RBC Warns Palantir Valuation May Be Unsustainable Ahead of Q4

RBC’s Rishi Jaluria warns Palantir’s lofty valuation—trading well over 20x CY26E revenue—may be unsustainable without a strong Q4 beat, citing softness in government growth and ongoing churn in commercial deals amid rising competition; with Palantir set to report results after the close, the market is weighing whether the company can sustain AI-fueled growth given its bespoke, large-client model, while analysts remain mixed (one bear with a $50 target vs. a consensus suggesting upside).