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Palantir Shares Slip After Profit-Taking and Pentagon Budget Reduction

A slight cut to the Department of Defense base budget prompted a near 4% drop in Palantir shares

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Overview

  • Palantir’s stock fell about 4% on June 27, trading around $139 per share and valuing the company at roughly $328 billion.
  • Investors booked gains after an 85% year-to-date rally that drove Palantir to fresh all-time highs earlier in the week.
  • Selling intensified when the Pentagon requested an $848.3 billion base budget for fiscal 2026, a modest decrease after adjusting for inflation.
  • The company reaffirmed its projection of over 36% revenue growth in 2025, fueled by robust demand for its AI analytics platform.
  • Major government wins—including a $795 million U.S. Army Maven Smart System contract and a partnership on an AI-driven Nuclear Operating System—underpin analyst forecasts of up to $155 per share and a possible $1 trillion valuation in the coming years.