Palantir CEO Alex Karp (Brendan Smialowski/Getty Images)

Analyst hikes Palantir price target after conference comments

But the Street’s target is still way behind the market price.

6/11/25 3:10PM

Mizuho analysts lifted their price target on Palantir shares to $116 from $94 on Wednesday, following comments company executives made at the Japanese bank’s technology conference in New York this week.

The synopsis of those comments provided in a brief note Wednesday aren’t awe-inspring. Basically Palantir CFO David Glazer restated the company’s default position that there is “unprecedented” demand for the software company’s AI Platform (AIP) product. Mizuho wrote:

“We are raising our price target to $116 (from $94) on Palantir’s strong recent execution and significant upward revisions, along with recent appreciation in competitor multiples. Our price target reflects 2025E-26E EV/ Sales multiples of roughly 80x and 65x. This also equates to a large 6x premium to our enterprise software peer group median for next year, reflective of Palantir’s strong strategic positioning with large customers, and potential for further accelerated growth in future years.”

It’s worth noting that even with that insane valuation — an EV-to-2025-sales multiple of 80x compared to a roughly 5x valuation on the Nasdaq Composite — Mizuho’s price target is still more than 15% below Palantir’s market price.

Mizuho isn’t alone. Since shares of Palantir exploded last year in the wake of the US presidential election, Wall Street price targets for the shares have largely failed keep up.

Despite being incredibly optimistic on the company’s business — Wall Street expects sales to keep growing more than 30% annually through 2027 — analysts simply can’t come up with plausible earnings estimates and valuation multiples that support where the shares have gone, at least in terms of traditional stock market math.

That can happen when a company’s stock is embraced by the unwashed retail masses, as Palantir shares have been, with the price becoming increasingly dependent on euphoric market sentiment rather than actual fundamentals. The textbook example of this phenomenon is Tesla, where the shares have become so divorced from fundamentals like vehicle deliveries and profits that it trades almost entirely on vibes.

Luke Kawa13h

Micron soars after reporting huge Q1 beat, with Q2 sales guidance ahead of every Wall Street analyst’s estimates

Micron has completely erased Wednesday’s big losses, rising 9.5% in premarket trading as of 4:20 a.m. ET, after the memory chip specialist yesterday posted stellar results for its fiscal Q1 2026 and a much better outlook for the current quarter than Wall Street anticipated.

For Q1, the company reported:

Revenues: $13.64 billion (estimate: $12.95 billion)
Adjusted earnings per share: $4.78 (estimate: $3.95)

And the Street’s consensus was well ahead of even the upper ranges of the guidance provided by management for the quarter for sales of $12.5 billion (plus or minus $300 million) and $3.75 (plus or minus $0.15).

For Q2, management provided an outlook for adjusted revenues of $18.3 billion to $19.1 billion, and adjusted EPS of $8.22 to $8.62. Wall Street had penciled in revenues of $14.38 billion with adjusted EPS of $4.71.

Even the bottom end of the ranges management provided is well above the top analyst’s estimate for the quarter.

These results may help spark a revival in semi stocks, which have gotten trounced in recent sessions. Hard disk drive sellers Seagate Technology Holdings and Western Digital are also rising in after-hours trading, as is flash memory seller Sandisk.

Micron has been one of the worst performers in the S&P 500 since last Thursday’s record close, down double digits from then until Wednesday close as investors broadly dumped AI names. Prior to that, shares had been on fire amid a bevy of Wall Street price target hikes and surging memory chip prices as demand runs ahead of supply. The AI boom has fueled a spike of immense appetite not only for GPUs and custom chips but also memory chips as well, as data centers also need a boatload of these to store information and feed it to those processors. Micron and its major competitors, SK Hynix and Samsung, have already sold out production for their most advanced high-bandwidth memory offerings for calendar year 2026.

Micron recently announced that it would be exiting its consumer chip business to focus on serving its AI customers.

Toby Bochan

Market wrap

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Markets slump as AI trade tumbles

Tech dragged US stocks lower, especially the Nasdaq 100.

The East Side of the US Capitol Building in the early morning, Washington DC, USA.

Group of House Republicans defy leadership and join Democrats to force ACA vote

The subsidies are still likely to end before the deadline.

J. Edward Moreno18h

Luke Kawa

19h

Bitcoin is behaving like a no-fundamentals tech stock

The three-month correlation between the daily changes in the iShares Bitcoin ETF and a Goldman Sachs basket of nonprofitable tech stocks is at a record high.

Matt Phillips19h

Oracle slides on report that data center partner Blue Owl won’t fund $10 billion Michigan facility; company says project is on track without Blue Owl

Oracle shares declined early Wednesday after the Financial Times reported that Blue Owl Capital, the largest funder of Oracle’s data center investment push, will not finance a 1-gigawatt Oracle data center planned for Saline Township, Michigan. The pink-paged periodical reports:

“Blue Owl had been in discussions with lenders and Oracle about investing in the planned 1 gigawatt data centre being built to serve OpenAI in Saline Township, Michigan.

But the agreement will not go forward after negotiations stalled, according to three people familiar with the matter.

The private capital group has been the primary backer for Oracle’s largest data centre projects in the US, investing its own money and raising billions more in debt to build the facilities. Blue Owl typically sets up a special purpose vehicle, which owns the data centre and leases it to Oracle.”

For its part, Oracle told Bloomberg on Wednesday morning that negotiations for a data center project in Michigan are “on schedule” and don’t include Blue Owl.

While not horrible, Wednesday’s drop puts Oracle down 15% so far this week, as the shares continue to be clobbered by rapidly shifting investor sentiment toward lofty AI investment plans.

Oracle is down roughly 45% from the all-time high it hit on September 10, in a plunge that has destroyed more than $400 billion in value. Yowza.

“Blue Owl had been in discussions with lenders and Oracle about investing in the planned 1 gigawatt data centre being built to serve OpenAI in Saline Township, Michigan.

But the agreement will not go forward after negotiations stalled, according to three people familiar with the matter.

The private capital group has been the primary backer for Oracle’s largest data centre projects in the US, investing its own money and raising billions more in debt to build the facilities. Blue Owl typically sets up a special purpose vehicle, which owns the data centre and leases it to Oracle.”