Palantir Enters November on a Wave of Raised Targets and a 60x Earnings Bet

Three brokerages have now lifted their price objectives on Palantir in the space of a week, and the most aggressive of them is looking well past the current quarter. Rosenblatt raised its target to $260 from $225 on Monday while reiterating a Buy rating, a call built on the premise that corporate AI rollouts will eventually convert into durable business rather than one-off pilots.

The arithmetic behind that number is striking. Rosenblatt values Palantir at 60 times expected earnings per share for the stretch running from the fourth quarter of 2027 through the third quarter of 2028 — a valuation that leans heavily on the distant horizon. The firm pegs the worldwide addressable market at more than ten times its own 2027 revenue forecast of $14.6 billion, which explains why the long-run opportunity, not the imminent quarter, anchors the thesis. A large addressable market is not booked revenue, though, and the open question is how quickly Palantir converts additional enterprise customers and turns their AI deployments into recurring business.

Two More Houses Nudge Their Numbers

Rosenblatt is not alone in turning more constructive. Piper Sandler reportedly moved its target to $231 from $230 on Friday, keeping an Overweight rating, while Citi had already lifted its own to $250 from $245 on Thursday and reaffirmed its Buy call. In both cases the ratings stayed put — the analysts adjusted their math, not their stance. Palantir shares finished Thursday's session at €177.76, up 1.1%.

The commercial engine provides the clearest evidence for the bulls. US commercial revenue climbed 149% year over year to $764 million in the second quarter of fiscal 2026, a figure that underpins the argument that enterprise clients are becoming a genuine growth driver rather than a side story.

Product Tinkering Meets Sovereign AI Push

Palantir has been tightening the plumbing of its Artificial Intelligence Platform alongside that commercial expansion. In October it introduced controls letting administrators restrict language-model access through mandatory data markings, with the checks spanning entire user sessions as well as agents. Such features speak directly to the practical side of enterprise AI adoption — data access becomes more precisely governable — though the company has not quantified any revenue contribution from them. What ultimately counts for the valuation is commercial execution.

On the sovereign AI front, Palantir said Wednesday it had delivered results for customers including L3Harris, McCarthy Building Companies and NVIDIA, alongside Ondas, Regna AI and Tampa General Hospital. A separate partnership announced October 19 with Knox Systems is designed to speed software delivery to customers operating in FedRAMP and IL5 environments; financial terms were not disclosed.

Questions about who actually controls Palantir's defence software also drew a public response. Executive Vice President Louis Mosley said Thursday, according to Reuters, that neither Palantir nor the US government could switch off NATO's Maven Smart System remotely, with operational control remaining in customer hands.

The Bar Is Set High for November 2

All of this sets up a demanding test. Palantir reports third-quarter 2026 results after the market close on November 2, and the LSEG consensus cited by CNBC points to profit growth of nearly 100% and revenue growth above 80% versus a year earlier. Robust expansion is therefore already baked into expectations. Rosenblatt's case goes a step further, anticipating both a beat and an upgraded outlook — meaning investors will be judging the combination of growth, profitability and guidance rather than a single strong quarter. The raised target is a vote of confidence; Palantir now has to keep earning it operationally.