1 week ago
34
UBS just told the market that Palantir Technologies is still underpriced. The bank hiked its price target on PLTR to $250, up from $220, while keeping its Buy rating firmly in place. That’s the third upward revision from UBS analyst Karl Keirstead this year alone.
The numbers behind the conviction
Palantir’s Q2 2026 results read like a highlights reel for enterprise software bulls. The company posted $3.4 billion in bookings for the quarter.
Net dollar retention hit 157%. For context, that metric measures how much more existing customers spend compared to the prior year. A rate above 130% is considered elite in SaaS circles. Palantir is sitting 27 points above that threshold.
Adjusted gross margins landed in the mid-80s percentage-wise, while adjusted operating margins exceeded 60.
Palantir raised its full-year 2026 revenue guidance by roughly $500 million. The new range sits at $8.15 billion to $8.16 billion.
AI sovereignty as the new sales pitch
A key catalyst in Keirstead’s updated thesis centers on what emerged from Palantir’s AIPCon event, where customer conversations kept circling back to one concept: AI sovereignty. Enterprises and governments increasingly want control over their own data and AI infrastructure rather than handing everything to a handful of hyperscalers.
Where UBS stands versus the Street
Keirstead has been steadily climbing the conviction ladder on Palantir throughout 2026. His price target started at $200 in June, moved to $220 in August, and now sits at $250.
The broader Wall Street consensus tells a more cautious story. As of mid-September 2026, the average analyst price target on PLTR hovers around $194, with the overall rating sitting at Moderate Buy.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
English (US) ·