Palantir’s Q1 revenue surged 85% to $1.633 billion, prompting Citi to raise its price target and lift full-year guidance.
Citi raised its price target for Palantir Technologies (PLTR) to $225 from $210 after the company reported an 85% jump in first-quarter revenue to $1.633 billion. U.S. revenue led growth, surging 104% to $1.282 billion, driven by AI demand in both government and commercial sectors.
Palantir’s U.S. government revenue rose 84% to $687 million, while commercial revenue climbed 133% to $595 million. The company now expects full-year revenue between $7.650 billion and $7.662 billion, up from prior guidance, with Q2 revenue projected at $1.797 billion to $1.801 billion.
Analysts remain bullish, with Rosenblatt and Bank of America also raising price targets to $225 and $255, respectively. The average analyst target stands at $200, a 47% premium over the current price of $135.91.