Palantir Slips 7.4% in AI-Wide Tech Retreat as London Police Dispute Ends and Wall Street Raises Targets

Palantir shares closed Friday at EUR 165.52, down 7.4% on the final trading day of the week, as a broad selloff swept the software and technology complex. There was no company-specific trigger behind the decline. Instead, traders pointed to mounting Wall Street unease over the scale and staying power of the global investment wave into artificial intelligence. The Nasdaq fell 2.1% in the same session, with software names bearing the brunt of the pressure.

The retreat has widened Palantir's gap to its 52-week high to 13%. After the sector's earlier run-up, market participants are increasingly questioning how long the boom can last, with skepticism centering on the hefty outlays required to build out AI infrastructure.

Two Banks, Two Views From the Sell Side

The pullback came despite a pair of bullish analyst moves during the week. On Thursday, Mizuho's Gregg Moskowitz lifted his price target on Palantir to $245 from $215 while keeping an Outperform rating, citing solid third-quarter field checks, strong consumption and cloud data, and unabated momentum in AI adoption. A day earlier, Baird had raised its own target to $250 from $200, also maintaining an Outperform stance.

On the corporate side, Palantir logged a fresh commercial win. Customers Bank disclosed Thursday that it will deploy Palantir's Foundry and AIP platforms to streamline deposit-client onboarding — covering document capture, identity verification for business entities, and the aggregation of risk signals. Neither party disclosed financial terms or the length of the agreement.

London Lawsuit Settled, European Footprint Holds

The company also closed out a long-running legal fight in Britain. Palantir and the Mayor's Office for Policing and Crime reached a settlement on Wednesday over a blocked contract for the Metropolitan Police valued at GBP 50 million, according to Reuters. Both sides withdrew their mutual allegations, leaving Palantir in the running for the larger award, with a decision expected next spring.

Palantir's European position extends well beyond that single deal. According to media reports, at least eleven European states hold contracts with the software group, with publicly known contract volume across Europe and the UK totaling more than EUR 1.4 billion.

Insider Sale and a November 2 Date With Investors

Separately, Chief Revenue Officer and Chief Legal Officer Ryan D. Taylor sold 18,000 Class A shares on October 8 at $201.15 apiece under a pre-existing Rule 10b5-1 trading plan, per a mandatory SEC filing submitted on October 13.

The next real test of the company's operating health arrives on November 2, when Palantir reports third-quarter 2026 results — covering the period ended September 30 — after the close of US markets. Management will follow the release with a webcast and conference call to walk investors and analysts through the numbers.