PLTR Stock Selloff Deepens, but Signal Opportunity for 2 New Deals

It's been a tough first half of the year for Palantir Technologies NASDAQ: PLTR shareholders. The stock is down nearly 40% in 2026, with shares recently sliding back to test the $107 level.

Palantir Technologies Today

PLTR

Palantir Technologies

$113.46 +6.19 (+5.77%)

Starting at 11:35 AM Eastern

This is the fair market value given by Massive. Read more.

52 week interval

$106.37

▼

$207.52

The P/E ratio

127.01

Target Value

$192.76

Short interest, although still low in percentage terms, is rising. Technology stocks, and software stocks in particular, are being met with suspicion due to the rapid, but perhaps misunderstood, adoption of agent AI.

That pressure feeds the tried-and-true criticism that PLTR is simply over-resolved. Even after the sale, the stock still trades at a steep forward-earnings (P/E) ratio, above the S&P 500 average and most software stock benchmarks.

However, Palantir has consistently shown that its stock may be worth the premium. Two announcements in the past week reinforce that view and suggest that the selloff creates a buying opportunity rather than confirming the bear thesis.

Zeta Global Partnership Expands Trading Pipeline

Palantir and Zeta Global NYSE: ZETA entered into a seven-year strategic partnership in which Zeta's Data Cloud will be built on Palantir's Foundry infrastructure, with Athena with Zeta remaining as the application layer. Foundry provides an ontology, governance, and functionality backbone; Athena (Zeta's AI framework) sits on top to drive real-time, agent marketing decisions for enterprise customers.

What does that mean for Palantir's finances? The partnership gives Palantir access to a new pool of potential customers representing more than $100 million in annual revenue. It also includes the development of an integrated forward-distributed engineering team. CEO David Steinberg put that $100M+ as a target for annual runs “for years to come,” not a contract amount.

ZETA shares rose 5% on Tuesday, June 23, following the announcement. Wedbush and DA Davidson flagged it as a continuation of Palantir's enterprise AI validation.

Another Effective Government Builds on Key Strengths

Next Generation Command and Control (NGC2) is the most important element of the modern Army and its contribution to Joint All-Domain Command and Control (JADC2). That's the Pentagon's effort to integrate data across the globe, in the air, at sea, in space, and in cyber. The Army has now established a basic data architecture for NGC2, built on Palantir's Foundry as the cloud data layer and Anduril's Lattice as the smart data layer. Raft handles data registration, conversion tools, and organization.

The financial implications are significant, although no contract value has been disclosed. This award comes under Anduril's 10-year business license agreement with the Army, which carries a ceiling of $20 billion. Palantir's role is fundamental rather than peripheral. All future NGC2 programming, AI modeling, and battlefield programming built on this art will run on Foundry.

That's important because the government's share of Palantir remains the company's largest source of revenue. NGC2 recently began flying 4th Infantry Division and 25th Infantry Division pilots. As the Army rolls out the construction of additional structures, the Foundry captures continued revenue at the platform level. Win also complements existing government funds, such as TITAN and the Maven Smart System.

The takeaway for investors is that new contracts lead to higher income and profits. That's the signal. All that's left is noise.

There is nothing wrong with taking a profit on a stock that was previously over $200 per share. And there is nothing wrong with having PLTR early. It's one company, and those don't come around often.

Chart Shows Weak Hands Coming Out, Not Thinking

PLTR broke the support level around $128. The $115 level has now been breached again, and shares are sitting about $30 below the 50-day simple moving average at $137. Palantir bears smell blood, which can lead to more sales.

But a careful reading of the chart shows that the recent sell-off occurred in moderate volume. That is not a sign of commitment, but rather a sign of weak hands coming out of the trade. The relative strength index (RSI) also fell below 30, which is a sign that sales may run out of steam sooner than expected.

MACD has a deep but extended gauge; a setup that usually precedes a jump against the trend. The next logical catalyst for a sustained rally will be the company's upcoming earnings report, expected on Aug 3, 2026. Palantir will likely report strong results…and history suggests the stock may not show that strength.

The question for investors is, what role does PLTR play in the portfolio? As a short-term investment or trade, it's a bad choice. There are many headwinds against software stocks in general and Palantir in particular. But the two deals announced this week underscore why Palantir still deserves a place in the portfolio long-term. The sell-off is not free, but at the moment it seems that the usual portfolio rebalancing driven by valuation is the norm instead of the thesis divergence.

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