Major news: Palantir (PLTR) shares hit a record high of $209.58 on Friday, pushing its market capitalization above $500 billion for the first time.
On October 8, Goldman Sachs upgraded Palantir Technologies (PLTR) from “Hold” to “Buy” and raised its 12-month price target to $230 per share.
During the second quarter (Q2), Goldman Sachs purchased 5,167,996 shares of Palantir, worth approximately $620 million as of June 30, 2026, according to its latest 13F filing. At the end of Q2, Goldman Sachs held 22,705,848 shares, now worth approximately $475 million. The share price has risen nearly 80% since the end of the quarter.
In recent commentary, Goldman Sachs emphasized that Sovereign AI—the government- and nation-backed deployment of customized, highly secure national AI infrastructure—is expanding Palantir’s total addressable market (TAM).
The price target is derived by applying a 60x multiple to expected 2029 GAAP earnings of $4.50 per share and discounting by approximately 13.5%.