Updated 20 October 2026. Palantir (Nasdaq: PLTR) traded at $193.02 in Tuesday’s pre-market at 9:12 am ET, down 0.58 percent (Stock Analysis; FX Leaders had $192.95). It closed Monday 19 October at $194.15, up $8.12 or 4.36 percent, its best day since early September, after a partnership with Knox Systems for federal cloud deployments ended a five-day losing streak. Verdict: the Knox deal gave the stock a reason to bounce, but the bounce stopped exactly where Yahoo Finance’s Jared Blikre said sellers would reload, and the Q3 results on 2 November are the next real test. Reference levels: $184 below, $213 above.
Key facts
- Tuesday price: $193.02 in the pre-market at 9:12 am ET, down $1.13 from Monday’s close (Stock Analysis). FX Leaders quoted $192.95, down 0.62 percent, earlier in the session (Arslan Ali Butt, 20 October).
- Monday close, 19 October: $194.15, up 4.36 percent. The stock traded as high as $195.36 at midday, up 5 percent (24/7 Wall St, 11:57 am ET).
- The week before: Thursday 15 October closed at $200.50 with an intraday low of $184.45. Friday 16 October fell 7.2 percent to $186.03. The five-day losing streak took the shares more than 10 percent below their record (Yahoo Finance).
- Record: $212.94 on 12 October, the 52-week high. The pre-market price is about 9 percent below it (FX Leaders).
- Catalyst: Palantir and privately held Knox Systems agreed to combine Knox’s managed federal cloud and its accelerated FedRAMP authorisation path with Palantir’s accredited infrastructure, targeting FedRAMP and high-security Department of War environments (24/7 Wall St). Kevin Kawasaki, Palantir’s global head of business development: “The mission can’t wait for technology to catch up.”
- Next event: Q3 2026 results on Monday 2 November after the US close, with the webcast at 5:00 pm ET. August guidance was Q3 revenue of $2.160-2.164 billion.
- Market cap: about $467 billion at Monday’s close (FX Leaders).
Why Palantir rebounded on Monday
Friday’s 7.2 percent drop was not about Palantir. Software stocks sold off as investors questioned what companies will earn from AI spending and what the rollout will cost: ServiceNow fell about 5 percent, Salesforce about 4 percent and the IGV software ETF lost roughly 7 percent on the week (FX Leaders, Yahoo Finance). We set out what that selloff priced in on Friday in our 17 October piece, and the Nvidia side of the same trade in Sunday’s Nvidia outlook.
Monday gave the stock two reasons to recover. The first was the Knox Systems partnership, which shortens the path for commercial software makers that want defence customers but lack a FedRAMP authorisation. The second was the broader market: the Nasdaq rose about 1.2 percent and the S&P 500 about 0.5 percent (FX Leaders). Among the government-services peers, Leidos rose 1 percent to $126.38 and Booz Allen Hamilton fell 1 percent to $73.41 at midday (24/7 Wall St), so the market read the deal as good for Palantir rather than for the sector.
Why the rally stopped at $195
Yahoo Finance’s Jared Blikre flagged $195-$200 as the zone where sellers could reload. It is the 38.2 to 61.8 percent Fibonacci retracement of the fall from the record closing high to Friday’s close, and Monday’s high of $195.36 touched the bottom of it before the stock faded to $194.15. He names Friday’s close near $186 as the support that matters: a close below it would strengthen the bearish case.
FX Leaders’ Arslan Ali Butt reads the same tape with moving averages. The shares sit above the 50-day average at $182.33 and the 200-day at $151.76, which he calls bullish, with support at Friday’s $184.45 low and resistance at Thursday’s $200.50 close, then the $212.94 record. Above the record, he looks at $230-$250.
What the analysts and the insiders have done
The sell side raised targets into the selloff. Mizuho’s Gregg Moskowitz lifted his target to $245 from $215 on 15 October with an Outperform rating. Baird’s William Power went to $250 from $200 on 12 October. Goldman Sachs’ Gabriela Borges upgraded to Buy with a $230 target on 8 October, and Barclays initiated at Overweight with $265. MarketBeat’s consensus is a Moderate Buy with an average target of $201.61 from 1 Strong Buy, 23 Buy, 10 Hold and 3 Sell ratings, and Phillip Securities cut the stock to Hold (FX Leaders).
