August 4, 2026. Palantir Technologies just posted numbers that got every analyst reaching for the recalculate button. The software and AI company beat second-quarter earnings by 20 percent, landing $0.41 per share against Wall Street's $0.34 call. Revenue hit $1.94 billion, crushing the $1.81 billion forecast.
That 93 percent year-over-year revenue jump grabbed headlines. But here's what really moved the needle: U.S. commercial revenue exploded 149 percent. The AI platform is firing on all cylinders where it matters most.
After-hours trading saw the stock jump to $144.45 from its $125.65 close. Not a typo. That's real money moving on real earnings.
DA Davidson pumped its target to $200 from $175, keeping the Buy rating intact. The firm hiked its 2027 revenue estimates by 7 percent following the company's own raised guidance. Analysts flagged Palantir among the strongest software performers on both growth and profitability, even at current valuations.
Citi's Tyler Radke went harder. He raised his target to $245 from $200, staying bullish. The upgrade hinged on accelerating revenue, record U.S. commercial performance, and tightening contract metrics. Palantir's guidance bump of $500 million in full-year revenue and the jump in commercial growth outlook to 134 percent from 120 percent gave him everything he needed.
William Blair's Louie DiPalma noted that commercial execution stays strong even with competition heating up. That's the real test.
The consensus picture on TipRanks shows 16 buy ratings against three holds and two sells from 21 analysts tracking the stock. The average 12-month target sits at $188.82, implying roughly 50 percent upside from before the earnings pop. Individual targets range from $80 to $245, which tells you there's real debate here, not lockstep groupthink.
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