Palantir Technologies Inc (NASDAQ:PLTR) shares are sliding Thursday afternoon, tracking a sharp risk-off turn that's hitting software names as oil jumps and investors rotate into defensive corners of the market. Here’s what investors need to know.
- Palantir Technologies shares are retreating from recent levels. Why is PLTR stock falling?
What’s Driving Palantir Stock Lower Thursday Afternoon?
A renewed geopolitical flare-up is pushing crude back above $94 per barrel, after President Donald Trump ordered the U.S. Navy to target any vessels laying mines in the Strait of Hormuz while minesweepers clear the waterway. In the same risk-off tape, ServiceNow Inc (NYSE:NOW) is getting hit after warning its Armis acquisition will weigh on 2026 margins and free cash flow.
Palantir is also fighting the tape despite a $300 million USDA Blanket Purchase Agreement tied to the National Farm Security Action Plan, a reminder that contract wins can get ignored when macro risk dominates despite a $300 million headline.
The broader market is sliding with the S&P 500 down 0.6% and the Nasdaq down 0.6% as investors lean defensive.
Palantir Stock: Key Levels To Watch
Palantir is sitting in the middle of its 52-week range ($91.35 to $207.52), which points to a reset from last year's highs rather than a fresh breakout. The stock is trading 1.2% below its 20-day simple moving average (SMA) and 10.6% below its 100-day SMA, a mix that leans to short-term pressure inside a weaker intermediate trend.
The moving average structure is still a headwind: the 20-day SMA is below the 50-day SMA, and the death cross in February (50-day SMA below the 200-day SMA) keeps the longer trend biased toward sellers. The moving average convergence divergence (MACD), a trend/momentum measure, is above its signal line, which hints that downside momentum may be easing even as the trend remains damaged.
Palantir is up 40.77% over the past 12 months, which shows the longer-term tape has still rewarded holders despite the recent drawdown. With the stock well below the $207.52 52-week high, the chart is acting more like a consolidation after a big run than a clean uptrend.
- Key Resistance: $162.00 — an area where rallies have recently struggled to push through.
- Key Support: $126.50 — a level buyers may defend if selling pressure continues.
Palantir Earnings Preview For May
The countdown is on: Palantir Technologies is set to report earnings on May 4.
- EPS Estimate: 27 cents (Up from 13 cents YoY)
- Revenue Estimate: $1.54 Billion (Up from 88 cents Billion YoY)
- Valuation: P/E of 242.3x (Indicates premium valuation relative to peers)
Analyst Consensus & Recent Actions: The stock carries a Buy Rating with an average price target of $198.94. Recent analyst moves include:
- DA Davidson: Neutral (Maintains Target to $180.00) (April 16)
- Mizuho: Outperform (Lowers Target to $185.00) (April 14)
- Wedbush: Outperform (Maintains Target to $230.00) (April 10)
Palantir Technologies Benzinga Edge Scorecard
Below is the Benzinga Edge scorecard for Palantir Technologies, highlighting its strengths and weaknesses compared to the broader market:
- Momentum: Neutral (Score: 50.13) — The stock is acting mixed versus the broader market after a big run.
- Value: Bearish (Score: 1.57) — The market is pricing in a lot of future growth at today's valuation.
- Growth: Bullish (Score: 98.33) — Expectations remain elevated for continued expansion versus most peers.
The Verdict: Palantir Technologies’ Benzinga Edge signal reveals a growth-heavy profile with a stretched valuation backdrop. With momentum sitting in the middle, the next directional push may hinge on whether buyers defend support into earnings.
Palantir Stock Price Movement Today
PLTR Stock Price Activity: Palantir Technologies shares were down 6.70% at $142.40 at the time of publication on Thursday, according to Benzinga Pro data.
Image: Shutterstock
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