct as high-fliers often do. Palantir’s own management has been cautious not to over-promise, but expectations on the Street are undeniably high.
Wall Street analysts’ 1-year price targets reveal a broad spectrum but tilt to the downside relative to current prices. The median analyst target is in the mid-$150s [121] per share, well below ~$190. In fact, according to recent surveys, not a single major brokerage has a price target above the current market price – a sign that even bullish analysts think a lot of optimism is already reflected. Many analysts have simply been playing “catch-up” as the stock ran far past their targets.
Several high-profile analysts remain skeptical in the near term:
- Investment bank RBC, as noted, reiterated an Underperform rating with a mere $45 target [122]. That is an extremely bearish outlook (implying –75% downside). RBC’s thesis is that Palantir’s valuation is absurdly stretched and that as the initial AI euphoria fades, the stock could revert to a more reasonable multiple. They also worry that much of Palantir’s growth is already known and that competition or government budget shifts could surprise to the downside.
- Another research outfit’s model (cited by TS2) projected Palantir could fall to ~$120 within a year, which would be about 30% lower than current levels [123]. This forecast assumes that the market will start valuing Palantir on a more normal metric (perhaps ~30x forward sales or a PEG ratio near 1) once the growth decelerates to more sustainable levels. Under that view, Palantir might give back some of 2025’s gains.
- Even some moderately bullish analysts have tempered their enthusiasm, moving to Hold ratings simply because of valuation. The consensus seems to be that Palantir will trade range-bound or lower in the next 6–12 months unless fundamentals surprise dramatically on the upside. Essentially, a lot of good news is “priced in,” so the bar is high for further stock appreciation soon.
Of course, there are still bulls who see more upside ahead in the short term. They argue that momentum is a powerful force and that as long as Palantir keeps announcing big wins (and perhaps an earnings beat or two), the stock could squeeze higher. Some point to the fact that Palantir is a favorite among certain retail investor circles and even institutional growth funds now, meaning dips could be shallow. It’s not out of the question that positive news – say a huge new contract announcement or an earnings blowout – could spark another rally leg. For instance, if Palantir were to significantly raise its 2025 outlook to, say, $4.5B revenue or more, one could justify higher targets.
All told, the near-term outlook is cautiously optimistic but with elevated risk. The stock’s trajectory will likely be volatile, reacting strongly to each news item:
- Upside catalysts: Earnings beats, big contract announcements (e.g. a rumored U.S. Air Force deal or a large new commercial client), continued AI hype, or a tech market rally could push PLTR higher.
- Downside catalysts: Earnings miss or just meeting high expectations, any guidance below ~40% growth, negative press (security issues, political pushback on gov contracts), insider selling, or a general market rotation out of high-valuation stocks could send PLTR lower quickly.
Long-Term (2026 and Beyond)
When extending the view to several years, forecasts diverge even more dramatically. The key question is: How big can Palantir get, and how fast? Here are some prominent viewpoints:
- The Super-Bull Case: Some experts and investors foresee Palantir becoming one of the defining tech companies of the next decade – essentially, an “AI titan” on par with the Oracles and Salesforces of the world, or even the mega-caps like Google in terms of influence. Wedbush’s Dan Ives, one of the most outspoken bulls, predicts Palantir could reach a $1 trillion market cap by 2028 [124] if it executes well. That would mean roughly ~$500 per share or about 3× the current value in just three years – an aggressive target. The rationale for such optimism is that Palantir might continue compounding growth ~40-50% annually, leveraging its first-mover advantage in enterprise/government AI. Under this scenario, Palantir would be generating perhaps $15–20B in annual revenue by 2028 and earning high profit margins, which could indeed support a near-$1T valuation. Bulls also argue Palantir has optionality – it could create new products, enter new industries, or raise prices given its strategic importance, further boosting future revenues. Some have even speculated Palantir might surpass Oracle’s market value by 2030 if it dominates the government AI segment (Oracle’s market cap as of 2025 is around $300B) [125]. In essence, the super-bull case sees Palantir as an entrenched platform powering AI for a huge swath of the public and private sector, making it nearly indispensable (and enormously valuable) in the AI age.
