Palantir said on its earnings call that the market is it has been able to drive growth without investing in a large number of sales representatives because the market is increasingly approaching them for their solutions. Jefferies reiterated its "Underperform" rating and increased its price target to $60 from $28, representing potential downside of 42%. Analysts at Goldman Sachs are more neutral but still not bullish. They said they were impressed by Palantir's strong revenue growth and expect the momentum to continue into 2025. The bank has a "positive view" of Palantir's technology offering and said it should benefit from an ongoing push to increase efficiency and technology adoption throughout the US government. But sky-high valuation is what's keeping Goldman Sachs sidelined on the stock.