Palantir Technologies Inc. (NASDAQ:PLTR) shares are rising Monday as investors wait for its third-quarter earnings report, due after the market closes.
Palantir Stock Holds Steady Ahead of Earnings
Palantir shares are climbing Monday, a few hours before the company reports third-quarter results. Wall Street projects a 41-cent profit per share and $2.18 billion in revenue, according to Benzinga Pro. Recent price-target increases and a new Overweight rating may be helping lift the stock.
The last report gives the baseline. Palantir's second-quarter revenue reached $1.94 billion, topping the $1.80 billion analysts expected, and adjusted profit came to 41 cents a share, beating a 35-cent forecast. Total revenue grew 93% from a year earlier. Government sales in the U.S. rose 90% to $809 million, and commercial sales in the U.S. jumped 149% to $764 million.
CEO Alex Karp called the quarter "otherworldly." By the end of June, Palantir held about $9.2 billion in cash and short-term Treasuries. The quarter also brought $1.22 billion of operating cash flow and 220 contracts worth more than $1 million each.
What a Beat or Miss Would Mean for Palantir
Palantir told investors to expect third-quarter revenue between $2.16 billion and $2.164 billion, and it raised its 2026 revenue outlook to between $8.15 billion and $8.16 billion. Analysts are asking for more. Their $2.18 billion estimate sits about $16 million above the top of the guided range, so they expect Palantir to beat its own forecast.
Results above the estimates would show demand still outrunning guidance and would support the raised full-year outlook. Results below them would count as a miss, even if they land inside or just above guidance. A shortfall could also raise questions about U.S. commercial growth, which the company guided to at least 134% for the year. The 41-cent profit estimate matches last quarter's result, so earnings need to hold that level.
Analysts Back Palantir Before the Report
The average Wall Street rating on Palantir is Buy, and the average target is $236.07.
JPMorgan started coverage on Oct. 29 with an Overweight rating and a $262 target. Oppenheimer kept its Outperform rating the same day and lifted its target to $235. On Monday, Cantor Fitzgerald raised its target to $207 while staying at Neutral.
PLTR Shares Are Moving Higher
PLTR Price Action: Palantir shares were up 1.53% at $186.93 at the time of publication on Monday, according to Benzinga Pro.