In This Article:
What Happened?
Shares of data-mining and analytics company Palantir (NYSE:PLTR) jumped 8.9% in the afternoon session after Bank of America analyst Perez Mora raised the stock's price target to $150 while maintaining a Buy rating.
The analyst noted that PLTR was shipping products at a faster pace and noted the conversion funnel had become more efficient. Mora also called out an executive order to modernize US defense acquisitions as a potential catalyst.
Separately, markets experienced a boost after data from the Bureau of Labor Statistics revealed that inflation for the month of April 2025 came in slightly better than expected. The CPI rose 0.2% from the previous month, in line with expectations, while headline inflation rose 2.3% year on year (vs estimates for a 2.4% y/y increase). The data revealed inflation continued to edge closer to the Fed's 2% target. The reaction wasn't anything wild, but the sentiment leaned positive. The Nasdaq led the way, climbing 1.7%, boosting some tech stocks.
This added to the gains from the day before, which was sparked by a breakthrough in US-China trade talks as both sides agreed to pause some tariffs for 90 days, signaling a potential turning point in ongoing tensions and cooling fears of a prolonged trade war.
The shares closed the day at $128.05, up 8.1% from previous close.
Is now the time to buy Palantir? Access our full analysis report here, it’s free.
What The Market Is Telling Us
Palantir’s shares are extremely volatile and have had 45 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was 19 days ago when the stock gained 6.6% on the news that stocks extended their rebound, led by strong gains in the technology sector, as renewed optimism surrounding U.S.–China trade negotiations lifted investor sentiment.
Contributing to the bullish tone was a standout earnings report from enterprise software leader ServiceNow, which topped Wall Street's expectations on both revenue and earnings. More importantly, the company's remaining performance obligations (RPO), a key forward-looking metric for future revenue, also exceeded forecasts, giving investors confidence that enterprise customers are not pulling back spending amidst uncertain macro.
The optimism was further reinforced by solid results from Texas Instruments and Lam Research. Their performance was especially encouraging for semiconductor stocks, which have been under pressure due to their exposure to global trade tensions. These results suggested that, despite macroeconomic uncertainties, demand in key tech verticals remained resilient.