Bearish Outlook on PLTR: Michael Burry Targets $46 Valuation

Palantir Technologies (PLTR) closed down 4.9% to $129.00 on February 12, 2026, following a bearish note from Michael Burry, co-founder of Scion Asset Management, who wrote in a Substack newsletter that the company is worth as little as $46. Burry cited high spending, margin inflation, and a potentially overextended winning streak as reasons to doubt the stock's fundamentals, though he is not currently shorting PLTR and has placed options bets instead. The stock is down nearly 40% from its November 2025 record high and has more than doubled since the start of 2025, following a 340% surge in 2024. Of eight Wall Street analysts tracked by Visible Alpha, half rate PLTR as buy, half as hold, with the lowest price target at $180, still about 40% above Burry's estimate. Analysts remain split, reflecting broader concerns about the company's valuation despite strong revenue growth and recent earnings.