Investment firm Argus has issued a report upgrading its rating for big data analytics company Palantir Technologies Inc. from "Hold" to "Buy," and setting a price target of $190. This upgrade is primarily based on the company's recently announced "stunning" first-quarter results.
Financial reports indicate that Palantir delivered a record performance, driven by explosive demand for its AI platform. First-quarter revenue surged 85% year-over-year to $1.633 billion, marking the highest growth rate since its 2020 IPO and significantly exceeding market expectations. Performance in the U.S. market was particularly strong, with overall revenue growing 104%, and U.S. commercial revenue soaring 133%. In terms of profitability, adjusted earnings per share were $0.33, an increase of 154% year-over-year, while the adjusted operating margin reached 60%.
Beyond the historic first-quarter figures, management's confidence in the future also supported the rating upgrade. The company significantly raised its full-year 2026 performance guidance, projecting annual revenue of approximately $7.66 billion, implying about 71% growth, which is substantially higher than its previous forecast.
Analysts at Argus noted in the report that Palantir's AI platform is becoming critical infrastructure for enterprises deploying AI applications. Its penetration in both U.S. government and commercial markets is accelerating, and this robust growth momentum is expected to continue.
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