Palantir (PLTR) Stock at 12-Month Low: Time to Buy or More Pain Ahead?

TLDR

• Palantir stock fell 5.2% Thursday to $107.53, hitting a new 12-month low and marking a seven-day losing streak.
• The stock is down 31% this month and 39% in 2026, now 48% off its November 2025 record high of $207.18.
• The selloff broke two key support levels — $127 and $128 — and pushed the stock well below its 50-day and 200-day moving averages.
• A legal setback in Switzerland and the loss of a French intelligence contract are adding pressure to an already struggling stock.
• Despite the drop, analysts maintain an average Overweight rating with a $189.87 price target — implying 67% upside from current levels.

Palantir Technologies (PLTR) is in freefall. The stock dropped 5.2% Thursday to $107.53, hitting its lowest price since April 24, 2025, according to Dow Jones Market Data. That’s seven straight down days, and the pain keeps coming.

Palantir Technologies Inc., PLTR

The stock is now down 31% this month alone. If it holds through the close, it will be Palantir’s worst monthly decline since February 2021, when it fell 32%.

From peak to now, the damage is striking. PLTR is off 48% from its record closing high of $207.18, set on November 3, 2025. That’s a long way from the AI darling status it held just months ago.

Two technical levels gave way this week. On Monday, PLTR broke below $127 — a support level it had held since February. Then on Thursday, it fell through $128, a level that had held on weekly charts for the past 12 months. Once support becomes resistance, traders take note.

The stock is also drifting further from its moving averages. The 50-day sits around $137, and the 200-day is near $159. PLTR is trading well below both.

Legal Setbacks Add to the Pressure

Beyond the charts, there’s real news weighing on the stock. Palantir suffered a legal setback in Switzerland and lost a French intelligence contract. Both events are rattling confidence in the company’s ability to hold onto key government relationships outside the U.S.

The company already leans heavily on U.S. revenue, so cracks in its international book aren’t easy to brush off. The Switzerland issue and the French contract loss are fueling questions about its rich valuation at a time when growth visibility matters more than ever.

Broader market rotation is also playing a role. Investors have been moving out of high-growth software names and into semiconductor stocks — a shift that’s hurt PLTR along with peers.

Wall Street Stays Bullish, for Now

Despite all of this, analysts aren’t abandoning the name. Wolfe Research resumed coverage last week with an upgraded rating. Analyst Alex Zukin called Palantir “the most applied enterprise AI software company, with the largest and fastest growth rates in the industry.”

Zukin added that if growth trends toward the firm’s upside scenario, the current level could look like “an entry point too good to ignore.”

Across 33 firms tracked by FactSet, PLTR carries an average Overweight rating with a $189.87 price target — representing 67% upside from where it’s trading now.

Of those firms, 17 rate it Buy, three Overweight, 11 Hold, and two Sell.

For context, the S&P 500 is up 7.8% in 2026, and the Nasdaq is up 9%. Palantir is down 39%.

The stock has recovered from sharp drops before — after a 15% three-day fall in April, it bounced 12% in five days. Wolfe Research resumed coverage with an upgraded rating just last week.

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