Bank of America, BofA, reiterates the Buy rating and $255 price target for Palantir following the company’s third-quarter 2026 report. The bank believes accelerating commercial growth confirms the strength of the company’s sovereign AI strategy, according to a recent analysis.
The number of commercial customers in the US increased by 29 percent to 686, while the total number of commercial customers rose by 22 percent to 904. Revenue per customer among the 20 largest customers increased by 76 percent to $146 million over the latest trailing twelve-month period.
Palantir signed 107 contracts worth more than $5 million, of which 64 exceeded $10 million. US commercial contract value rose by 11 percent to approximately $1.5 billion, but decreased by 31 percent compared with the previous quarter.
BofA raises its forecasts and estimates that the commercial business could eventually become larger than the government business.
