Overview
- Oppenheimer, which launched coverage Thursday with an Outperform and a $200 target, joined Wedbush’s $230 view while RBC held a $90 Sell, sharpening a split heading into the report.
- Palantir reports first‑quarter results May 4, with Wall Street expecting about $1.54 billion in revenue and $0.28 in adjusted earnings per share, a key check on its AI platform’s commercial traction.
- The stock is down roughly 22% this year and its forward price‑to‑earnings multiple has fallen to about 94 from 179, showing how lofty pricing has cooled.
- A $300 million multi‑year agreement announced April 22 with the U.S. Department of Agriculture broadened Palantir’s federal work, while RBC’s USAspending.gov tracker showed listed government contract value slipping to $43.9 million in Q1 from $65.9 million in Q4.
- Analyst consensus rates the shares a Moderate Buy with an average 12‑month target near $191, reflecting confidence in Palantir’s Ontology and AIP software even as rivals like Microsoft, Databricks, Snowflake, OpenAI, and Anthropic compete for the same clients.