- The Moderate Growth Case: A more measured outlook acknowledges Palantir’s strengths but expects growth to gradually normalize. Many analysts forecast that after 2025’s spurt, Palantir’s revenue growth might settle in the ~30% range by 2027 and ~20-25% by 2030 as the law of large numbers kicks in [126]. That would still be excellent, but not enough to sustain a 100× sales multiple. In this scenario, Palantir could plausibly deliver ~$8–10B revenue by 2027 and perhaps ~$15B by 2030. If we assume solid net margins by then (say 25-30%), Palantir might earn ~$4B profit in 2030. A market average multiple (20-25× earnings) on that would give a valuation around $80–100B. Even a premium multiple (let’s say 40×) would be $160B – far below the current $400B. This is why some long-term oriented skeptics think Palantir’s stock price eventually has to “come back to earth” unless it wildly outperforms these moderate assumptions. They see Palantir as a great company whose stock got ahead of itself. For instance, financial models on Seeking Alpha or 24/7 Wall St. have suggested a fair value in the $100–$150 range based on high growth but more reasonable multiples [127]. That implies the stock could stagnate or decline over the long term as fundamentals catch up, even if the business does well.
- Competitive and Execution Risks: Longer-term, the forecasts also depend on competition. Right now Palantir is virtually synonymous with “AI for defense” and has a strong niche in enterprise analytics, but competition is rising. Established defense contractors (Lockheed, Raytheon) and consulting giants (Accenture, IBM) are all investing in AI offerings for governments – though they lack Palantir’s software focus. In the commercial sphere, Palantir will have to compete or coexist with cloud providers (like Amazon AWS, Microsoft Azure offering their own AI tools) and platform companies like Snowflake. It is encouraging that Palantir is partnering with some (e.g. Snowflake, IBM on certain projects) rather than fighting everyone. But there is a risk that as AI matures, more competitors nibble at parts of Palantir’s turf or pressure its pricing. If competition slows Palantir’s customer wins or forces pricing concessions, that could lead to lower growth or margins by late 2020s than the bull case assumes. Additionally, Palantir must execute on scaling up – delivering on big contracts, supporting more customers, and innovating rapidly. So far it has, but growing pains could emerge. Any such issues would lend credence to the moderate growth forecasts.
- Analyst Consensus: At the moment, Wall Street’s published long-term forecasts (few go beyond 1-2 years explicitly) generally show growth decelerating but remaining high for a few years, with profitability expanding. For example, analysts expect Palantir’s EPS to roughly double by 2027 versus 2025 levels [128]. Revenue is expected to grow ~35–40% in 2025, ~30% in 2026, and high-20s% in 2027, per consensus models [129]. If Palantir can indeed grow ~30% annually through 2030, it would justify a premium valuation – just maybe not as extreme as currently. A lot depends on the overall AI spending boom – if the total market for AI software really expands at ~40% CAGR (as one estimate suggests, reaching $150B+ by 2028) [130], Palantir has a big opportunity to grab a share of that. It currently has maybe ~2% of that estimated 2028 market, leaving plenty of room if it executes well.
In simpler terms: Bulls envision Palantir as a potential trillion-dollar company later this decade, riding an unprecedented wave of AI adoption across every industry. Bears (or realists) think Palantir is great but likely to top out far lower – maybe it’s a $100–200B company once things normalize, meaning the stock would eventually settle or retreat.
One interesting comparison floated by some analysts is with chipmakers like AMD or ASML. Those companies (with market caps ~$350–400B in 2025) are also major AI beneficiaries and have tangible products (semiconductors) driving their growth. Some Nasdaq.com analysis noted that AMD (+40% in just October 2025 on its own AI win) and ASML could “easily pass Palantir’s ~$426B valuation by late 2026” as their earnings catch up [131] [132]. In other words, some see Palantir’s current value as likely to be surpassed by more fundamentally grounded peers in coming years. This isn’t a knock on Palantir’s business, but an argument that perhaps other AI plays (like chipmakers) offer better risk/reward now after Palantir’s huge run. Indeed, some analysts have outright said they prefer selling Palantir to buy names like AMD or ASML at this point [133], since those have high growth plus more reasonable valuations.
