Palantir Stock (PLTR) Hits New All-Time High as AI Trade Reignites

Palantir Technologies’ (PLTR) stock has officially hit a new all-time high as investors pile into securities tied to artificial intelligence (AI).

PLTR stock hit an intraday high of $133.49 per share on May 14 before pulling back slightly. It was the stock’s second all-time high notched this week. The data analytics company is seeing its share price soar as investor sentiment towards AI-related companies once again turns bullish. In the last five trading sessions, Palantir’s stock has gained 15%.

The shares are prone to volatility and fell 12% the day after the company’s most recent earnings were released on May 5. PLTR stock hit a low of $74.01 on April 4 amid the tariff and trade war drama but has rocketed higher ever since. Analysts attribute the big rebound to improving sentiment towards AI, which has been fueled by the Trump administration’s recent pullback on tariffs.

Bull Run

Palantir CEO Alex Karp is one of several technology leaders who accompanied U.S. President Donald Trump to Saudi Arabia this week. A big player in the defense space, Palantir is expected to benefit from the $142 billion that the Saudi government has committed to spend on U.S. defense equipment and related services.

Since going public in 2020, PLTR stock is up 1,262%, trouncing the performance of nearly every other technology firm during that period. While it remains volatile and prone to big price swings, Palantir stock is nevertheless up 71% this year.

Is PLTR Stock a Buy?

Palantir’s stock has a consensus Hold rating among 18 Wall Street analysts. That rating is based on three Buy, 11 Hold, and four Sell recommendations issued in the last three months. The average PLTR price target of $100.13 implies 22% downside risk from current levels.

Read more analyst ratings on PLTR stock