Key Highlights PLTR declined Thursday as investors took profits following several days of post-earnings gains Second quarter revenue reached $1.94 billion, representing a 92.8% year-over-year
Shares of Palantir (PLTR) were changing hands at $153.75 during Thursday’s session, retreating from recent peaks as market participants secured profits after an impressive earnings-driven rally. The technology stock had climbed approximately 30% following Monday’s exceptional Q2 results before losing steam on Wednesday.
Palantir Technologies Inc., PLTR
Second quarter revenues totaled $1.94 billion, marking a 92.8% year-over-year jump and exceeding Wall Street’s $1.81 billion projection. The company’s adjusted earnings per share of $0.41 easily surpassed the Street consensus of $0.34.
Commercial revenue in the United States skyrocketed 149% during the period. Government-related revenue climbed 90%. Company leadership attributed the strength to growing demand for AI sovereignty solutions.
Palantir additionally increased its fiscal 2026 outlook for revenue, profitability, and cash generation. The firm reported an adjusted operating margin of approximately 62% alongside free cash flow of roughly $1.22 billion.
Gil Luria from DA Davidson maintained his Buy recommendation while increasing his price objective from $175 to $200. Mizuho elevated its target to $215 alongside an Outperform designation. Deutsche Bank upgraded PLTR to Buy status. Northland established a $200 price target while Piper Sandler maintained its Overweight stance with a $230 objective.
Citigroup took a contrarian approach, downgrading its recommendation from Buy to Market Perform. BNP Paribas Exane launched coverage with an Underperform rating. The aggregated analyst view remains at “Moderate Buy” with an average price objective of $190.73.
Cantor Fitzgerald also launched coverage with an Overweight designation during the week.
Notable investor Michael Burry published a Substack post Wednesday suggesting the market could be “near a major top,” drawing comparisons to a potential 1987-style correction. He disclosed short positions in both PLTR and Tesla.
Cathie Wood’s ARK offloaded roughly $6.4 million in PLTR shares following the earnings-driven surge.
Dynamic Advisor Solutions LLC reduced its PLTR holdings by 21.1% during Q2, divesting 18,708 shares while maintaining 69,935 shares valued at approximately $8.16 million.
From a valuation perspective, PLTR currently trades at a price-to-earnings multiple of roughly 135 with a market capitalization approaching $380 billion. Market observers highlight that investors are accepting an elevated premium for expectations of sustained rapid expansion.
From a technical standpoint, PLTR is trading 17.7% above both its 20-day and 50-day moving averages. The shares are positioned just 1.5% above the 200-day simple moving average at $152.44. Critical resistance is located at $162, while support appears around $148.
PLTR’s 52-week trading range extends from $106.37 to $207.52. Institutional ownership accounts for 45.65% of outstanding shares.
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