Despite strong third-quarter revenue, Palantir (NASDAQ: PLTR) shares fell sharply this week, dropping from $207.51 on Monday, November 3, to $187.90 on Wednesday, November 5.
The crash put an end to a parabolic multi-month rally and came after ‘Big Short’ investor Michael Burry bet nearly $1 billion against the software leader, triggering a wave of profit-taking in a market increasingly characterized by valuation concerns.
As the price was still falling in pre-market on Thursday, November 6, Finbold turned to its AI prediction agent to see what price the stock might trade at by the end of the month. According to the forecast, PLTR shares will climb back to $198.61, suggesting a gain of 5.79% from today’s price of $187.74, but still far from the record highs recorded on Monday.
To generate its price target, Finbold’s AI leveraged three large language models (LLM): GPT-4o, Claude Sonnet 4, and Gemini 2.5 Flash. Combining their outputs, the tool generated an average figure to provide a more objective view of the market.
Claude Sonnet 4 was the most bullish, suggesting the stock could climb all the way to $205.50 (+9.46%). GPT-4o was the least optimistic, but it still proposed that the price is likely to improve and hit $194.50 (+3.6%). Gemini was somewhere in the middle, with a price target of $195.82 (+4.31%).
Palantir stock price action
Technically, Palantir’s surge stalled at the upper boundary of a two-year ascending price channel and now hovers near the 20-day exponential moving average (EMA) at $187.80, a level that has repeatedly acted as dynamic support this year.
Further drops below this level could expose the 50-day EMA at $178.46, overlapping with September’s breakout zone. Further weakness below that area could mark a truly significant trend shift and bring the 100-day EMA near $164 into focus.
As mentioned, investors are mostly focused on Palantir’s lofty valuation. Indeed, with roughly 250x forward earnings, it trades well above the likes of Nvidia (NASDAQ: NVDA) at 33x.
Still, momentum remains strong. Retail traders continue to pour in, averaging roughly $302 million in daily turnover. What’s more, several Wall Street analysts, including DA Davidson, Goldman Sachs, and Baird, have boosted their PLTR price targets this week, citing the company’s ninth consecutive quarter of successful revenue.
Featured image via Shutterstock
