Palantir Technologies stock booked a slight advance Wednesday, but is still below a key resistance level, following a Wall Street Journal report that it is part of the group of defense and technology companies developing President Donald Trump’s Golden Dome missile defense system.
Shares gained 0.12% to $154.96 Wednesday after ending Tuesday down 3.8%. Palantir stock remains below its 200-day moving average, which has proven to be a difficult level to overcome.
The stock’s move Wednesday follows a Wall Street Journal report late Tuesday naming Palantir as one in a group of companies working on software for Trump’s planned defense system, modeled after Israel’s Iron Dome, to protect the U.S. from incoming missile attacks.
Rosenblatt Securities analyst John McPeake on Wednesday reiterated a Buy rating on Palantir with a $200 price target. McPeake wrote that phase one of the Golden Dome project could be “worth many billions of dollars” to Palantir. Rosenblatt estimates $18.2 billion in combined government revenue for Palantir through 2026, 2027, and 2028. That view is 25% above Wall Street’s consensus view of $13.6 billion over that time frame.
