Palantir (PLTR) Draws Bullish Rosenblatt Call After Strong Q1 Results

Another AI stock whose momentum continues to strengthen its bull case is Palantir, ranking eighth on our list of 12 AI Stocks Wall Street Is Watching Now. On May 5, Rosenblatt analyst John McPeake raised the price target on the stock to $225 from $200 and reiterated a Buy rating.

Palantir recently reported its Q1 2026 earnings report, a “significant beat” to estimates and demonstrating faster revenue growth. It also guided for the second quarter and full year 2026 above the Street.

The firm particularly noted that Palantir’s commercial business beat Street forecasts, even after one customer was recategorized to government in the quarter. What was particularly impressive was the company’s full-year revenue outlook, particularly because even the low end of the company’s guidance was above the highest estimates on Wall Street.

Rosenblatt noted how Palantir has been proving how AI has been helping enterprises and governments use AI to drive value, and that this has also been showing up in the numbers. The firm highlighted three factors unlocking AI value in the enterprise, notably its integration, orchestration, and Ontology.

That said, it is highly unlikely that Palantir’s platform advantage will be easy to replicate for competitors.

Our checks with customers, former Palantirians, and SI’s, as well as our knowledge of the product, make us doubt that an LLM provider is going to create a functioning replacement of the Palantir stack over the forecastable time horizon. We are raising our forecasts and target and reiterating our Buy rating on PLTR.

Palantir Technologies Inc. (NASDAQ:PLTR) is a leading provider of artificial intelligence systems.

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