TLDR
- PLTR fell Thursday on short-term profit-taking after a multi-day post-earnings rally
- Q2 revenue hit $1.94 billion, up 92.8% year over year, beating estimates by around $136 million
- Adjusted EPS of $0.41 topped the $0.34 consensus estimate
- Michael Burry disclosed short positions in PLTR, warning of a potential market top
- Analyst consensus sits at “Moderate Buy” with an average price target of $190.73
Palantir (PLTR) stock was trading at $153.75 on Thursday, pulling back from recent highs as traders locked in gains following a strong post-earnings run. The stock had surged roughly 30% after Monday’s blowout Q2 report before momentum stalled Wednesday.
Palantir Technologies Inc., PLTR
Q2 revenue came in at $1.94 billion, up 92.8% year over year, beating the $1.81 billion analyst estimate. Adjusted EPS of $0.41 cleared the $0.34 consensus by a comfortable margin.
U.S. commercial revenue surged 149% in the quarter. Government revenue rose 90%. Management pointed to demand for AI sovereignty tools as the driver.
Palantir also raised its full-year 2026 revenue, profit, and cash flow guidance. The company posted an adjusted operating margin of around 62% and roughly $1.22 billion in free cash flow.
Analyst Moves
DA Davidson’s Gil Luria reiterated a Buy and lifted his price target from $175 to $200. Mizuho raised its target to $215 with an Outperform rating. Deutsche Bank upgraded PLTR to Buy. Northland set a $200 target and Piper Sandler kept an Overweight rating with a $230 target.
Citigroup moved in the other direction, cutting its rating from Buy to Market Perform. BNP Paribas Exane started coverage with an Underperform. The overall analyst consensus remains “Moderate Buy” with a $190.73 average price target.
Cantor Fitzgerald also initiated coverage with an Overweight rating this week.
Bearish Signals
Investor Michael Burry posted on Substack Wednesday saying he believes the market may be “near a major top,” referencing a potential 1987-type decline. He confirmed short positions in both PLTR and Tesla.
Cathie Wood’s ARK sold approximately $6.4 million worth of PLTR after the earnings rally.
Dynamic Advisor Solutions LLC cut its PLTR stake by 21.1% in Q2, selling 18,708 units and retaining 69,935 worth around $8.16 million.
On the valuation side, PLTR trades at a price-to-earnings ratio of around 135 with a market cap near $380 billion. Analysts note investors are paying a steep premium for continued rapid growth.
Technically, PLTR remains 17.7% above its 20-day and 50-day moving averages. The stock is sitting just 1.5% above its 200-day SMA at $152.44. Key resistance sits at $162, with support around $148.
PLTR’s 52-week range runs from $106.37 to $207.52. Institutional investors own 45.65% of the stock.
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