Mizuho Raises Palantir Price Target Amid Strong Growth Performance
Mizuho Securities has upgraded its rating on Palantir Technologies (NASDAQ: PLTR) from Underperform to Neutral, and raised its 12‑month price target to $135, up from $116.
The revision reflects Mizuho’s recognition of Palantir’s solid momentum, recent execution has exceeded expectations across both commercial and government segments. Analysts described this performance as “stunning,” noting significant upward revisions that the firm had previously underestimated.
Mizuho projects Palantir has a “legitimate chance” to deliver accelerated revenue growth for a fifth consecutive quarter, with rising enterprise demand for its AI platform and broader adoption across industries including finance, energy, and healthcare.
The firm highlighted Palantir’s expanding commercial business in the U.S, accounting for roughly 30% of revenue, as on track to exceed its guidance of 68% growth. At the same time, its government segment (about 42% of revenue) remains resilient, underpinned by a steady pipeline amid geopolitical uncertainty.
Mizuho also flagged the emerging potential of Warp Speed, Palantir’s manufacturing operating system launched in 2024, including recent initiatives like “Warp Speed for Warships” aimed at supporting U.S. Navy modernization efforts.
Still, analysts remain cautious about valuation. Palantir currently trades at an enterprise‑value‑to‑sales multiple of 97× for 2025 and 77× for 2026, far above typical software peers. Mizuho warns that this lofty premium could expose the stock to reversion if growth slows.