New York, March 2, 2026, 04:57 EST — Premarket
- Palantir climbed 4% before the bell, tacking onto Friday’s 0.9% gain at the close.
- UBS upgraded Palantir to “Buy,” sticking with its $180 target following the stock’s retreat from its highs.
- Friday brings the U.S. jobs report, with traders on edge over more AI-driven swings.
Palantir Technologies (PLTR.O) jumped 4% ahead of the bell Monday, trading at $142.73. The stock closed Friday at $137.19, a 0.9% gain. 1
That shift puts the data-analytics group back in focus. UBS just bumped the stock up to “Buy,” saying the recent drop makes its valuation more palatable. UBS analyst Karl Keirstead flagged the slide as a “-35% move off the peak.” One partner, he said, described the market as “demand is exceptional.” 2
Why now? Investors are busy separating “AI winners” from the broader software pack, fueling sharp moves in big tech and high-multiple stocks throughout the year. All eyes shift to the macro picture next: a loaded stretch of data and earnings hits, with the February U.S. jobs report standing out as a major pivot point for rate bets. 3
Back in early February, Palantir’s most recent quarterly report put the spotlight on rising U.S. commercial sales and strong government demand—key factors behind its lofty valuation, but also the stock’s tendency for big swings. The company reported $1.41 billion in revenue for the quarter, with $570 million coming from U.S. government contracts, according to Reuters. 4
Palantir, in its earnings statement, projected full-year 2026 revenue between $7.182 billion and $7.198 billion. The company also expects U.S. commercial revenue to exceed $3.144 billion, eyeing growth of no less than 115%. 5
UBS is making its bullish call based on Palantir’s free cash flow—money left after covering operating expenses and capex—and the belief that the company can keep up annual growth near 50% for a few years yet. The bank pointed to rivals, including heavyweight cloud providers and niche players like Databricks, but said its most recent checks didn’t uncover any “material” fresh threats. 2
It’s a tangled backdrop. Oil prices have spiked—sharp escalation in the Middle East is driving that move, and when that kind of shock hits, risk appetite usually takes a knock, even if a single stock’s narrative is at play. 6
Yet Palantir’s valuation bakes in a lot. Missed deals, a pause in government contracts, or deeper enterprise tech cuts could hit harder here than at lower-priced software rivals.
This week, rate-sensitive growth stocks are jerking around with each new data release, and investors are still pressing the question: how quickly does AI spending start hitting the top line for software vendors, not just chipmakers?
All eyes now turn to Friday’s U.S. Employment Situation data for February, set for release March 6 at 8:30 a.m. ET. The report lands right before the bell and could jolt yields, tech names, and shape the mood for stocks like Palantir heading into the following session. 7
