Palantir Technologies Inc (NASDAQ:PLTR) shares are gaining momentum during Friday's morning session. This follows a broader weekly rally where the stock jumped over 11%. Investor sentiment is shifting as macroeconomic and company-specific factors align.

Nasdaq futures are up 0.49% while S&P 500 futures have gained 0.49%.

Geopolitical Tensions Ease

Broader market optimism is fueling the move on the heels of a 10-day cease-fire agreement between Israeli forces and the militant group Hezbollah, which went into effect at midnight.

President Trump said on Friday that the U.S.'s naval blockade in the Strait of Hormuz will remain in place until a deal with Iran is reached.

Wall Street Defends Growth

Wedbush analyst Dan Ives recently defended the company against “over-blown” sell-off fears. Ives reiterated an Outperform rating and a $230 price target. This implies roughly 61% upside from recent levels. He noted that U.S. commercial revenue grew 137% year-over-year last quarter. Ives argued Palantir remains a “long-term winner” in the AI software sector.

Presidential Endorsement Boosts Confidence

The stock also found support from a unique source. Trump praised Palantir's “war-fighting capabilities” on Truth Social last week. The stock quickly reclaimed over $10 billion in market cap following the post.

Democrats expressed conflict-of-interest concerns, as Trump’s advisors are actively involved in policies that directly benefit a company in which they own stock.

Technical Analysis

Palantir is trading within its 52-week range of $89.31 to $207.52. It's trading 0.2% below its 20-day simple moving average (SMA) and 8.9% below its 100-day SMA.

The death cross in February, with the 50-day SMA below the 200-day SMA, remains an overhang, even as the 20-day SMA is above the 50-day SMA. Over the last 12 months, the stock is up 52.23%, indicating the longer-term tape has still rewarded buyers despite the pullback from the November 2025 peak.

  • Key Resistance: $162.00
  • Key Support: $126.50

PLTR Stock Price Activity: Palantir shares were up 1.32% at $144.64 during premarket trading on Friday, according to Benzinga Pro data.

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