On Feb. 18, Palantir confirmed it moved its headquarters from Denver, Colorado to Miami, Florida in a single post on X. The unannounced shift came after months of local protests and tax considerations and lifted the stock about 1.2% to $133.
Protests at the Cherry Creek office targeted the company’s ties to the Israeli military and AI tools for ICE. Co-founder Peter Thiel had already opened a Miami office, and Florida offers no state income tax (Ed. note: Florida has no state income tax; Colorado’s rate is about 4.4%).
Shon Manasco stated at the Defense Tech Leadership Summit, “We’re very excited as a company and anxious to be a part of the community here.” Former Miami Mayor Francis Suarez called the move “This is the tipping point!!!! What a watershed moment for Miami.”
In Q4, Palantir reported EPS of $0.25, beating the $0.23 consensus, and revenue of $1.41 billion, a 70% year-over-year increase. CEO Alex Karp wrote shareholders, “Such a massive acceleration in growth, for a company of this scale and size, is a remarkable achievement — a cosmic reward of sorts to those who were interested in advancing our admittedly idiosyncratic project and embraced, or at least did not wholly reject, our mode of working.”
Valuation concerns remain, including a P/E near 211, more than $1 billion in recent insider selling, and a 200-day moving average around $172. Analysts remain split: William Blair upgraded to outperform while Goldman Sachs cut its target to $182, and investor Michael Burry has argued a fair value below $50.
Trading volume was about 47.7 million shares, slightly below average. The company’s Denver departure closed a chapter, but the long-term impact on Palantir remains uncertain.
