Palantir Technologies (NASDAQ:PLTR), a data integration and analytics specialist, closed Wednesday at $135.38, up 1.77%. The stock moved higher as investors responded to a Mizuho upgrade, fresh AI partnerships, and its Miami headquarters relocation, while watching how these shifts translate into sustained commercial growth.
Trading volume reached 58.4 million shares, coming in about 29% above compared with its three-month average of 45.1 million shares. Palantir Technologies IPO’d in 2020 and has grown 1,325% since going public.
How the markets moved today
The S&P 500 (SNPINDEX:^GSPC) advanced 0.56% to 6,881, while the Nasdaq Composite (NASDAQINDEX:^IXIC) rose 0.78% to finish at 22,754. Among software – infrastructure peers, International Business Machines (NYSE:IBM) closed at $260.84 (up 0.98%) and Booz Allen Hamilton (NYSE:BAH) finished at $78.30 (up 2.46%), reflecting solid peer momentum.
What this means for investors
Mizuho has upgraded the data-analytics company’s stock to the equivalent of a buy rating with a price target of $195. The firm highlighted Palantir as unique due to its impressive revenue growth and margin expansion, describing it as “unlike anything else in software.”
Shares have fallen by about 23% in 2026, though, as investors have broadened buying interest beyond tech names. Even considering Palantir’s incredible growth rates, shares had soared too far, too fast. But its AI-driven deployments across both enterprise and government customers continue to give Palantir a revenue trajectory that has analysts backing owning the stock.
Palantir is also moving its headquarters from Denver to Miami, giving investors reason to reassess tax expenses and its talent pipeline.
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Howard Smith has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Booz Allen Hamilton, International Business Machines, and Palantir Technologies. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
