Palantir (PLTR) Stock Surges 10% After Best Quarter in Company History

TLDR

• PLTR stock climbed as much as 9.9% on Friday, adding to a 27% surge earlier in the week after Q2 earnings beat expectations
• Q2 revenue hit $1.94 billion, up 92.8% year-over-year, with EPS of $0.41 beating the $0.34 estimate
• A weaker July jobs report boosted tech stocks broadly, reducing expectations of a near-term Fed rate hike
• Analysts at Mizuho raised their price target to $215 with an outperform rating; consensus target sits at $190.73
• Insider selling remains a watch point, with insiders offloading over 1.1 million shares worth roughly $150.7 million in the last 90 days

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Palantir (PLTR) had another strong session on Friday, climbing as much as 9.9% and trading up around 9.4% as of early afternoon. The move followed an even bigger 27% jump earlier in the week after the company reported its best-ever quarterly results.

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 estimate. EPS of $0.41 beat the $0.34 consensus by $0.07. That compares to just $0.16 EPS in the same quarter last year.

PLTR opened Friday at $172.01. The stock has a 52-week range of $106.37 to $207.52 and a market cap of $412.36 billion.

Friday’s broader rally in software stocks also helped. Twilio surged as much as 31% after posting record profits and cash flow, easing investor fears that AI would hollow out the enterprise software sector.

Analyst Targets Move Higher

Mizuho raised its price target on PLTR from $185 to $215 and assigned an outperform rating following the earnings report. Deutsche Bank upgraded the stock from hold to buy with a $200 target. Phillip Securities lifted its target from $190 to $202.

Northland Securities bumped its FY2026 EPS estimate to $1.24 from $1.08, and its FY2027 estimate to $1.53 from $1.39, suggesting analysts see the earnings growth as more than a one-off.

The consensus rating across 36 analysts currently sits at “Moderate Buy” with an average price target of $190.73. That breakdown includes two Strong Buy ratings, 20 Buys, 11 Holds, and three Sells.

A softer-than-expected July jobs report added fuel to Friday’s move. Lower rate hike expectations tend to lift high-growth software valuations, and Palantir benefited alongside other AI-adjacent names.

Valuation and Insider Selling Watch

The stock trades at a P/E ratio of 147 and 74 times next year’s expected earnings. That’s a steep price, though triple-digit profit growth gives the multiple some cover.

On the insider front, Director Lauren Friedman Stat sold 3,032 shares at $165.00 on August 5th, reducing her position by 5.31%. She still holds 54,107 shares. In total, insiders have sold more than 1.1 million shares worth approximately $150.7 million over the past 90 days.

ARK Invest also trimmed its PLTR position after the post-earnings rally, and Michael Burry continues to hold a bearish stance on the stock.

Institutional investors own 45.65% of the company. Abner Herrman & Brock LLC cut its stake by 13.2% in Q2, selling 4,887 shares and retaining 32,268 shares valued at roughly $3.8 million.

Analysts forecast full-year EPS of $1.24 for the current fiscal year.