Still, Goldman analysts believe the rally in PLTR stock is "overdone" despite believing that AI "will be a tailwind to Palantir's business" after attending Palantir's AIPCon customer event earlier this month. "We view AI as an extension of Palantir's existing work in the data analytics stack, rather than a step function change in product strategy or adoption," the analysts said. "Our illustrative scenario analysis suggests that AI would likely need to drive a ~15 pt acceleration in Palantir growth over the next 3 years (from 15% to 30%) to warrant current valuations." The price target on the Neutral-rated Palantir stock is raised to $10 per share, signaling a nearly 35% downside risk from current levels.