Bottom Line on Forecasts
Palantir’s stock forecast is a tale of two narratives. Short-term, the stock could continue to swing on sentiment – potentially climbing higher if the AI hype and contract wins persist, but also at risk of a sharp correction if Palantir stumbles or if the market’s focus shifts. Traders should brace for volatility around events like earnings (Palantir’s own management has hinted the stock could be volatile given its pattern around past earnings) [134].
Long-term, the conviction in Palantir as a transformative company is strong among its supporters, but the valuation leaves zero room for anything less than stellar execution. A reasonable approach might be to expect that Palantir will indeed grow into a much larger business by 2030, but perhaps the stock may spend some time digesting its 2025 gains unless growth wildly exceeds even current projections. It’s not uncommon for explosive stocks to enter multi-year consolidations. Alternatively, if Palantir truly becomes the “indispensable AI provider” to governments and Fortune 500s that bulls claim, today’s $190 could look cheap in hindsight.
Investors will be watching several key indicators for Palantir’s future trajectory:
- Can revenue growth remain above ~40% for the next few years? Sustaining hypergrowth is critical to underpin the valuation.
- How successful will Palantir be in converting its enormous deal pipeline (like that $10B Army deal) into actual revenue and cash flow?
- Will margins continue to improve, proving the business can scale efficiently? Palantir’s target is likely to show >30% operating margins long-term; hitting that would support higher earnings.
- Does Palantir maintain its technological edge in AI? The company must keep innovating (improving AIP, developing new AI tools) to stay ahead of competitors in a fast-moving field.
- Are there any external risks – for example, changes in government leadership or policy that could affect contracts, or macroeconomic shifts that dry up tech spending? Palantir is somewhat exposed to political risk given its government focus (though its bipartisan utility has so far kept it in favor).
At the end of the day, analyst quotes capture the dichotomy: One calls Palantir “one of the best AI stocks” with “its valuation rising toward $1T by 2028” [135], while another calls it “wildly overvalued… unsustainable absent extraordinary growth” [136]. The reality will likely hinge on how the next couple of years unfold in terms of AI adoption and Palantir’s execution. Investors should stay tuned to each earnings report and major contract announcement – those will be the signposts determining if Palantir can live up to its sky-high expectations.
Competition and Peers: How Palantir Stacks Up
Palantir often draws comparisons to a mix of tech peers – from up-and-coming data platform companies to established enterprise and defense contractors. While Palantir is somewhat unique (few firms have its mix of government and AI focus), it’s useful to see how it measures against key competitors and sector alternatives:
- Snowflake (Data Cloud Rival & Partner): Snowflake, a cloud data warehousing firm, is both a collaborator (as of the new partnership) and a competitor in helping enterprises manage data. Both companies are riding the AI wave, albeit from different angles: Palantir provides end-to-end analytics solutions (including AI model integration) often on top of data, while Snowflake provides the data infrastructure and now some AI tooling within it. In terms of stock, Palantir has vastly outperformed Snowflake in 2025 – Palantir +300% YTD vs Snowflake roughly +50% YTD (Snowflake’s market cap is about $90B) [137] [138]. Snowflake’s revenue growth (~30-35%) is slower than Palantir’s (~45%+), but Snowflake’s addressable market in cloud data is enormous and it has a broader customer base (~12,000 customers vs Palantir’s few hundred top customers) [139] [140]. One crucial difference is valuation: Palantir’s P/S is over 100, whereas Snowflake’s is around 20 [141] [142]. Snowflake is still considered expensive, but Palantir’s multiple is in another stratosphere. From a product perspective, Snowflake’s strength is in general-purpose data storage and analytics, now adding AI features, whereas Palantir’s strength is in delivering immediate, actionable insights (often in mission-critical scenarios) with AI. They may increasingly overlap as Snowflake adds more AI apps and Palantir integrates with more data clouds. But the recent partnership indicates they see value in complementing each other rather than head-on competing. For investors, Snowflake offers a somewhat more traditional growth stock profile (solid growth, high but not insane valuation), whereas Palantir is the high-beta, high-multiple bet on something truly transformative.
