Palantir’s Swiss Defender Faces Activist Fire as Stock Sinks Below Key Levels

The Swiss National Bank isn’t budging. Despite mounting pressure from US activists demanding it offload a roughly $1.1 billion stake in Palantir, SNB President Martin Schlegel pushed back at the central bank’s annual general meeting in Bern on Friday. The activists, based in Minneapolis, argue Palantir’s software enables deportation and surveillance operations for US Immigration and Customs Enforcement — a violation of human rights standards, they claim. Schlegel acknowledged the SNB generally excludes companies with serious human rights abuses, but said an external screening found no grounds to cut Palantir loose. The central bank holds around 6.24 million shares as part of a passive, market-neutral foreign-currency portfolio worth nearly $1 trillion.

The stock itself tells a different story from the boardroom drama. Palantir opened Thursday at $141.57, down roughly 7% — and that came just two days after the company landed a $300 million contract with the US Department of Agriculture to modernize farm management. The USDA deal wasn’t enough to stop the slide. The shares now trade about 33% below their all-time high from November 2025 and have shed roughly 16% since the start of the year. In euro terms, the stock sits at around €120, more than 33% off its 52-week peak of nearly €180. Technical analysts have flagged a “death cross” signal since February, and the price remains well below its 200-day moving average.

Analysts, however, are holding firm. Rosenblatt Securities reiterated its “Buy” rating with a $200 price target on Friday, citing sustained AI momentum and Palantir’s push into civilian government projects. John McPeake at Rosenblatt pointed to the USDA contract and the company’s status as a finalist for a Federal Aviation Administration project with a budget ceiling of up to $32.5 billion. DZ Bank initiated coverage with a “Buy” rating and a $175 target. The consensus price target among analysts sits at roughly $196.

Should investors sell immediately? Or is it worth buying Palantir?

The bullish calls clash with insider activity. Over the past 90 days, executives have sold more than 1 million shares worth about $138 million. CEO Alexander Karp offloaded over 490,000 of those — though the sales were tied to tax withholding from stock option exercises under a prearranged trading plan. Rakuten Securities, meanwhile, slightly increased its institutional position.

All eyes now turn to May 4, when Palantir reports first-quarter results. Analysts expect earnings per share of $0.27 on revenue of $1.54 billion — a 74% year-over-year sales jump and a 123% gain in adjusted operating income. In the fourth quarter of 2025, revenue grew 70% to $1.41 billion, with US commercial revenue surging 137%. For full-year 2026, Palantir targets revenue between $7.18 billion and $7.20 billion. The forward price-to-earnings ratio of roughly 200 already prices in a lot of that optimism. Analysts project average annual earnings growth of about 57% through 2027 — a bar Palantir has consistently cleared, but one that leaves little room for error.

Ad

Palantir Stock: New Analysis - 25 April

Fresh Palantir information released. What's the impact for investors? Our latest independent report examines recent figures and market trends.

Read our updated Palantir analysis...

Ad

Palantir Stock: New Analysis - 25 April

Fresh Palantir information released. What's the impact for investors? Our latest independent report examines recent figures and market trends.

Read our updated Palantir analysis...