Palantir Climbs Above $126 In Overnight Robinhood Trading: 'So Many Bears Out There,' Says Lawrence McDonald

Palantir Technologies Inc. PLTR reached an all-time high in Sunday overnight trading, topping at $126.28 on Robinhood’s 24-hour trading platform after closing at $124.28 on Friday.

What Happened: Bear Traps Report founder Lawrence McDonald reacted to the milestone on the social media platform X, writing: “So much fear, so so many bears out there :)”

The stock surge comes just ahead of the company’s first-quarter earnings report due Monday, with analysts projecting earnings of 13 cents per share on revenue of $862.83 million.

Wedbush Securities analyst Dan Ives highlighted Palantir as “the missing piece in the AI puzzle” in a Sunday social media post. “Karp & Co. are a major barometer for the pace of U.S. commercial AI projects and initiatives and we expect good news from the Messi of AI on Monday,” Ives wrote, referring to Palantir CEO Alex Karp.

Palantir shares have surged 392% over the past year amid growing investor enthusiasm about the company’s AI capabilities and government contracts. The company recently delivered battlefield TITAN systems to the U.S. Army and announced a partnership with NATO Allied Command Operations to provide AI-powered military technology.

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Why It Matters: In the fourth quarter of 2024, Palantir reported $827.52 million in revenue and 14 cents in adjusted earnings per share, beating analyst estimates. U.S. revenue grew 52% year-over-year, with the company closing 129 deals worth over $1 million.

Palantir has a consensus price target of $69.76 from 25 analysts, according to data from Benzinga Pro, with a high of $125 from Loop Capital and a low of $7.50 from Wolfe Research. The latest targets from RBC Capital, Morgan Stanley, and DA Davidson average $76.67, implying a 38.44% downside.

Palantir shows a positive short- to long-term price trend, according to Benzinga Stock Edge Ranking. It scores well on growth and momentum but lags on valuation. Sign up to learn more.

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