- IBM (Defense/AI Incumbent): IBM represents the old guard that is also pivoting into AI and defense analytics. Both IBM and Palantir are profiting from rising government AI spending [143]. IBM has been involved in defense contracts (e.g., it won a $576M Pentagon chip R&D contract last year) [144] and offers AI solutions like Watsonx and hybrid cloud infrastructure via Red Hat for military use [145]. However, IBM is a diversified behemoth; AI is just one part of its business. Palantir, in contrast, is a pure-play AI software firm deeply specialized in data integration and analysis for intel and business ops. Palantir’s agility and focus have allowed it to outpace IBM in terms of innovation in that niche, which is why the U.S. Army chose Palantir over legacy contractors for some intelligence systems. In terms of financials, IBM’s revenue (~$60B annually) dwarfs Palantir’s, but IBM’s growth is slow single-digits, whereas Palantir is growing ~50% [146]. Stock-wise, as noted, Palantir’s market cap has overtaken IBM’s ($400B vs ~$250B) after its huge run [147]. IBM’s stock is up about 20% in the past year, a decent return for a blue-chip [148], but nothing like Palantir’s 400% explosion. Valuation is the biggest differentiator: IBM trades at perhaps 3–4× sales and ~15× earnings, reflecting its stability and lower growth, whereas Palantir is at triple-digit multiples. One could argue they appeal to entirely different investor profiles (value/dividend vs high-growth). Notably, IBM and Palantir have cooperated at times (IBM has integrated Palantir in its cloud Pak solutions in the past). Both are poised to benefit from Pentagon tech modernization – one with hardware/services (IBM) and one with software/AI (Palantir) [149]. For a long-term investor, the question might be: will Palantir’s growth justify its massive premium over an IBM? Or will giants like IBM eventually leverage their resources to challenge Palantir’s lead in defense AI? So far, Palantir’s singular focus has given it an edge in winning cutting-edge projects.
- Other AI Software Players: There are a few other names in the “enterprise AI” or big data analytics space worth mentioning:
- C3.ai (NYSE: AI): C3 is a smaller company that sells AI software platforms to enterprises. It had a lot of hype (even ticker “AI”), but its growth and execution have lagged Palantir’s. C3’s stock saw spikes with AI buzz but hasn’t sustained like PLTR. Palantir is often seen as the stronger player with more real-world deployments, whereas C3.ai has struggled to scale.
- Oracle, Microsoft, Google: These mega-cap tech firms are increasingly pushing into AI for enterprises too. Oracle’s cloud and database business now touts AI integrations, and Oracle’s stock has climbed ~70% in 2025 in part due to AI enthusiasm [150]. Microsoft and Google offer AI and cloud data services that could overlap with some of Palantir’s functionality. However, Palantir often works on top of Azure or AWS (Palantir’s software can be deployed on those clouds) rather than directly against them. Still, if those giants build more out-of-the-box AI analytics solutions, it could pose competition.
- Defense Contractors: Traditional defense firms (Lockheed, Northrop, etc.) have their own command-and-control systems and are integrating AI. They sometimes partner with Palantir or compete for the same contracts. For example, Palantir beat some incumbents for the Army’s data platform deals, but it might also partner with them on large programs (providing software while they do hardware). Palantir’s advantage is its Silicon Valley tech DNA, whereas many defense contractors are more hardware-focused. It’s likely Palantir will continue to win tech-centric defense deals, while leaving things like weapons systems to the traditional firms.
Given these comparisons, Palantir’s key competitive advantages appear to be:
- First-mover reputation in deploying operational AI at scale for government – references like the US and UK military give it credibility others can’t match easily.
- A unified platform (Gotham/Foundry/AIP) that is immediately usable for complex problems, whereas competitors often provide tools that require more integration by the client.
- A dual focus on government and commercial means it learns from both sectors and can cross-pollinate solutions.
