Palantir Technologies (NASDAQ:PLTR) shares rallied sharply this week despite remaining slightly negative for the year.
PLTR stock is up 38% this week, while still down 4% year-to-date, per Benzinga Pro data.
Palantir Beats Q2 Estimates, Lifts 2026 outlook
Palantir reported second-quarter results Monday with revenue of $1.94 billion versus analyst estimates of $1.8 billion and adjusted earnings of 41 cents per share versus 35 cents per share. U.S. revenue rose 115% year-over-year to $1.57 billion, and U.S. commercial revenue climbed 149% to $764 million.
Palantir closed 220 deals worth over $1 million in the quarter, and cash from operations totaled $1.22 billion. It raised full-year 2026 revenue guidance to $8.15 billion to $8.16 billion from $7.69 billion.
CEO Alex Karp called the quarter “otherworldly,” saying the company can turn AI into economic value.
Analysts Raise Price Targets
Analysts lifted price targets Tuesday after the report, pointing to faster revenue growth and demand tied to AI. Cantor Fitzgerald cited strong U.S. demand across commercial and government segments.
DA Davidson described U.S. demand for AI solutions as “parabolic,” and Rosenblatt Securities pointed to competitive advantages in the AI era. See the target changes.
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