Palantir shares fell 5.2% on Thursday to $107.53, approaching their lowest close since April 24, 2025. The company has now seen its stock drop for seven sessions in a row. Since last Tuesday, the stock is down nearly 20%, and it has lost 31% this month. This puts Palantir on pace for its worst monthly performance since it dropped 32% in February 2021. Below is a look at the technical situation and Wall Street’s view on the stock’s value.
The recent decline has been quick, breaking through several support levels. On Monday, Palantir dropped below $127, a price it had held since February, which suggests more downside could be ahead. On Thursday, shares also fell below $128, another important support level that had held for the past year. The stock is now about 15% under $127 and is moving further away from its main moving averages. The 50-day moving average is around $137, and the 200-day is about $159.
Palantir’s losses this year are steep. The stock is down 39% in 2026 and has dropped 48% from its record closing high of $207.18 on November 3, 2025. In contrast, the S&P 500 is up 7.8% and the Nasdaq Composite has gained 9% during the same time. The selloff is driven by concerns that AI could disrupt software business models and lower demand for enterprise AI platforms, including Palantir’s, which are meant to support human decision-making.
Last week, Wolfe Research resumed coverage of Palantir with an upgraded rating. The firm called Palantir the most widely used enterprise AI software company, with the biggest and fastest growth rates in the industry. Wolfe Research also said that if growth moves toward its best-case scenario, the current price could be a very appealing entry point.
According to FactSet, 33 firms cover Palantir, and the stock has an average Overweight rating. The consensus price target is $189.87, which suggests about 67% upside from where the stock is now.
