Palantir Technologies Stock Soars Over 20% to Record Highs

Software stock Palantir Technologies Inc (NASDAQ:PLTR) is up 22.9% at $102.94 at last glance, earlier soaring to a fresh record high of $106.91, after the company's impressive fourth-quarter results and 2025 revenue forecast. Morgan Stanley upgraded the stock to "equal weight" from "underweight" after the event, while a flood of other analysts lifted their price targets. 

The artificial intelligence (AI) boom played a huge role in the results, and Palantir Technologies' Chief Technology Officer Shyam Sankar is making headlines as he discusses competition with China, calling it an "AI arms race." Over the last year, PLTR has jumped 533% as AI momentum carries on. 

Analysts, however, are mostly bearish on the equity, leaving plenty of room for upgrades going forward. Of the 18 brokerages in coverage, 16 carry a "hold" or worse rating. 

Unsurprisingly, options traders are blasting PLTR straight out of the gate. Within the first 15 minutes of trading, the stock has seen 6 times the options volume typically seen at this point. The weekly 2/7 110-strike call is the most popular, followed by the 105-strike call in the same series, with new positions being opened at both. 

This marks a shift in sentiment, as options traders were more bearish than usual over the last two weeks amid the stock's already-high valuation. This is per PLTR's 10-day put/call volume ratio at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which ranks higher than 80% of readings from the past year.