With software giant Palantir (NASDAQ: PLTR) trading at new record highs, one analyst believes the stock is entering a fresh era of growth, setting a price target of $200, which he believes may be “too conservative.”
A move to $200 would represent a 50% gain from Palantir’s last closing price of $133.
Based on the ongoing momentum, EliteOptionsTrader, a well-known technical analyst, sees Palantir’s “monster breakout” setting the stage for a run to $200.
PLTR stock’s path to $200
In an X post on June 4, he pointed out that the stock recently cleared the key $100 psychological level after multiple retests, showing strong demand and resilience. The next major resistance is around $142; if that breaks, it could spark a sharp rally toward $200 and beyond.
“Our initial target remains $200 — but based on current strength, the deals in the pipeline, and the AI narrative expanding globally, that might end up being too conservative,” the analyst said.
Technically, Palantir has formed a large, rounded base since mid-2021, a structure often seen before long-term moves higher. The breakout from this pattern suggests the stock could be in the early stages of a much bigger run.
So far, it has steadily broken through major resistance levels at $35, $66, and $100. With momentum building, $200 is now in sight.
Palantir valuation concerns
While valuation concerns have lingered, EliteOptionsTrader compared the setup to Tesla’s early breakout years, when critics were loud, but price action didn’t care.
“Valuation concerns are valid, but we’ve seen this narrative before. Think TSLA in its early breakout stages: plenty of skeptics, but price ignored the noise and kept running. Palantir might be setting up for something similar,” he added.
On the fundamental side, several developments could support the rally. Palantir’s work with the U.S. government has expanded, with the Pentagon recently extending the company’s Maven Smart System contract, now worth over $1.3 billion. The AI-powered platform is central to the Department of Defense’s push to integrate artificial intelligence across operations.
Palantir has also secured a partnership with NATO, which is now using its Maven system to enhance military operations—a significant global endorsement of its technology.
Meanwhile, reports suggest that the Donald Trump administration has tapped Palantir to develop a national citizen database that collects personal, health, and financial data. While the move has raised privacy concerns, it points to how integral Palantir’s tech is becoming to national infrastructure.
Outside of government, demand for Palantir’s Foundry and Artificial Intelligence Platform (AIP) continues to grow across sectors like healthcare, finance, and energy. The company is rapidly positioning itself as a key player in operational AI for some of the world’s most complex industries.
Featured image via Shutterstock
