As Palantir Technologies Inc. (NASDAQ: PLTR) prepares to report its third quarter (Q3) 2026 earnings on Monday, November 2, 2026, Brian Essex, a Wall Street analyst at JPMorgan Chase & Co. (NYSE: JPM), expects a bull run to a new all-time high (ATH) over the next 12 months.
On Thursday, October 29, Essex initiated coverage on Palantir stock with an ‘Overweight’ rating and a 12-month price target of $262. As a result, the analyst implied a possible 31.98% rise over the next 12 months.
The bullish thesis is anchored in Palantir’s accelerating operational momentum, amid renewed demand for artificial intelligence (AI). Furthermore, the bank highlighted the company’s 12 consecutive quarters of revenue growth that reached 93% year-over-year to $1.93 billion.
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Is Palantir a good stock to buy?
On Thursday, Anthony Valentini, a researcher at Barclays PLC (NYSE: BCS), reiterated a ‘Buy’ rating for PLTR and set a 12-month price target of $265.
Earlier today, Param Singh, an expert at Oppenheimer, assigned a ‘Buy’ rating for Palantir stock. Additionally, Singh raised his 12-month price target for PLTR to $235 from $200.
As such, 25 Wall Street analysts surveyed by TipRanks over the past 3 months have set an average 12-month price target of $218.95.
PLTR stock price performance
After a 55% rally during the third quarter of 2026, Palantir stock soared to a new ATH of around $213.26 earlier in October.
Following the renewed bullish sentiment over the past few months, the company has seen its market capitalization grow to about $472.9 billion at the time of reporting.
As Wall Street anticipates the company to report strong earnings next week, analysts are confident of a breakout to another ATH over the next 12 months.
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