TLDR
- Palantir reports Q3 2026 earnings on Monday, Nov. 2, after the bell.
- Options traders price in a 13% move in either direction, above the 13% recent four-quarter average of 12.79%.
- Wall Street expects EPS of $0.41 and revenue of about $2.18 billion, up 85% from a year ago.
- Baird has a $250 target and a Buy rating, while RBC has a $90 target and a Sell rating.
- The stock has gained about 50% to 60% over three months and trades at 89x forward earnings.
Palantir Technologies (PLTR) reports third-quarter earnings on Monday, Nov. 2, after the market closes. The stock was down 6.27% in the latest session, per the quote shown in the TipRanks article. It is still up about 50% over three months and 3.6% year to date.
Palantir Technologies Inc., PLTR
Zacks puts the three-month gain at 60% and the six-month gain at 36%. The two sources use slightly different measures, but both point to a strong run into the report.
Options traders are pricing in a 13.3% move in either direction after the results. That figure shows the size of the expected move, not the direction.
The implied move is a bit higher than Palantir’s recent history. The last four post-earnings moves averaged 12.79% in absolute terms. They ranged from 6.85% to 29.45%.
What Wall Street Expects
Analysts expect earnings per share of $0.41. That would be 95.2% growth from the same quarter last year.
Revenue is forecast at $2.17 billion to $2.18 billion, up roughly 84% to 85%. Zacks says two analysts cut their estimates in the past 30 days.
Government revenue is expected at $1.04 billion, up 63.9%. Commercial revenue is pegged at $892.1 million, which would be more than double last year’s level.
Palantir has a habit of beating the numbers. It topped the Zacks consensus in each of the last four quarters, with an average surprise of 15.8%.
Zacks is less sure about this one. Palantir has an Earnings ESP of -2.44% and a Zacks Rank #3 (Hold), so its model does not call a beat.
Investors will also listen for management’s comments on outlook and orders. Spending plans are on the watch list too.
Analysts Split on Valuation
Baird analyst William Power reiterated a Buy rating with a $250 price target. He expects revenue growth to speed up for the 13th straight quarter, helped by U.S. Commercial and U.S. Government.
Power called the valuation attractive despite the premium multiple. He sees room for estimates to rise, and called free cash flow above $9 billion in 2027 a reasonable upside case. His own estimate is $7.06 billion.
RBC analyst Rishi Jaluria sees it differently. He reiterated a Sell rating with a $90 target and said the “risk/reward skews negative.”
Jaluria noted Palantir is the priciest name in RBC’s All-SaaS coverage. It trades at about 61x 2026 revenue and 40x 2027 revenue on an EV basis.
He also pointed to retail investors shifting toward dividends, splits and buybacks. He linked that to Palantir’s cash pile of nearly $9 billion.
On Zacks’ numbers, Palantir trades at 217.71x trailing EV-to-EBITDA, versus 12.13x for the industry. Its forward P/E is 89.01x, against an industry figure of 28.30x.
Zacks rates the stock a Hold. TipRanks shows a Moderate Buy consensus from 19 Buys, four Holds and two Sells, with an average target of $218.95, about 19% above the current price.
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