Piper Sandler Bullish on Palantir Despite Valuation Concerns

Palantir has cemented its position in the AI arena by leveraging its big data expertise, a domain where artificial intelligence offers substantial competitive edge. The market has rewarded this strategic positioning with explosive growth—PLTR stock has surged 2,285% over three years.

While skeptics question the stock's inflated valuation, Piper Sandler analyst Clarke Jeffries argues the growth story remains intact. The firm boasts $7 billion in defined contracts and an estimated $4 billion in IDIQ agreements, alongside triple-digit Commercial bookings growth year-to-date. With potential to capture a larger slice of the $1 trillion U.S. Defense market, Palantir could realistically double or triple its government business.

'PLTR hasn't peaked yet,' Jeffries notes, highlighting the absence of near-term catalysts that could derail momentum. The analyst's bullish stance reflects confidence in Palantir's revenue visibility and untapped market opportunities.