Palantir Technologies Inc. (NASDAQ:PLTR) on Monday reported better-than-expected financial results for the third quarter and raised its full-year revenue guidance.
Palantir posted third-quarter revenue of $2.31 billion, beating analyst estimates of $2.18 billion. The AI software company reported adjusted earnings of 44 cents per share for the quarter, beating estimates of 41 cents per share, according to Benzinga Pro.
"The Sovereign AI movement is imposing the most dramatic dichotomy between haves and have-nots that I have witnessed in 30 years of business. Every institution — government and commercial — is rapidly being forced, voluntarily or not, into one of these two categories," said Alex Karp, co-founder and CEO of Palantir.
Palantir expects fourth-quarter revenue to be in the range of $2.649 billion to $2.653 billion, versus estimates of $2.46 billion. The company raised its full-year 2026 revenue guidance from a range of $8.15 billion to $8.16 billion to a new range of $8.53 billion to $8.534 billion versus estimates of $8.20 billion.
Palantir shares dipped 8.1% to $163.92 in pre-market trading.
These analysts made changes to their price targets on Palantir following earnings announcement.
- Piper Sandler analyst Clarke Jeffries reiterated the stock with an Overweight rating and raised the price target from $231 to $235.
- Morgan Stanley analyst Sanjit Singh maintained the stock with an Equal-Weight rating and raised the price target from $205 to $233.
- Cantor Fitzgerald analyst Thomas Blakey reiterated the stock with a Neutral and maintained a $207 price target.
Considering buying PLTR stock? Here’s what analysts think:
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