TLDR
- Palantir stock traded at $169.11 in premarket Tuesday, down about 5% from Monday’s $178.34 close.
- Q3 revenue rose 96% to $2.313 billion, beating the $2.17 billion estimate.
- Full-year revenue guidance now sits between $8.530 billion and $8.534 billion.
- US commercial revenue topped US government revenue for the first time.
- Mizuho kept an Outperform rating with a $245 price target.
Palantir (PLTR) stock traded at $169.11 in premarket on Tuesday, down about 5% from Monday’s close of $178.34. The drop came after a strong third quarter report.
Palantir Technologies Inc., PLTR
The company beat Wall Street estimates on revenue and profit on Monday. It also raised its full-year revenue outlook.
Q3 revenue hit $2.313 billion, up 96% from a year ago. Analysts had expected $2.17 billion, according to Bloomberg data.
Palantir reports Q3 ‘26 US comm revenue growth of 148% Y/Y and revenue growth of 96% Y/Y; raises FY ’26 revenue guidance to 91% Y/Y growth and US comm revenue guidance to 143% Y/Y, crushing consensus expectations.
US comm revenue accelerated to 29% growth Q/Q and was $984… pic.twitter.com/GJByjorwgC
— Palantir (@PalantirTech) November 2, 2026
Adjusted earnings per share came in at $0.44, above the $0.40 consensus. Adjusted operating margin rose to 61.7%, versus the 60.2% analysts expected.
Guidance and Sales Mix
Palantir now sees full-year revenue between $8.530 billion and $8.534 billion. Analysts had pegged it at $8.2 billion.
The company also lifted its US commercial sales target to more than $3.559 billion. Management raised its 2026 revenue growth guidance by about 9 percentage points.
For the first time ever, US commercial revenue topped US government revenue. Revenue growth has now sped up for 13 straight quarters.
CEO Alex Karp kept the earnings call colorful. “We’ve gone from being the most attractive person in the physics department to being the captain of the football team,” he said.
Palantir has pushed back on fears that AI will disrupt software. It argues some companies pay millions for model tokens and get “AI slop,” while its infrastructure layer delivers more.
The stock is up roughly 2% year to date. It has been caught in the recent tech sell-off.
Earlier this year, Palantir’s Maven Smart System became an official Pentagon program. That cemented a multiyear role across US military AI projects.
Analysts React
Mizuho reiterated an Outperform rating with a $245 price target. The firm said Palantir pairs revenue growth, acceleration and margin expansion at a scale unlike anything else in software.
Truist raised its target to $250 and lifted its 2026 revenue growth estimate to 91%. Piper Sandler moved its target up to $235.
Morgan Stanley set a $233 target. UBS reiterated a Buy rating, noting Palantir’s 96% growth outpaced Snowflake and Datadog.
RBC raised its target to $130 but kept its Underperform rating.
Wall Street is mostly bullish, with 30 Buy ratings, nine Holds and two Sells. The consensus price target is $216.
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