Palantir Technologies can't catch a break. The stock sank Thursday for a seventh straight trading session, on track to close at a new 12-month low.
Shares stock fell 5.2% to $107.53. If the hold moves, stock will end the day at its lowest price since April 24, 2025, according to Dow Jones Market Data.
It has been a rough stretch for the stock, which has fallen nearly 20% since last Tuesday and 31% this month. If the misery keeps coming, shares will notch their worst monthly percentage decline since a 32% fall in February 2021, according to Dow Jones Market Data.
Shares are off 48% from their record closing high of $207.18 on Nov. 3, 2025.
On Monday, the stock broke below a key technical level of support that it had held since February -- $127, an indication that it could be headed even lower. Now, shares are about 15% below the $127 price.
On Thursday, shares dropped below $128, a key level of support on a weekly chart that they had held for the past 12 months.
Palantir is also falling further from key moving averages. The stock's 50-day moving average on a daily chart is currently around 137; the 200-day moving average is about $159, according to chart analysis.
Still, a quick turnaround is possible. The stock had back-to-back monthly declines in January and February -- 17% and 6.4%, respectively. Then, shares rose 6.6% in March.
And on April 10, shares closed at $128.06, capping off a three-day losing streak of 15%. The stock then gained 12% in five days.
It can't be denied, though, that 2026 has been a rough one for Palantir, especially after three straight years of mammoth gains. Right now, share are down 39% on broad fears that artificial intelligence will disrupt software.
For comparison, the S&P 500 and the tech-heavy Nasdaq Composite are both up this year -- 7.8% and 9%, respectively.
Free-fall or not, Wall Street is optimistic about what's ahead and Wolfe Research resumed coverage of Palantir last week with an upgraded rating.
"Today, we see PLTR as the most applied enterprise AI software company, with the largest and fastest growth rates in the industry," Wolfe Research analyst Alex Zukin wrote.
"We love the business, and if growth trends closer to our upside scenario we could find ourselves looking at an entry point too good to ignore," Zukin added.
The stock has an average Overweight rating with a $189.87 price target, representing 67% upside from current trading levels, according to FactSet. Of the 33 firms polled by FactSet, 17 rate it Buy; three, Overweight; 11, Hold; and two, Sell.
Write to Kit Norton at kit.norton@barrons.com
This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
June 25, 2026 11:55 ET (15:55 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.
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