Palantir (PLTR) stock has already been one of the market’s biggest winners over the past year, but some analysts believe the AI-driven momentum is still building. Following the company’s strong Q1 results, Freedom Capital analyst Almas Almaganbetov raised his price target on the stock to $230 from $170 while maintaining a Buy rating. The new price target reflects about 70% upside from current levels.
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For investors wondering whether Palantir’s massive run has already gone too far, the analyst believes the latest quarter gave Wall Street another reason to stay bullish.
Why Almaganbetov Is Bullish on the Stock
One of the biggest takeaways from the quarter was the strength in Palantir’s government business. According to Almaganbetov, demand for the company’s national security and defense software has become so strong that Palantir is now prioritizing government contracts over some commercial deals due to limited implementation capacity.
That demand helped Palantir deliver results that came in well above both company guidance and Wall Street expectations. Management also raised its full-year 2026 outlook across several major metrics, prompting the analyst to significantly increase his revenue and adjusted free cash flow estimates for 2026 through 2028.
The report also highlighted Palantir’s growing role in enterprise AI. Despite rising competition for AI talent and software leadership, the analyst believes the company still holds an important advantage through its AIP platform.
Is PLTR Stock a Good Buy?
The bullish call adds to the ongoing debate on Wall Street following Palantir’s Q1 report. While some analysts believe the stock’s valuation has become too rich after its massive rally, others argue Palantir remains one of the strongest long-term players in the enterprise AI software market.
Overall, Wall Street has a cautiously optimistic stance on Palantir stock. The average PLTR stock price target of $188.31 indicates 38% upside potential.
