Palantir (NASDAQ:PLTR) just got an upgrade to Market Perform from Underperform at William Blair, as analysts see new opportunities emerging despite recent struggles.
The firm cited Palantir's sharp 33% drop from $125 to $84 in the past three weeks, driven partly by DOGE-related volatility, as a key reason for the change. While valuation remains high and government contract delays could still pose risks, analysts, led by Louie DiPalma, pointed to positive developments on the horizon.
William Blair expects Palantir to secure a new U.S. government contract to build a centralized payment tracking system aimed at cutting costs and improving financial oversight at the Department of Defense. The company is also competing for additional contracts with the U.S. Army.
Palantir's financials remain strong, with 2025 revenue growth projected at 31% and an operating margin forecasted at 45%. The firm also highlighted Palantir's ability to scale efficiently, noting that while revenue jumped 50% from 2022 to 2024, headcount only grew 3%.
Palantir shares ticked higher in early Wednesday trading following the upgrade.
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