Palantir Drops 20% in 2026 as Analysts See Buy Opportunity Before Earnings

Overview

• Palantir shares are down about 20% this year and stand roughly 31% below their November 2025 record close of $207.18.
• Wall Street expects May 4 first-quarter revenue of about $1.54 billion, up 74% year over year, and earnings of $0.28 per share, up 115%.
• Analysts keep positive views, with a Moderate Buy consensus and an average price target near $194, as Rosenblatt reiterates a $200 target.
• New federal money includes a $300 million U.S. Department of Agriculture purchase agreement and a $2.3 billion Pentagon budget line for the Maven Smart System, strengthening revenue visibility.
• Investors still flag high valuation, political scrutiny, and rising AI rivals, with short seller Michael Burry pointing to Anthropic as a threat.