Palantir Sees 70% Revenue Growth as UBS Cuts Target to $180
UBS cut Palantir’s price target to $180 from $205 after the company posted 70% revenue growth and a 137% U.S. commercial sales gain above $2 billion. Truist maintained a Buy rating as sales grew for a tenth straight quarter, pushing revenues past $4 billion while government operations rose 66%.
1. UBS Cuts Price Target
UBS lowered Palantir’s price target to $180 from $205, keeping a Neutral rating while highlighting the company’s exceptional financial momentum.
2. Strong Commercial Growth
The company delivered 70% total revenue growth and a 137% jump in U.S. commercial sales, lifting commercial revenues above $2 billion for the period.
3. Sustainment of Sales and Government Expansion
Truist retained a Buy rating as Palantir achieved its tenth consecutive quarter of sales growth, driving annual revenues past $4 billion, and saw government operations expand 66% through increased Department of Defense contracts.