Key Takeaways
- Wedbush maintains its Outperform rating on Palantir with a $230 price target, representing approximately 100% upside from the current trading price around $115.
- The stock has declined between 30-40% during 2026, approaching its 52-week low of $113.92.
- First quarter 2026 results showed 85% revenue growth year-over-year to $1.63 billion, while earnings per share jumped 154%.
- Palantir secured $2.4 billion in fresh contracts during Q1, bringing total remaining deal value to $11.8 billion.
- The company’s new collaboration with Zeta Global is projected to deliver more than $100 million in revenue to Zeta across several years.
Palantir Technologies (PLTR) has experienced significant headwinds throughout 2026. Shares have tumbled approximately 30% since the year began and were changing hands around $115 on Tuesday — hovering near the 52-week low of $113.92. Yet Wedbush has maintained its Outperform rating along with a $230 price target, suggesting potential gains approaching 100% from present levels.
Palantir Technologies Inc., PLTR
The analyst firm’s price target has remained steady despite PLTR shedding approximately 40% of its value over the preceding six months. Wedbush’s position is straightforward: the market is mispricing what Palantir brings to the table.
The research firm noted that Palantir continues to lead in enterprise artificial intelligence development and that significant portions of the investor community haven’t grasped the full scope of the company’s technology. This represents a direct observation about the gap between share price action and fundamental performance.
The fundamental performance tells a compelling story. During the first quarter of 2026, Palantir delivered revenue of $1.63 billion — an 85% increase compared to the prior year period. Non-GAAP earnings per share reached $0.33, representing a 154% surge year-over-year. For context, the broader technology sector saw earnings expansion of roughly 45% during the identical timeframe, making Palantir’s figures particularly notable.
Gross profit margins clock in at 84%, showcasing the profitability inherent in the software model.
Zeta Global Partnership Expands Revenue Opportunities
Palantir recently unveiled a strategic collaboration with Zeta Global, centered on enterprise marketing through integrated AI and data infrastructure. The arrangement leverages Palantir’s Foundry platform to transform Zeta’s Data Cloud, linking operational and customer intelligence through what the companies characterize as agentic AI.
Wedbush identified this as a significant advancement within the marketing infrastructure landscape. The collaboration is anticipated to generate over $100 million in revenue for Zeta spanning multiple years.
This represents just one of several recent initiatives. Palantir is additionally contributing substantially to the U.S. Army’s Next Generation Command and Control program, creating a unified data layer through Foundry to advance the Army’s modernization objectives.
Contract Backlog Signals Continued Expansion
Among the most significant metrics is Palantir’s remaining deal value (RDV) — representing the aggregate value of executed contracts awaiting fulfillment. At Q1’s conclusion, RDV essentially doubled year-over-year to reach $11.8 billion.
The enterprise inked $2.4 billion in fresh contracts throughout the quarter, substantially exceeding its actual quarterly revenue. This indicates that demand is outpacing delivery capacity, which generally supports sustained revenue expansion going forward.
Palantir’s complete fiscal year 2026 revenue projection stands at $7.66 billion.
From a valuation perspective, PLTR carries a trailing price-to-earnings multiple of 134 and a forward P/E of 81 — substantially above the Nasdaq composite average of 41. Even following the recent decline, the stock doesn’t qualify as inexpensive by traditional metrics. Meanwhile, InvestingPro data suggests the shares are presently trading above their Fair Value calculation.
UBS maintains a Buy rating accompanied by a $200 price target. Wolfe Research recently elevated its stance to Peerperform.
