Analysts Issue Sell Ratings for Palantir and SpaceX

Analysts from Jefferies and Morningstar have issued sell ratings for Palantir Technologies and Space Exploration Technologies (SpaceX), forecasting price declines of 53% and 58% respectively.

Brent Thill of Jefferies set a target price of $80 for Palantir, labeling its valuation of 68 times sales as the most expensive in the S&P 500. Despite Palantir reporting second-quarter revenue growth of 93% to $1.9 billion, Thill argued the company has not invested sufficiently compared to rivals like Anthropic.

Nicolas Owens of Morningstar set a target price of $62 for SpaceX, stating the stock is priced for perfection at 94 times sales. While SpaceX saw second-quarter revenue rise 92% to $7.8 billion due to AI segment growth, the company reported negative free cash flow of $25 billion in the first half of 2026. Owens indicated that current market optimism regarding orbital data centers and Starship reusability is unrealistic.