Palantir Technologies (NASDAQ: PLTR) has received a higher price target from Phillip Securities after its second-quarter results beat expectations, while investor Michael Burry has taken another bearish position against the AI software company. The opposing positions come as PLTR stock trades near $175 following a sharp advance that has changed its weekly technical structure.
Phillip Securities raised its Palantir stock price target from $202 to $215 and maintained a Buy rating. Analyst Alif Fahmi also increased the firm's fiscal 2026 revenue and net income estimates by 6%, citing stronger second-quarter results and continued demand for Palantir's artificial intelligence products.
Palantir Earnings Drive Higher Analyst Price Targets
Palantir reported second-quarter 2026 revenue of about $1.9 billion as demand from U.S. commercial customers and government clients remained strong. Revenue came in 6.8% above FactSet consensus estimates, while operating income and margin exceeded estimates by 10.5%.
Phillip Securities kept its weighted average cost of capital and terminal growth assumptions unchanged in its discounted cash flow model. The firm pointed to Palantir's Ontology platform and artificial intelligence platform as tools supporting enterprise automation and wider adoption of AI products.
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Other Wall Street firms have also adjusted their Palantir stock forecasts. UBS raised its PLTR price target to $220 with a Buy rating, while Truist Securities moved its target to $223. Piper Sandler maintained an Overweight rating and set a $230 target after Palantir's U.S. Commercial business recorded 149% year-over-year growth.
Cantor Fitzgerald took a more cautious position, raising its target to $156 while keeping a Neutral rating. Benchmark maintained its Hold rating following the quarterly results, leaving analysts divided over how much of Palantir's expected growth is already reflected in its share price.
Michael Burry Takes Bearish Position on PLTR Stock
Michael Burry has taken a different position despite Palantir's recent revenue growth. The investor purchased March 2027 put options with strike prices in the low-to-mid $100 range, giving him downside exposure if PLTR shares decline before the contracts expire.
Burry's position centers on Palantir's valuation rather than a slowdown in its underlying business. Bearish estimates place the company above 50 times expected 2026 sales and close to 100 times free cash flow, creating questions about whether its current growth rate can support those valuation levels.
The trade follows Burry's previous bearish position in Palantir, part of which he covered when shares traded near $107. His latest options position comes with PLTR substantially above that level following continued demand for AI-related stocks and Palantir's stronger financial performance.
PLTR Weekly Chart Signals Trend Change but Price Looks Extended
Palantir's weekly chart has shifted toward a bullish structure after the latest advance formed a higher high, breaking the previous pattern of lower highs and lower lows. The move also pushed PLTR above the weekly Bollinger Band midline as buying momentum strengthened.
However, PLTR is now trading above the weekly upper Bollinger Band near $166, with shares around $175. Trading outside the upper band indicates that price has become extended on the weekly timeframe and could face consolidation, a pullback or sideways movement following the recent advance.
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The $165-$166 range forms the first technical area to monitor if PLTR retraces, followed by support around $158-$160. Holding those areas and establishing a higher low would preserve the changed weekly structure.
On the upside, the $178-$180 region remains the immediate resistance area. A sustained move above that zone would keep the higher-high structure intact, while a rejection could send PLTR back toward its weekly support levels as investors weigh higher analyst targets against Burry's bearish position.
