Palantir Technologies (NASDAQ:PLTR) Trading Down 7% – Here’s What Happened

Posted by Geri Gentry on Jun 24th, 2026

Palantir Technologies Inc. (NASDAQ:PLTR – Get Free Report) fell 7% on Monday . The stock traded as low as $119.20 and last traded at $119.50. 55,898,993 shares were traded during trading, an increase of 18% from the average session volume of 47,387,898 shares. The stock had previously closed at $128.47.

Palantir Technologies News Roundup

Here are the key news stories impacting Palantir Technologies this week:

Positive Sentiment: Palantir’s partnership with Zeta Global adds another enterprise AI use case, with analysts saying it validates demand for Palantir’s Foundry platform and could help expand commercial adoption. Palantir partners with Zeta Global on AI-powered marketing infrastructure, Wedbush sees further enterprise validation
Positive Sentiment: Cathie Wood’s ARK Invest bought Palantir shares again, signaling continued institutional conviction in the stock despite the recent selloff. Cathie Wood Loads Up On Palantir, Cerebras, These Mag 7 Players
Positive Sentiment: Some analysts remain bullish, citing Palantir’s rapid revenue growth, strong profitability, and expanding AI adoption as reasons the stock could recover if sentiment stabilizes. Wall Street analyst sets Palantir stock price target for 12 months
Neutral Sentiment: Commentary around Palantir’s long-term growth story and “buy-the-dip” arguments is keeping the stock in focus, but these pieces do not provide a new fundamental catalyst. Is Palantir Technologies Stock Finally a Buy?
Neutral Sentiment: Palantir’s new U.S. Army role in the NGC2 data layer supports the company’s government franchise, but the news has not been enough to offset broader software-sector weakness. Palantir Secures Foundational Role in NGC2 Data Layer
Negative Sentiment: PLTR is facing a sharp valuation reset as investors de-risk AI and software stocks, with the shares underperforming and approaching a worst-month scenario after breaking technical support. Palantir Stock on Pace for Worst Month in 5 Years
Negative Sentiment: Reports of European setbacks and contract losses are adding to concerns that Palantir’s international growth narrative is weakening, especially outside its core U.S. government business. Palantir Took a Swiss Courtroom Loss and a European Credibility Hit

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Argus upgraded shares of Palantir Technologies from a “hold” rating to a “buy” rating and set a $190.00 price objective for the company in a research report on Wednesday, May 6th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $225.00 target price on shares of Palantir Technologies in a report on Friday, June 5th. DZ Bank assumed coverage on shares of Palantir Technologies in a research note on Thursday, April 23rd. They set a “buy” rating and a $175.00 price target on the stock. Zacks Research raised shares of Palantir Technologies from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 7th. Finally, Wolfe Research raised shares of Palantir Technologies from an “underperform” rating to a “peer perform” rating in a report on Tuesday, June 16th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $192.76.

View Our Latest Research Report on Palantir Technologies

Palantir Technologies Stock Down 2.8%

The business has a fifty day simple moving average of $137.49 and a 200 day simple moving average of $151.68. The company has a market cap of $272.03 billion, a price-to-earnings ratio of 127.50, a P/E/G ratio of 1.90 and a beta of 1.53.

Palantir Technologies (NASDAQ:PLTR – Get Free Report) last posted its quarterly earnings results on Monday, May 4th. The company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.05. The business had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.54 billion. Palantir Technologies had a net margin of 43.67% and a return on equity of 28.34%. The business’s revenue for the quarter was up 84.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.13 EPS. Equities analysts anticipate that Palantir Technologies Inc. will post 1.18 EPS for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 1,598 shares of Palantir Technologies stock in a transaction on Monday, June 1st. The stock was sold at an average price of $160.00, for a total transaction of $255,680.00. Following the completion of the transaction, the director directly owned 55,022 shares of the company’s stock, valued at approximately $8,803,520. The trade was a 2.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Stephen Andrew Cohen sold 319,934 shares of the business’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total value of $43,523,821.36. Following the sale, the insider owned 592 shares in the company, valued at approximately $80,535.68. The trade was a 99.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 927,270 shares of company stock worth $126,197,785. Corporate insiders own 9.53% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PLTR. Bare Financial Services Inc increased its holdings in Palantir Technologies by 54.5% during the 3rd quarter. Bare Financial Services Inc now owns 156 shares of the company’s stock valued at $28,000 after acquiring an additional 55 shares in the last quarter. Basepoint Wealth LLC purchased a new stake in shares of Palantir Technologies in the fourth quarter valued at about $29,000. United Financial Planning Group LLC purchased a new stake in shares of Palantir Technologies in the third quarter valued at about $32,000. Morton Brown Family Wealth LLC grew its position in shares of Palantir Technologies by 250.0% in the fourth quarter. Morton Brown Family Wealth LLC now owns 175 shares of the company’s stock valued at $31,000 after purchasing an additional 125 shares during the last quarter. Finally, Cornerstone Financial Management LLC acquired a new stake in shares of Palantir Technologies in the fourth quarter valued at approximately $31,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Company Profile

(Get Free Report)

Palantir Technologies is a software company that develops data integration, analytics and operational decision-making platforms for government and commercial customers. Founded in 2003 by a team that included Alex Karp and Peter Thiel, Palantir has grown into a provider of enterprise-scale software designed to help organizations integrate disparate data sources, build analytic models and drive operational workflows. The company went public in 2020 and continues to position its products around large, complex data projects where security, provenance and real-time collaboration are important.

Palantir’s product portfolio centers on a small number of core platforms.