Palantir’s shares came under pressure on Wednesday as hotter-than-expected US inflation data pushed Treasury yields higher and revived rate worries across markets. The move fed through to the Nasdaq, which came under noticeable selling pressure, and hit interest-rate-sensitive artificial intelligence names in particular. Palantir finished the session down 3.4% at EUR 180.06, or 2.7% lower at EUR 181.30 in a separate market update, leaving the stock just 5.4% below its 52-week high of EUR 190.36.
The weakness in the share price came even as the company delivered a string of company-specific headlines that were unrelated to the macro backdrop. One of the most notable was Palantir’s role as the first investor in a new Ukrainian defence technology company, according to Janes. The business, launched by Mykhailo Fedorov, aims to produce interceptor drones for air defence.
At the same time, Palantir also cleared a legal hurdle in the UK. The company and the Mayor’s Office for Policing and Crime reached an agreement over a blocked contract for the Metropolitan Police worth GBP 50 million, or USD 66 million. Both sides withdrew their claims, and the authority said its original decision was not based on Palantir’s values or ethical principles. The Guardian reported the settlement on Wednesday, ending the dispute without a trial.
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Analyst sentiment has remained mixed despite the day’s market-driven decline. On 12 October, Baird lifted its price target from USD 200 to USD 250 and kept an Outperform rating, citing the potential of open-source AI models to drive broader adoption and usage of the company’s platforms. Phillip Securities took a more cautious line the same day, cutting its recommendation from Buy to Neutral and setting a USD 215 target, saying the stock had already undergone a substantial revaluation. Goldman Sachs had upgraded the shares about a week earlier.
Attention now shifts to the next earnings release. Palantir has said it will report third-quarter results for the period ended 30 September 2026 on 2 November 2026 after the US market close. The company is also expanding its global footprint: it has scheduled an event in Seoul for 22 and 23 October, highlighting South Korea as one of its largest commercial markets outside the United States.
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