Palantir Trades Near $187.89 as $190 Resistance Tested
Palantir Technologies (PLTR) is trading near $187.89, hemmed in by support at $185.69 and resistance at $190.21, as the market weighs rapid revenue growth against an expensive valuation, according to Blockonomi. The shares moved little over 24 hours, a sign that buyers and sellers are roughly balanced at this level.
Blockonomi reported the day’s session ranged between $185.81 and $190.33, with the price holding above its 20-day, 50-day and 200-day simple moving averages and the 12-day EMA staying above the 26-day EMA. Momentum readings are mixed: RSI sits at 61.98 and the MACD histogram is close to zero.
Key facts
- PLTR trades around $187.89, with support at $185.69 and resistance at $190.21.
- Second-quarter 2026 revenue reached $1.94 billion, up 92.8% year over year, with EPS of $0.41 against a $0.34 consensus estimate.
- Management raised its full-year 2026 revenue forecast to about $8.15 billion.
- A $48.1 million U.S. Army order announced in September covers ammunition-management software that replaces nine older systems.
- The trailing P/E is near 160x, and Wall Street targets range from a $204 Goldman Sachs Neutral rating to a $225 Buy at Rosenblatt, with an average near $195.
Growth on one side, valuation on the other
The quarterly numbers keep the growth story intact. Revenue of $1.94 billion was up 92.8% from a year earlier, and earnings per share of $0.41 came in ahead of the $0.34 that analysts expected. Palantir also lifted its 2026 revenue outlook to roughly $8.15 billion, a signal that management sees demand holding up through the rest of the year.
Government work remains a visible part of that demand. The $48.1 million U.S. Army contract covers software for ammunition management and will replace nine legacy systems. Blockonomi also points to Palantir’s FAA AI rollout and its European defense meetings as additional government channels, while the company keeps adding major AI models to its AIP platform.
The counterweight is price. A trailing P/E near 160x means the shares already discount a lot of future execution, and forward estimates are also elevated. That leaves little cushion if guidance softens or contract growth slows. Analyst targets reflect the split: Goldman Sachs keeps a Neutral rating and a $204 target, Rosenblatt stays at Buy with a $225 target, and the average sits near $195.
Why it matters
Palantir sits at the intersection of two things investors are paying close attention to in 2026: enterprise AI spending and government technology budgets. A company growing revenue at this pace while trading at a triple-digit earnings multiple is a test case for how much growth the market will pay for. For holders, the narrow trading range means the stock is close to a decision point rather than drifting; a clean break in either direction is likely to set the tone for the next stretch of trading. The elevated multiple also means any disappointment in guidance or contract awards would be felt quickly in the share price.
What to watch
The immediate signals are a close above $190.21 or a loss of support near $185.69, with a deeper level around $183.49 if selling pressure builds. On the technical side, the upper Bollinger Band sits near $197.62 and stronger resistance appears around $192.53. Beyond the chart, the next full-year guidance update and the pace of new government contract awards are the fundamentals that will decide whether the growth case or the valuation case wins out. This is not financial advice, and the stock market is volatile and uncertain.
Disclaimer: This article is for information only and is not investment, financial or trading advice. Cryptocurrency prices are highly volatile. Always do your own research.
Source: Blockonomi
