TLDR
- Palantir Q2 revenue jumped 93% year over year to $1.94 billion, beating the $1.81 billion estimate
- EPS came in at $0.41, topping the $0.34 consensus by $0.07
- U.S. commercial revenue surged 149% to $764 million; U.S. government revenue rose 90% to $809 million
- Full-year revenue guidance raised to $8.2 billion, with adjusted operating income forecast of $4.9 billion
- PLTR stock rose nearly 40% last week, opening Monday at $172.01 with a market cap of $412 billion
Palantir Technologies (PLTR) had a week to remember. The stock jumped nearly 40% after the company posted second-quarter results that left Wall Street scrambling to update its models.
Palantir Technologies Inc., PLTR
Q2 revenue came in at $1.94 billion, up 92.8% year over year and well ahead of the $1.81 billion analyst consensus. EPS of $0.41 beat estimates of $0.34.
CEO Alex Karp called it an “otherworldly” performance. He wasn’t understating it.
U.S. government revenue jumped 90% to $809 million. U.S. commercial revenue surged 149% to $764 million. Adjusted operating income rose 62% to $1.2 billion.
Karp was direct about what’s driving it. Palantir positions itself as a safer AI option than working directly with model developers like OpenAI or Anthropic.
“Our customers trust us to provide them with maximal control over their operations, data, and decisions,” he said. “Their competitive advantage should never become the training data for future models.”
Guidance Gets a Big Lift
Palantir raised its full-year revenue target to nearly $8.2 billion. The company now expects U.S. commercial revenue growth of at least 134% for the year.
Adjusted operating income guidance was set at roughly $4.9 billion for 2026. Karp said the U.S. commercial business is “on fire” but still “nascent.”
Northland Securities lifted its FY2026 EPS forecast to $1.24 from $1.08 and its FY2027 estimate to $1.53 from $1.39 following the results.
PLTR opened Monday at $172.01, with a 52-week range of $106.37 to $207.52. The PE ratio sits at 147.02.
The broader market got a small boost too. A weaker-than-expected July jobs report eased concerns about a near-term Fed rate hike, lifting high-growth tech names alongside PLTR.
Analyst Ratings and Risks
Wall Street’s consensus sits at “Moderate Buy” with an average price target of $190.73. Piper Sandler has an “overweight” rating and a $230 target. Wedbush rates it “outperform.”
Not everyone is buying in. Jefferies kept its “underperform” rating with an $80 price target. Oppenheimer downgraded the stock from “outperform” to “market perform” on August 4.
Michael Burry continues to hold a bearish position. ARK Invest trimmed its PLTR stake after the rally.
Insiders sold over 1.1 million shares valued at roughly $150.7 million over the last 90 days. The sales were tied to tax withholding on vesting equity awards.
Institutional investors own 45.65% of the stock. Allied Private Wealth LLC picked up a new stake of 4,826 shares worth approximately $563,000 during Q2.
Analysts forecast full-year EPS of $1.26 for the current fiscal year.
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