Piper Sandler Raises PLTR Price Target to $231

On October 23, 2026, Piper Sandler maintained its Overweight rating on Palantir Technologies Inc. (NASDAQ:PLTR) while raising its price target from $230.00 to $231.00. The research note was issued on the same day Palantir shares closed at $196.27. The firm's updated target sits slightly above its previous mark as Wall Street continues to assess the software provider's market position.

PLTR Palantir Technologies Inc.

$196.19 ▲ +16.88% year to date

1M 3M YTD

Daily close · Oct 22, 2026

Piper Sandler's Call on Palantir Technologies Inc.

Piper Sandler's decision to keep an Overweight rating alongside a modest bump in its price target places it among several recent updates from major financial institutions. The stock closed at $196.27 on October 23, 2026. Prior to this note, Goldman Sachs upgraded the stock to a Buy with a $230.00 target on October 8, 2026. Barclays initiated coverage with an Overweight rating and a $265.00 target on October 9, 2026. Mizuho maintained an Outperform rating while raising its target from $215.00 to $245.00 on October 15, 2026. Citigroup kept a Buy rating and lifted its target from $245.00 to $250.00 on October 22, 2026.

Other Institutional Activity in Palantir Technologies Inc.

Institutional investors adjusted their holdings in the weeks leading up to the analyst update. Royal Fund Management grew its holdings by 10,863 shares, ending with 53,290 shares worth about $9,967,895.00. Midwest Trust increased its stake by 20,052 shares to hold 156,460 shares valued at approximately $29,265,843.00. Perigon Wealth Management trimmed its position by 15,865 shares, leaving it with 67,843 shares worth about $12,690,121.00. RMR Wealth Builders added 3,100 shares for a final count of 33,428 shares valued at roughly $6,252,739.00.

Palantir Technologies Inc. Stock Down 2.7%

Palantir recently traded around $196.18 as of October 23, 2026, putting it about equal to its event close. The stock trades above both its 50-day moving average of $184.40 and its 200-day moving average of $153.07. Shares remain below their 52-week high of $212.94 while staying well above their 52-week low of $106.37.

Recent Earnings

Palantir reported trailing twelve-month revenue of $6.16 billion alongside basic earnings per share of $1.13. The company generated a net profit margin of 49.0% and a return on equity of 38.1%. Its next earnings release is scheduled for November 2, 2026.

Insider Buying and Selling at Palantir Technologies Inc.

Company insiders completed several transactions ahead of the analyst update. Officer Ryan Douglas Taylor sold 18,000 shares on October 8, 2026, at an average price of $201.15 for a total value of $3,620,700.00. Director Lauren Elaina Friedman Stat disposed of 5,026 shares on October 8, 2026, at $199.00 per share totaling $1,000,174.00. Director Eric H Woersching sold 1,000 shares on October 9, 2026, at $205.00 per share for a value of $205,000.00. Director Alexander D Moore parted with 16,000 shares on October 15, 2026, with a total reported value of $3,167,867.00.

Analysts Set New Price Targets

Wall Street consensus opinion sits at a buy rating across 26 total analyst opinions. The mean price target across these firms stands at $206.62, with individual targets stretching from a low of $80.00 to a high of $265.00.

About Palantir Technologies Inc.

Palantir Technologies Inc. builds software platforms used by government agencies, defense organizations, and commercial enterprises to integrate large volumes of data and run complex operations. Based in Aventura, Florida, the firm focuses on secure analytics infrastructure. Wall Street monitors these software deployments closely as public sector and enterprise contracts expand.

Bottom Line

Investors tracking Palantir will look toward the upcoming earnings report on November 2, 2026, for further clarity on revenue growth and software adoption metrics. The stock continues to trade at elevated valuation multiples relative to trailing earnings as analysts update their price targets.