- Now, a growing partner ecosystem (as seen with Snowflake, IBM, Cloud providers) that may actually turn some potential competitors into collaborators.
On the flip side, Palantir’s challenges include:
- Justifying its cost – it’s known to be expensive; competitors could undercut on price if their offerings get “good enough.”
- Avoiding commoditization – as AI tech matures, some features Palantir offers might become standard elsewhere.
- Political risk – unlike, say, Snowflake which has no controversial image, Palantir has faced scrutiny for its work with intelligence agencies, police, etc. Public sentiment or regulatory changes could impact some contracts (though so far it hasn’t significantly).
In conclusion, while Palantir currently stands out among peers due to its stock performance and strategic positioning, it operates in a competitive landscape with both legacy giants and nimble tech firms. So far, none have derailed Palantir’s ascent – if anything, many peers are now playing catch-up or choosing to partner. But competition will be an important factor to watch as the company grows. If Palantir continues executing well, it may maintain a lead in its niche akin to an “AI operating system” for large organizations. That could help defend its high valuation. If not, any signs of others eating into its market could amplify the case of those who say Palantir’s stock is overhyped relative to less glamorous, but perhaps equally promising, AI plays.
Conclusion
Palantir Technologies has undeniably had a breakout year in 2025, evolving from a somewhat speculative bet into a headline-grabbing AI leader with the financial results – and stock price – to prove it. The company finds itself at the confluence of powerful forces: governments doubling down on AI-driven defense and security, corporations seeking to harness big data with AI, and investors hungry for the next big tech success story. This fortunate positioning, combined with Palantir’s execution in landing major deals and delivering rapid growth, has led to its stock soaring to heights few could have imagined a couple of years ago.
However, the journey from here could be more challenging. Palantir is no longer an underdog – it’s a $400B titan in the making, and with that status comes intense scrutiny. The stock’s current valuation assumes that Palantir will continue to dominate and innovate in the AI space without faltering. Any stumble or even a leveling off in growth could bring a reality check. Investors must weigh the immense long-term potential (Palantir becoming an indispensable backbone for AI across industries) against the short-term risk that the stock has run too far, too fast on hype.
For those bullish on Palantir, the vision is compelling: a company that could become for AI what Microsoft was for PCs or what Oracle was for databases – an ubiquitous platform and a huge profit machine. The recent contracts and partnerships certainly bolster the argument that Palantir’s reach and moat are widening. Continued expansion in both government and commercial arenas, new product innovations, and global adoption of its platforms could indeed make Palantir substantially more valuable in the future.
For the skeptics, the advice is one of caution: even great companies can have overvalued stocks. They’d note that at 100+ times sales, Palantir might be priced to perfection, leaving little upside if things go right and a lot of downside if anything goes wrong. History has shown that after periods of euphoria, stocks often regress to more rational levels – not due to any disaster, but simply as growth normalizes and exuberance cools.
In the coming quarters, keep an eye on Palantir’s earnings reports and its ability to keep winning big deals. Those will be critical in determining whether the stock’s momentum is justified by fundamentals or running on fumes. Additionally, broader factors like interest rates (which affect high-multiple stocks) and the trajectory of AI investment will influence Palantir’s stock trajectory.
In sum, Palantir stands at a crossroads of opportunity and expectation. It has the opportunity to continue reshaping how organizations use AI, potentially becoming one of the defining tech companies of the era. But it also carries sky-high expectations from the market – expectations it must meet or exceed consistently to support its stock price. As of late 2025, Palantir has given investors a thrilling ride and plenty of reason for optimism. The next chapters will reveal if it can live up to the grand narrative built around it, or if some of the shine wears off. For now, Palantir remains a stock market phenomenon – a high-flying “AI juggernaut” with a story that’s still unfolding [151] [152].
Sources: Palantir and financial news releases [153] [154]; Reuters news reports on government contracts and partnerships [155] [156]; TechStock² analysis of Palantir’s 2025 performance [157] [158]; Nasdaq/Motley Fool comparisons with competitors [159] [160]. All data is current as of October 31, 2025.
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