It’s been a difficult year for Palantir Technologies (NASDAQ: PLTR) shareholders. The stock has declined 12% in 2026, while the S&P 500 (SNPINDEX: ^GSPC) and Nasdaq Composite (NASDAQINDEX: ^IXIC) have gained 11% and 16%, respectively.

Palantir shares have retreated alongside many software stocks because investors are worried that artificial intelligence will disrupt the industry. But Wall Street thinks the selling is overdone. Palantir has a median 12-month target price of $200 per share, implying 28% upside from its current share price of $156.

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