Insiders sold about 560,390 shares, worth roughly $97.9 million, over the past 90 days, including 18,000 shares sold by Ryan Taylor at $201.15 on 8 October under a pre-arranged plan (FX Leaders). The multiple is the bear’s main argument: FX Leaders puts the forward price-to-earnings ratio near 102 times, while the Motley Fool cites about 83 times next year’s expected earnings. The two use different earnings bases, and both are high for a company that grew Q2 revenue 92.8 percent to $1.94 billion, with US commercial revenue up 149 percent to $764 million and US government revenue up 90 percent to $809 million (24/7 Wall St).
Palantir this week: bull, base and bear
| Scenario | PLTR | What has to happen | Anchor |
|---|---|---|---|
| Bear | $184 | Software sells off again on AI-return doubts, the shares close below Friday’s $186 and retest Thursday’s panic low. | The 15 October intraday low of $184.45, FX Leaders’ support. About 4.5 percent below Tuesday’s $193.02. |
| Base | $186-$200 | The stock holds Friday’s close and chops below the $195-$200 selling zone until the 2 November results. | Blikre’s support near $186 and his $195-$200 retracement band; FX Leaders’ resistance at $200.50. |
| Bull | $213 | The Knox deal and the Q3 print keep US commercial growth above 100 percent and the shares clear $200.50. | The 12 October record of $212.94. About 10 percent above Tuesday’s price, and still below the lowest raised target ($230, Goldman). |
The bear case sits below Tuesday’s price. The levels are technical reference points measured from the verified Tuesday quote, not price forecasts. Our year-end Palantir model, published Monday, runs the same stock through 31 December with a wider $167.85 bear and a $356.01 bull.
What to watch this week
- $186 and $195: a close below Friday’s close reopens the $184.45 low. A close above $195.36 means Monday’s buyers beat the retracement sellers.
- Software earnings: the AI-return question is being settled by other companies’ prints this week. A weak software reaction drags Palantir regardless of Knox.
- Rates: the 10-year yield rose to 5.14 percent on Tuesday, and FX Leaders blames higher borrowing costs for part of Friday’s drop. The FOMC meets on 27-28 October. Read our Fed odds explainer for the pricing.
- 2 November: Q3 results after the close. The August guide is $2.160-2.164 billion of revenue and more than $3.424 billion of US commercial revenue for the full year.
Quick take: Palantir bounced 4.36 percent to $194.15 on the Knox Systems federal-cloud deal and a 1.2 percent Nasdaq rally, then slipped to $193.02 in Tuesday’s pre-market. The rally stopped at the $195-$200 zone where sellers are expected. Expect $186-$200 into the 2 November results. A break above $200.50 opens the $212.94 record. A close below $186 opens $184.
FAQ
What is the Palantir stock price today?
$193.02 in Tuesday’s pre-market at 9:12 am ET on 20 October 2026, down 0.58 percent from Monday’s $194.15 close (Stock Analysis).
Why did Palantir stock go up on Monday?
It rose 4.36 percent after announcing a partnership with Knox Systems to speed software deployments into FedRAMP and high-security federal cloud environments, helped by a 1.2 percent rise in the Nasdaq (24/7 Wall St, FX Leaders).
Why did Palantir fall 7 percent on Friday?
Software stocks sold off on doubts about AI returns and higher borrowing costs. ServiceNow fell about 5 percent and Salesforce about 4 percent the same day. FX Leaders says nothing changed in Palantir’s own business.
When does Palantir report Q3 2026 earnings?
Monday 2 November 2026 after the US close, with the webcast at 5:00 pm ET. August guidance was $2.160-2.164 billion of Q3 revenue.
What are analysts’ price targets for PLTR?
Mizuho $245, Baird $250, Goldman Sachs $230 and Barclays $265, all set or raised in October. MarketBeat’s average target is $201.61 with a Moderate Buy consensus (FX Leaders).
What is the support level for Palantir stock?
Yahoo Finance’s Jared Blikre watches Friday’s close near $186. FX Leaders names the 15 October low of $184.45, then the 50-day moving average at $182.33.
Is Palantir stock overvalued?
FX Leaders puts the forward P/E near 102 and the Motley Fool cites 83 times next year’s earnings. Both are high, which is why the shares fall hardest when the AI trade is questioned, as on Friday.
This article is for information only and is not financial advice. Prices are as of the times stated and move during the session. Sources: Stock Analysis, FX Leaders (Arslan Ali Butt), Yahoo Finance (Jared Blikre), 24/7 Wall St, MarketBeat, the Motley Fool, Palantir’s Q2 2026 release. Do your own research before making investment decisions.
